business
Amec integration ‘ahead of schedule’
The integration of Amec Foster Wheeler into John Wood Group is progressing ahead of schedule following the completion of the £2.2 billion takeover deal in October, it said yesterday.
Wood, a multinational energy services company, derives about 60 per cent of its revenue from oilfield services but has been steadily moving into other sectors including utilities, renewables, infrastructure and nuclear. It employs 55,000 people across more than 60 countries and is a member of the FTSE 250.
Yesterday Wood said that it was on course to deliver revenue of between $5.1 billion and $5.2 billion in the first six months of the year. That would result in earnings in the range of $250 million to $260 million before interest, tax and amortisation.
David Kemp, the…
