Wood Group (John) PLC
21 April 2004
21 April 2004
Wood Group Acquires Deepwater Specialists, Inc.
Wood Group Engineering and Production Facilities Holdings, a subsidiary of John
Wood Group PLC ('Wood Group'), has acquired Deepwater Specialists, Inc. ('DSI'),
a New Orleans-based company that provides facilities commissioning services to
the deepwater oil and gas industry.
DSI had revenues of $12.4 million for the year ended December 31, 2003, and net
asset value at completion was $4.0 million. DSI will continue to be led by
Phillip Landry, president, and David Landry, vice president. DSI employs
approximately 150 personnel and will operate within Wood Group's Engineering and
Production Facilities division.
'DSI's commissioning service is an excellent strategic fit between Wood Group's
engineering design and construction management capabilities and our facilities
operations and maintenance services,' stated Les Thomas, chief executive of Wood
Group's Production Facilities activities. 'DSI holds an extremely strong
position within the Gulf of Mexico deepwater commissioning market and has the
potential to grow internationally.'
'We're very excited to be joining Wood Group,' stated Phillip Landry. 'The
ability to leverage the Group's infrastructure and access to international
markets provides DSI with significant potential for growth.'
-ends-
Note to editors
Wood Group is an international energy services company with $2.0bn sales,
employing more than 13,000 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 Production Facilities operates within the Group's Engineering &
Production Facilities division, which 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.
For enquiries please contact
Nick Gilman, Investor Relations Manager, Wood Group
Tel: +44 (0) 1224 851404, e-mail: nick.gilman@woodgroup.com
Carolyn Smith, Corporate Communications Manager, Wood Group
Tel: +44 (0) 1224 851099, e-mail: carolyn.smith@woodgroup.com
Bobbie Ireland, Director, Corporate Communication-Americas, Wood Group
Tel: +1 281 828 3505, e-mail: bobbie.ireland@woodgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
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