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In 2000, AMEC bought Ogden Environmental & Energy Services<ref>[http://www.bizjournals.com/phoenix/stories/2000/10/30/daily10.html Amec buys Ogden Corp subsidiary]</ref> and AGRA, Inc., a [[North America]]n engineering and services company.<ref>[http://www.amec.com/about/aboutwide.asp?pageid=24 AMEC history - 2000 acquisition of AGRA]</ref> In 2004, AMEC was awarded a contract to assist in the rebuilding of Iraq, as part of a joint venture with [[Fluor Corp.]].<ref>[http://www.guardian.co.uk/Iraq/Story/0,,1177375,00.html Amec deal saves Government blushes in Iraq]</ref> In 2005, AMEC acquired UK-based [[NNC]], a large nuclear consulting company and its subsidiaries, including [[Ontario]]-based Nuclear Safety Solutions ('NSS'), the nuclear safety division of [[Ontario Power Generation|OPG]], which was spun-off when OPG was privatised.<ref>[http://www.the-eic.com/News/Archive/2005/Jun/Article595.htm Amec offers to buy NNC Holdings]</ref> In 2006, AMEC sold the [[Paris]]-based [[Spie Batignolles]] to a private equity company.<ref>[http://www.building.co.uk/story.asp?storycode=3067853 Amec sells Spie for £707m]</ref> In 2007, AMEC sold its construction arm to [[Morgan Sindall]].<ref>[http://www.amec.com/news/mediareleasedetails.asp?Pageid=876&MediaID=1215 AMEC: Sale of Business]</ref> In 2008, AMEC sold its internal plant hire division to [[Speedy Hire]].<ref>[http://www.building.co.uk/story.asp?sectioncode=284&storycode=3103297&c=1 Speedy Hire buys Amec equipment hire arm]</ref> Also in 2008, AMEC bought project services company Rider Hunt International.<ref>[http://www.amec.com/news/mediareleasedetails.asp?Pageid=876&MediaID=1277 AMEC acquires leading project services company Rider Hunt International]</ref> |
In 2000, AMEC bought Ogden Environmental & Energy Services<ref>[http://www.bizjournals.com/phoenix/stories/2000/10/30/daily10.html Amec buys Ogden Corp subsidiary]</ref> and AGRA, Inc., a [[North America]]n engineering and services company.<ref>[http://www.amec.com/about/aboutwide.asp?pageid=24 AMEC history - 2000 acquisition of AGRA]</ref> In 2004, AMEC was awarded a contract to assist in the rebuilding of Iraq, as part of a joint venture with [[Fluor Corp.]].<ref>[http://www.guardian.co.uk/Iraq/Story/0,,1177375,00.html Amec deal saves Government blushes in Iraq]</ref> In 2005, AMEC acquired UK-based [[NNC]], a large nuclear consulting company and its subsidiaries, including [[Ontario]]-based Nuclear Safety Solutions ('NSS'), the nuclear safety division of [[Ontario Power Generation|OPG]], which was spun-off when OPG was privatised.<ref>[http://www.the-eic.com/News/Archive/2005/Jun/Article595.htm Amec offers to buy NNC Holdings]</ref> In 2006, AMEC sold the [[Paris]]-based [[Spie Batignolles]] to a private equity company.<ref>[http://www.building.co.uk/story.asp?storycode=3067853 Amec sells Spie for £707m]</ref> In 2007, AMEC sold its construction arm to [[Morgan Sindall]].<ref>[http://www.amec.com/news/mediareleasedetails.asp?Pageid=876&MediaID=1215 AMEC: Sale of Business]</ref> In 2008, AMEC sold its internal plant hire division to [[Speedy Hire]].<ref>[http://www.building.co.uk/story.asp?sectioncode=284&storycode=3103297&c=1 Speedy Hire buys Amec equipment hire arm]</ref> Also in 2008, AMEC bought project services company Rider Hunt International.<ref>[http://www.amec.com/news/mediareleasedetails.asp?Pageid=876&MediaID=1277 AMEC acquires leading project services company Rider Hunt International]</ref> |
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== AMEC acquisition == |
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Far East sovereign wealth funds are expressing an interest in the acquisition of AMEC, <ref> [http://www.amec.acquisitionreport.com/ AMEC acquisition] </ref> and three potential SWFs have undertaken corporate studies into a possible acquisition. The acquisition would ensure an ongoing technical and technological base for the heavy plant and manufacturing industries in the Far East.<ref>[http://www.swfinvestments.net/ SWF Investments]</ref> |
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==Operations== |
==Operations== |
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Revision as of 15:38, 27 November 2008
| AMEC | |
| Company type | Public company (LSE: AMEC) |
|---|---|
| ISIN | GB0000282623  |
| Industry | Engineering |
| Founded | 1982 |
| Headquarters | London, England, UK |
Key people | Jock Green-Armytage (Chairman) Samir Brikho (CEO) |
| Revenue | £2,356.2 million (2007) |
| £126.5 million (2007) | |
| £344.4 million (2007) | |
Number of employees | 23,000 (July 2008) |
| Website | www.amec.com |
AMEC plc (LSE: AMEC) is a British company, headquartered in London. It carries out high-value consultancy, engineering and project management services for the oil and gas, mining, power generation, nuclear, process and water industries. Speculation on the meaning of the name has led to many questions being posed to founding management, however AMEC is not an acronym - it is the full registered company name and does not stand for anything.
