Wood Group completes acquisition of Amec Foster Wheeler

UK engineering company Wood Group has completed the acquisition of its smaller rival Amec Foster Wheeler.
By Staff reporter 9 October 2017 0 27893

UK engineering company Wood Group has completed the acquisition of its smaller rival Amec Foster Wheeler, the company said in a note on Monday.

The UK Competition and Markets Authority approved the £2.2 billion ($2.9 billion) merger at the beginning of September after Amec Foster Wheeler agreed to sell its UK offshore business.

"We expect to deliver significant cost synergies and incremental revenue synergies in a less cyclical business which retains a predominantly reimbursable, asset-light model with a balanced risk appetite," Robin Watson,...

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