Wood closes sale of Terra Nova Technologies

RNS Number : 9469X

Wood Group (John) PLC

03 May 2019

 

3^rd May 2019

Wood closes sale of Terra Nova Technologies

Wood today confirms it has completed the sale of conveyor systems business Terra Nova Technologies (TNT), as originally announced on 25 March.  Following a strategic review of its portfolio, Wood identified potential asset disposals which are expected to generate proceeds in the range of c$200m-c$300m. This transaction makes a good contribution to the asset disposal programme.  

The TNT business was sold to Cementation Americas, a firm owned by Murray & Roberts Holdings Ltd, for $38m, representing a multiple of 5.2x 2018 EBITA of $7.3m.

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Note to Editors:

Wood is a global leader in the delivery of project, engineering and technical services in energy, industry, and the built environment. We operate in more than 60 countries, employing around 60,000 people, with revenues of around $11 billion. We provide performance-driven solutions throughout the asset life cycle, from concept to decommissioning across a broad range of industrial markets, including the upstream, midstream and downstream oil & gas; power & process; environment and infrastructure; clean energy; mining; nuclear and general industrial sectors. www.woodplc.com  

For further information contact:  [e-mail]

 

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