Wood Group (John) PLC
27 May 2003
27 May 2003
WOOD GROUP ACQUIRES DUTCH ENGINEERING COMPANY, KORNDORFFER CONTRACTING
INTERNATIONAL (KCI)
John Wood Group PLC ('Wood Group') has acquired the Dutch engineering company,
Korndorffer Contracting International (KCI). The net asset value of KCI at
April 2003 was Euro 0.7million. KCI will operate within Wood Group's
Engineering & Production Facilities business.
Based in Rotterdam, KCI had a turnover of Euro 6.2million in the year to
December 2002, employs 45 personnel and specialises in design engineering for
oil and gas clients in the Netherlands.
'This acquisition will strengthen our European brownfield and greenfield
engineering capability and is a strategic move into the Dutch sector of the
North Sea,' said Bill Edgar, Group Director for Wood Group's Engineering &
Production Facilities business.
KCI will retain its existing Managing Director, Wim Komdorffer, who was
responsible for setting up the company in 1987. 'Joining Wood Group will help
to facilitate further growth for KCI, and enable us to build on our existing
excellent reputation in the industry, established over a number years,' said
Wim. 'We will undoubtedly benefit from Wood Group's extensive global network.'
- ends -
Notes to editors:
Wood Group is an international energy services company with more than $1.7bn
sales, employing more than 12,000 people worldwide and operating in 34
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 leading provider of
engineering design and project management services for the development of new
offshore oil and gas fields as well as the enhancement, modification, operation
and maintenance of existing infrastructure in offshore and onshore oil and gas
facilities.
Korndorffer Contracting International (KCI) provides a range of engineering
design and consultancy services for the onshore and offshore oil & gas industry.
KCI specialises in the design of jackets, deck and process facilities as well
as pipelines and subsea structures.
www.korndorffer.com
For further information contact:
Alan Semple, group finance director, Wood Group
Tel: +1 713 828 3534
e-mail: alan.semple@woodgroup.com
Chris Watson, group financial controller, Wood Group
Tel: +44 (1224) 851440, e-mail: chris.watson@woodgroup.com
Carolyn Smith, corporate communications manager, Wood Group
Tel: +44 (1224) 851099, mobile: +44 (0) 7775 620633, e-mail:
carolyn.smith@woodgroup.com
Bobbie Ireland, director - corporate communications - Americas, Wood Group
Tel: +1 281 828 3505, mobile: +1 713 515 3571, e-mail:
bobbie.ireland@woodgroup.com
www.woodgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
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