Wood completes sale of JV interest in Sulzer Wood

RNS Number : 0926T
Wood Group (John) PLC
23 March 2021
 

 

23rd March 2021

John Wood Group PLC ('Wood' or 'the Company')

LEI:  549300PLYY6I10B6S323

 

Wood completes sale of joint venture interest in Sulzer Wood Ltd

 

Wood, the global consulting and engineering company, announces today that it has completed the sale of its joint venture interest in Sulzer Wood Ltd to existing partner Sulzer for a consideration of US$17.5m.

The sale is part of Wood's focus on portfolio optimisation by divesting from non-core activities. The cash proceeds will be used to reduce debt and accelerate progress towards Wood's target leverage.

Sulzer is a global leader in fluid engineering that specialises in pumping, agitation, mixing, separation and application technologies for fluids of all types.

Wood has held an interest in the company for over two decades.

Ends -

 

Note to Editors:

Wood is a global leader in consulting, projects and operations solutions in energy and the built environment . www.woodplc.com    

 

Wood


Andrew Rose - Group Head of Investor Relations 

01224 532 716

Ellie Dixon - Investor Relations Senior Manager 

01224 851 369

Citigate Dewe Rogerson


Kevin Smith 

020 7638 9571

Chris Barrie


 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DISEAXDAAENFEFA
UK 100

Latest directors dealings