Acquisition(s)
21 August 2008
Wood Group acquires Australian safety training business
A subsidiary of international energy services company John Wood Group PLC
("Wood Group") has acquired Benchmark Global Pty Ltd, the Australian-registered
parent company owning the Marine & Offshore Group Pty Ltd a provider of safety
and emergency response training services to the international offshore,
maritime and mining industries (M&O). M&O is currently active in Australia, New
Zealand, Singapore, Kazakhstan and Nigeria and is in the process of setting up
operations in Tunisia, Libya and Egypt.
M&O had revenues of US$9.0 million and EBIT of US$1.2 million for the year
ended 30 June 2007, and a gross asset value at that date of US$8.3 million. M&O
will retain its trading names and continue to be led by Rick Parish, Chief
Executive & Managing Director. M&O employs approximately 200 personnel and will
operate within Wood Group's Engineering & Production Facilities division.
"The acquisition of M&O will expand our provision of safety training to oil &
gas clients around the world", said Les Thomas, Group Director responsible for
Wood Group's Production Facilities activities. "M&O has an excellent track
record of supporting the needs of major clients from its nine current training
facilities and can offer a rapid response to emerging needs utilising its OPITO
approved mobile training centres. We see their services as complementary to and
supportive of our international expansion plans."
"We are delighted to be joining Wood Group," said Rick Parish, Chief Executive
& Managing Director of M&O. "The ability to leverage Wood Group's international
infrastructure and client base provides M&O with significant potential for
growth. We look forward to working with Wood Group to create a leading global
safety, emergency response and crisis management company servicing the oil &
gas industry."
-ends-
Note to editors
Wood Group is an international energy services company with approximately
$5.0bn sales, employing approximately 26,000 people worldwide and operating in
46 countries. The Group has three businesses - Engineering & Production
Facilities, Well Support, and Gas Turbine Services - providing a range of
engineering, production support, maintenance management and industrial gas
turbine overhaul and repair services to the oil & gas, and power generation
industries worldwide.
Wood Group Engineering & Production Facilities is a market leader in
engineering design, construction management and project management services,
providing 'life-of-field' engineering, including greenfield and brownfield
engineering, production enhancement, operations and maintenance, and
commissioning. With an extended range of engineering services in the design
and operation of both offshore and onshore oil & gas production, transportation
and processing facilities, E&PF provides value-added solutions that are
fit-for-purpose and tailored for each client.
M&O/ Benchmark Global Pty Ltd is the Australian registered parent company
owning the Marine & Offshore Group Pty Ltd (`M&O') a provider of safety
training services to the oil & gas, maritime and mining industries. Formed in
1997 and now employing 150 personnel, M&O has offices and training centres in
Australia, New Zealand, Singapore, Kazakhstan and Nigeria. ISO 9001 series QA
approved, all seven training centres are approved by the UK North Sea's OPITO
organisation.
For media enquiries please contact:
Carolyn Good, Corporate Communications - Eastern Hemisphere, Wood Group
Tel: +44 (0) 1224 851489, e-mail: carolyn.good@woodgroup.com
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