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Wood completes Amec Foster Wheeler takeover

The acquisition of Amec Foster Wheeler, which advises UK local authorities and suppliers during decisions over waste contracts, has been completed by Wood Group in a deal reported to be worth £2.2bn.

Wood Group delivers engineering and technical services to energy and industrial markets in more than 60 countries.

It employs 29,000 people while Amec has 35,000 workers. The deal creates a company with a combined value of about £5bn.

In September, the firms agreed to sell a range of assets after the Competition Markets Authority found the merger could curb competition in the supply of services to the UK oil industry.

robin watson wood group

robin watson wood group

Robin Watson, chief executive of Wood Group, pictured, said: “We become a business of significant scale and enhanced capability delivering services across a broader range of geographies and sectors, differentiated by the quality of our people, enabling technology and know-how. Wood is better placed to serve customers than ever before, with a more comprehensive range of capabilities and the potential to deliver efficient integrated solutions with fewer customer interfaces.”

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