Wood Group acquires Shanahan Engineering
10 December 2009
Wood Group acquires Shanahan Engineering
A subsidiary of international energy services company John Wood Group PLC
("Wood Group") has acquired Shanahan Engineering. The company had gross assets
of €8.5m as at 31 March, 2009.
Shanahan Engineering provides power plant installation, commissioning and
maintenance services to the power and industrial sectors mainly in the Eastern
Hemisphere. Headquartered in Dublin, the company has offices in Italy, Japan,
Turkey and the UK, and will operate within Wood Group's GTS division.
"The acquisition of Shanahan Engineering is part of our ongoing strategy to
expand and enhance our EPC capability and extends our geographic footprint",
said Mark Papworth, chief executive, Wood Group GTS. "It will reinforce our
position as a solutions-oriented provider of power plant EPC services and
enhance our ability to support clients' new power plant requirements
internationally. Longer term, demand for fast track natural gas-fired generated
power is expected to increase and we see this leading to strong demand for our
services."
"We are delighted to be joining Wood Group," said James Greaney, senior vice
president of Shanahan Engineering. "This brings together a strong set of
complementary skills for our customers and presents development opportunities
for the business and our people."
-ends-
Note to editors:
Wood Group is an international energy services company with more than $5bn
sales, employing 29,000 people worldwide and operating in 50 countries. Wood
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 and gas, and power generation industries worldwide.
Wood Group GTS is a leading independent provider of services and solutions for
clients in the power, oil & gas and renewable energy markets. Worldwide, these
services include; power plant engineering, procurement and construction
management, facility operations & maintenance, repair & overhaul of gas, wind
and steam turbines, pumps, compressors and other high-speed rotating equipment.
Shanahan Engineering
Founded in 1979, and headquartered in Dublin, Ireland, Shanahan Engineering
provides power plant installation, commissioning and maintenance services
mainly to the Eastern Hemisphere power market. The company operates through
three divisions - Engineering, Procurement & Construction (EPC), Operations &
Maintenance and Technical Field Services.
For further information contact:
Carolyn Smith, Corporate Communications - Eastern Hemisphere
Tel: +44 (0) 1224 851099, email: Carolyn.smith@woodgroup.com
Bobbie Ireland, Corporate Communications - Americas, Wood Group
Tel: +1 (281) 828 3505, email: bobbie.ireland@woodgroup.com
www.woodgroup.com