Wood Group (John) PLC
13 April 2005
Wood Group acquires Offshore Design Ltd ('ODL')
A subsidiary of international energy services company John Wood Group PLC ('Wood
Group') has acquired ODL, a leading independent technical support, consulting
services and procedural information specialist serving clients in the oil & gas
industry around the world.
ODL had revenues of £8.6million ($16.1m) million for the year ended 31 October
2004, and a net asset value at that date of £2.4million ($4.5) million. ODL will
retain its trade name and continue to be led by Jim Casher, managing director.
The company employs approximately 135 personnel and will operate within Wood
Group's Engineering & Production Facilities division.
'ODL has an excellent track record of providing comprehensive consulting and
pre-operational services to meet the operational needs of major projects,
alliances and call-off contracts,' said Les Thomas, Group Director responsible
for Wood Group's Production Facilities activities. 'By combining ODL's expertise
with that of Wood Group we have a powerful global consulting and support
organisation with a full range of capabilities from the pre-operational phase,
through commissioning, to the operations, maintenance and management of clients
facilities.'
Jim Casher will have responsibility for both ODL and Wood Group's existing
technical consulting and technical support operation based in Houston.
'We are very excited to be joining Wood Group,' said Jim Casher. 'As part of the
Group we can now provide strategic operational support and consulting services
from the earliest stages of new projects through the ongoing and mature
operational phases and have access to a significantly enlarged international
infrastructure.'
-ends-
Note to editors
Wood Group is an international energy services company with $2.2bn sales,
employing more than 14,000 people worldwide and operating in 36 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.
ODL is an independent consulting and services company specialising in the
development, management and delivery of technical information and procedural
documentation for the international oil & gas industry. The company was formed
in 1977 and employs approximately 135 full-time personnel. ODL serves clients
globally from offices in the UK (Aberdeen) and Halifax & St Johns in Canada. ODL
has provided services to more than 50 oil & gas companies throughout the world
and has developed a comprehensive range of flexible services with the capability
to handle fully integrated major projects, alliance contracts,
call-off contracts and ad hoc services. ODL is fully committed to a quality
culture and is ISO 9002 registered.
For enquiries please contact
Carolyn Smith, Corporate Communications Manager, Wood Group
Tel: +44 (0) 1224 851099, e-mail: carolyn.smith@woodgroup.com
Bobbie Ireland, 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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