It is listed on the London Stock Exchange and has been a constituent of the FTSE 100 Index since being promoted on the 20 December 2007 when ICI went private.
History
AMEC was formed from the 1982 amalgamation of the Fairclough Group (founded 1883) and the William Press Group (founded 1913). In 1988, AMEC went on to acquire Matthew Hall Group.[1]
In 1996, AMEC bought a 46% stake in Spie Batignolles and later went on to exercise an option to buy the other 54%.[2]
In 2000, AMEC bought Ogden Environmental & Energy Services[3] and AGRA, Inc., a North American engineering and services company.[4] In 2004, AMEC was awarded a contract to assist in the rebuilding of Iraq, as part of a joint venture with Fluor Corp..[5] In 2005, AMEC acquired UK-based NNC, a large nuclear consulting company and its subsidiaries, including Ontario-based Nuclear Safety Solutions ('NSS'), the nuclear safety division of OPG, which was spun-off when OPG was privatised.[6] In 2006, AMEC sold the Paris-based Spie Batignolles to a private equity company.[7] In 2007, AMEC sold its construction arm to Morgan Sindall.[8] In 2008, AMEC sold its internal plant hire division to Speedy Hire.[9] Also in 2008, AMEC bought project services company Rider Hunt International.[10]
AMEC acquisition
Far East sovereign wealth funds are expressing an interest in the acquisition of AMEC, [11] and three potential SWFs have undertaken corporate studies into a possible acquisition. The acquisition would ensure an ongoing technical and technological base for the heavy plant and manufacturing industries in the Far East.[12]
Operations
AMEC employs more than 23,000 people in over 30 countries including Australia, Brazil, Canada, Chile, China, Kuwait, Peru, Russia and the United States.
AMEC's operations are structured into Natural Resources, Power & Process and Earth & Environmental.[13]
The Natural Resources business carries out oil and gas services, oil project management and a modest amount of mining services. The Company has had extensive involvement in North Sea oil rig drilling and production platform design and fabrication. Examples of international projects include contracts to provide oil services to the Kuwait National Petroleum Company[14] and to BP's Azerbaijan international operating company.[15]
The Power and Process business designs and delivers infrastructure for companies operating in the power generation and nuclear sectors. It is currently undertaking various projects to improve the gas and electricity infrastructure in the UK. It has also recently won a contract to restart two nuclear reactors for Bruce Power.[16] It has also delivered electricity contracts in joint venture with Fluor in Iraq[17] and is currently involved in a consortium which is active cleaning up Sellafield. [18]
The Earth & Environmental business provides geological and environmental services.
The Investments business is now solely involved in wind energy schemes.
Former construction business
Although Amec's construction business has been discontinued the following construction projects were notable: the Kielder Dam completed in 1982,[19] the Cumberland Infirmary completed in 2001,[20] the M6 Toll completed in 2003,[21] new offices for HM Revenue and Customs at Longbenton completed in 2005,[22] the Docklands Light Railway City Airport extension completed in 2005,[23] the University College London Hospital completed in 2005[24] and the New York Times Building completed in 2007.[25]
References
- ^ Notes on Financial Times Actuaries Index 1988
- ^ Amec firmly in Europe with £40m Spie buy
- ^ Amec buys Ogden Corp subsidiary
- ^ AMEC history - 2000 acquisition of AGRA
- ^ Amec deal saves Government blushes in Iraq
- ^ Amec offers to buy NNC Holdings
- ^ Amec sells Spie for £707m
- ^ AMEC: Sale of Business
- ^ Speedy Hire buys Amec equipment hire arm
- ^ AMEC acquires leading project services company Rider Hunt International
- ^ AMEC acquisition
- ^ SWF Investments
- ^ Amec Preliminary Results 2007
- ^ Amec wins contract to upgrade three Kuwaiti refineries
- ^ Amec briefing 'Developing a sustainable oil and gas business in Azabaijan accessed 26/05/06
- ^ Addressing climate change challenges
- ^ Christodolou L., (2006) Corporate Carve Up: The Role of UK Corporations in Iraq March 2003 – March 2006, Corporate Watch
- ^ Amec Group scoops deal to clean up Sellafield The Times, July 2008
- ^ Structure information
- ^ Visit Cumbria
- ^ Motorway Archive
- ^ Amec: Public & Private buildings
- ^ Docklands Light Railway - London City Airport extension now open
- ^ University College London Hospital wins award
- ^ New York Times Project added to National OSHA Partnership with AMEC Americas
