Wood Group (John) PLC
05 January 2004
5 January 2004
Wood Group has acquired Z.TEC GmbH Energy Service
A subsidiary of John Wood Group PLC ('Wood Group') has acquired Z.TEC GmbH
Energy Service ('Z.TEC'), a company based in Moers, Germany, providing services
to heavy industrial gas turbine users in Germany and other parts of central
Europe. Z.TEC will operate as part of Wood Group's Gas Turbine Services
division. Z.TEC had revenues of €8.2 million for the year 2002, together with
estimated revenues of approximately €11 million in 2003 and estimated net assets
of €2 million as at 31 December 2003. Its previous owners, Ulrich Zumbusch,
Hans-Jurgen Ciesielski and Hans-Jurgen Werning will remain with the company as
joint Managing Directors.
Allister Langlands, Group Deputy Chief Executive and Chief Executive of Gas
Turbine Services, said: 'Z.TEC has achieved considerable success in Germany and
will increase Wood Group's field service capabilities in Europe and provide
opportunities for pull through of component repair, parts supply and generator
services.'
Z.TEC's joint Managing Directors said: 'We are very excited to join Wood Group
and believe that together Z.TEC and Wood Group can offer a broad range of
services to support the maintenance requirements of power companies in Europe
today and in the future.'
-ends-
Note to editors
Wood Group is an international energy services company with more than $1.7bn
sales in 2003, 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 and steam
turbine-generator overhaul and repair services to the oil & gas, and power
generation industries worldwide.
Wood Group Gas Turbine Services is a leading world-wide independent provider of
maintenance, repair and overhaul services for gas turbines, steam turbines,
generators, and other high-speed rotating equipment, including pumps and
compressors. The company also repairs gas turbine accessories and components
for industrial and aero customers.
Z.TEC GmbH Energy Service, based in Moers, Germany provides service support for
heavy industrial gas turbines users. Services include inspection, maintenance,
hot gas path component repair, and spare parts supply.
For further information contact
Carolyn Smith, Corporate Communications Manager, Wood Group
Tel: +44 (0) 1224 851099, e-mail: carolyn.smith@woodgroup.com
Pauline Smith, Corporate Communications Executive,
Wood Group Gas Turbine Services
Tel: +44 (0) 1224 797143, mobile: 07751 414210,
e-mail: pauline.smith@woodgroup.com
Or visit the websites:
www.woodgroup.com
www.ztec-gmbh.com
This information is provided by RNS
The company news service from the London Stock Exchange
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