Amec Foster Wheeler merger finalised
13 Nov 2014
Amec has completed its £2 billion takeover of Foster Wheeler to create an oil & gas services company with combined annual revenues £5.5 billion.
The new company, Amec Foster Wheeler, has a workforce of over 40,000 in more than 50 countries and takes 56% of its revenues from the oil & gas industry.
Amec made a formal offer to acquire Foster Wheeler in February in a cash-plus-shares deal.
I am proud to be leading the combined business into a new phase of growth
Amec Foster Wheeler CEO Samir Brikho
Amec Foster Wheeler chief executive Samir Brikho today said the creation of the new company would build on “the proud heritage, skills and customer relationships of two already successful and highly respected businesses”.
“With our strong management team and talented workforce, we will not only serve our customers better, but can also offer our highly skilled employees even better career opportunities,” said Brikho.
“I am proud to be leading the combined business into a new phase of growth.”
Following the merger, Amec Foster Wheeler is being split into four business divisions: three geographic units for the core engineering and project delivery operations, comprising Americas, Northern Europe & Commonwealth of Independent States (Russia and the former Soviet states), and Africa, Middle East, Asia & Southern Europe; the fourth unit comprises Foster Wheeler’s power equipment business, which will sit across all geographies.
As part of today’s announcement the Amec Foster Wheeler leadership team for each of these divisions was also revealed.
The Group presidents for the four business units are:
- Simon Naylor (Americas)
- John Pearson (Northern Europe & Commonwealth of Independent States)
- Roberto Penno (Africa, Middle East, Asia & Southern Europe)
- Gary Nedelka (Global Power Group)
