News in brief
15 Jan 2000
The profits garnered from Amec's process and energy division during the first six months of 1997 exceeded those from the entire previous year. Notable events over the half-year included the Newcastle fabrication facilities breaking even, after losing £15million over the past three years, and the winning of long-term offshore maintenance contracts for Shell's facilities in the northern and southern sections of the North Sea.
* As Babcock's go for a song
Amec is to spend a grand total of £1 to buy £4.8million-worth of assets from Babcock International, comprising most of its process arm. Babcock believes that the group's size renders it vulnerable to the deferment of major contracts, and its sale to a larger company is the best way to secure its future. Amec has negotiated `substantial protection against historic losses' in the sale and purchase agreement. The business's 800-strong workforce, along with contracts in China, Belfast and Pakistan, will be incorporated into Amec's process and energy wing.
* Oil industry to go `green'
Measures to make environmental impact assessments (EIAs) for offshore developments compulsory are to come into force this year for UKfirms, rather than the 1999 date proposed by the European Union. Companies will have to make the EIAs available to the public before receiving government approval for their plans. Announcing the decision, energy minister John Battle said: `Iam sure companies concerned will wish to take this opportunity to demonstrate that they are continuing to take their environmental responsibilities seriously.'
* Bulk solids processing growth
The market for equipment for thermal processing of granular bulk solids will grow strongly over the coming years, according to market researchers Frost & Sullivan. Such equipment is used in a wide range of industries, it comments, including waste management, chemicals and food, and the need for more efficient equipment will continue to drive growth. Modular equipment, adaptable to different processes, is becoming increasingly popular, it adds.
