Acquisition of Thomason Mechanical and Bender Mach
7th October, 2002
WOOD GROUP GAS TURBINE SERVICES ACQUIRES THOMASON MECHANICAL AND BENDER MACHINE
Wood Group Gas Turbine Services, a division of John Wood Group PLC ('Wood
Group'), has acquired the business and assets of Thomason Mechanical
Corporation ('TMC') and sister company Bender Machine for a cash consideration
of approximately $46 million. Thomason Mechanical had revenues of $61.2 million
for the 12 months to September 2001. Bender Machine had revenues of $6.7
million for the 12 months to June 2002.
Thomason Mechanical is a major provider of rotating and reciprocating equipment
field services to the North American power and petrochemical industries. Bender
Machine supplies precision machining and coatings services to the energy
industry. The companies have operations in California and Texas, and serve
customers across the United States.
'When added to our current activities, this latest acquisition further
establishes Wood Group as the largest independent provider of after-market
rotating equipment services to the energy industry in North America,' said
Allister Langlands, Wood Group's Deputy Chief Executive. 'Our scope of
maintenance, repair and overhaul services covers gas and steam turbine
overhaul, advanced technology component repair, component re-engineering, rotor
repair, generator repair, fuel systems repair, and comprehensive field
service.'
Both companies will continue to be managed by their existing management teams,
headed by President Tom Erwin.
'TMC/Bender's history of providing the power and petrochemical industries with
qualified and responsive technicians and machining capabilities combined with
the technical resources of Wood Group will provide our customers with a
high-quality and comprehensive service,' said Tom Erwin. 'Joining Wood Group
gives us access to new engineering resources and sophisticated repair
technologies and will enable us to extend the `one-stop-shop' service
philosophy we offer to customers for their complete maintenance requirements.'
-ends-
Note to editors
Wood Group is an international energy services company with more than $1.5bn
sales, employing more than 11,000 people worldwide and operating from bases in
over 30 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 Gas Turbine Services, a leading independent provider of maintenance,
repair and overhaul services for light industrial, aero-derivative, and heavy
industrial gas turbines, steam turbines, generators, and other high-speed
rotating equipment. The company also repairs gas turbine accessories and
components for industrial and aero customers.
Thomason Mechanical is a major provider of mechanical field services for a
broad range of rotating and reciprocating machinery, including gas turbines,
steam turbines, generators, compressors, pumps, and geothermal turbines.
Bender Machine supplies precision machining and coatings services to the energy
industry.
For further information please contact
City & financial enquiries to:
Alan Semple, group finance director, Wood Group
Tel: +1 281 828 3534, e-mail: alan.semple@woodgroup.com
Chris Watson, group financial controller, Wood Group
Tel: +44 (1224) 851440, e-mail: chris.watson@woodgroup.com
Media enquiries to:
Carolyn Smith, corporate communications manager, Wood Group
Tel: +44 (1224) 851099. e-mail: carolyn.smith@woodgroup.com
Pauline Smith, corporate communications, Wood Group
Tel: +44 (1224) 797143, e-mail: pauline.smith@woodgroup.com
Bobbie Ireland, corporate communications, Wood Group Americas
Tel: +1 281 828 3505, email: bobbie.ireland@woodgroup.com
Or visit the website:
www.woodgroup.com
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