Wood Group buys Canadian pipeline engineering c...
Wood Group enhances Canadian pipeline engineering capability with acquisition
of Sunstone
HOUSTON, April 1, 2014-Wood Group has acquired Sunstone Projects Ltd.
("Sunstone") of Calgary, Alberta, Canada for C$14.5 million. Sunstone is a
pipeline consulting company providing engineering, procurement and construction
management (EPCM) services to clients in the Canadian oil & gas industry.
Sunstone generated sales of approximately C$21 million in 2013 and employs
approximately 70 people.
Sunstone will be rebranded as Wood Group Mustang and operate within its
Canadian operations. Sunstone will continue to be led by the existing
management team under Sunstone President Barry Bauhuis.
Steve Knowles, president of Wood Group Mustang, said: "The Canadian pipeline
system is expected to expand to ensure access to markets for oil & gas produced
in Western Canada. The acquisition of Sunstone will strengthen our ability to
provide our clients with services in this area. Sunstone's capability and
geographic presence are complementary to Wood Group Mustang's existing pipeline
business. Sunstone has an excellent reputation for pipeline project execution
and will be an important part of our Canadian growth strategy."
Barry Bauhuis, president of Sunstone, said: "We are extremely excited to be
joining Wood Group. As a part of a larger integrated engineering group we will
continue to provide the same great service to existing clients while being able
to pursue larger and more complex pipeline opportunities."
-ends-
Notes to Editors
Wood Group is an international energy services company with around $7bn sales,
employing about 46,000 people worldwide and operating in 50 countries. The
Group has three businesses - Wood Group Engineering, Wood Group PSN and Wood
Group GTS - 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. www.woodgroup.com
Wood Group Mustang provides award-winning services to the global energy
industry. From concept to completion, Wood Group Mustang provides project
management, construction management, engineering and procurement services to
the offshore, onshore, pipeline, refining, chemicals, industrial and automation
sectors, operating in countries throughout Africa, Asia, Europe, the Middle
East, Latin America and North America. For more information, visit
www.mustangeng.com, www.wgmustang.ca or connect with us on Facebook, LinkedIn
or Twitter.
For further information contact
Media enquiries
Bobbie Ireland, Director, Corporate Communications - Americas, Wood Group
Tel: +1 281 828 3505, email: bobbie.ireland@woodgroup.com
Carolyn Smith, Director, Corporate Communications - Eastern Hemisphere, Wood
Group
Tel: +44 (0) 1224 851 099, email: carolyn.smith@woodgroup.com
Investor and analyst enquiries
Andrew Rose, Group Head of Investor Relations, Wood Group
Tel: +44 1224 532716, email: andrew.rose@woodgroup.com