24th Aug 2007 15:35
AMEC PLC24 August 2007 AMEC plc 24 August 2007 AMEC and MMC form a new Malaysian company to provide engineering services to theoil and gas industry AMEC, the international project management and services company, and MMC Oil &Gas, a leading Malaysian oil and gas engineering consultancy organisation, todayannounced the formation of a new private limited company named MMC AMEC Sdn.Bhd. MMC will hold 51% and AMEC 49% of shares in the new company, with AMEC investingless than £1 million in cash. With its head office in Kuala Lumpur, Malaysia, MMC AMEC will operate in SouthEast Asia, specialising in large-scale integrated deepwater facilities as wellas internationally providing engineering and project management services forboth the upstream and downstream sectors. The move will create one of Malaysia'sforemost oil and gas services companies, combining MMC Oil & Gas's more than 20years of experience globally with AMEC's 35-year standing in international oiland gas markets. "The establishment of MMC AMEC is another step forward in AMEC's growth strategyin the global energy sector and follows soon after our acquisition of BKKS inKazakhstan, another key oil-producing region," said Neil Bruce, Chief OperatingOfficer, AMEC's Natural Resources business. "The Kuala Lumpur office will notonly take us closer to providing the best engineering and project managementexpertise in the region, it will also become one of AMEC's major engineeringdesign hubs. Together with hubs in the UK and North America, it will enable usto operate to international standards, supporting our clients across all theworld's time zones." Mr Feizal Ali, MMC Group Chief Executive added: "The new company will have theresource and back-up support of MMC Group and AMEC. Our objective is to ensurethat our established customers in Malaysia and our international customers areable to determine the real value of our combined efforts as quickly and aseffectively as possible." Contacts:AMEC plc + 44 (0)20 7539 5800 Analysts and investors:Neil Jamieson, Director of Investor Relations GeneralSue Scholes, Director of Communications Media:Frank Stokes, Media Relations Manager +44 (0)7712 [email protected] Notes to editors: AMEC plc is an international project management and services company thatdesigns, delivers and supports infrastructure assets for customers across thepublic and private sectors. In its core businesses, AMEC employs around 18,000people working from a network of offices throughout the UK, US and Canada, aswell as regional and project offices worldwide. AMEC's shares are traded on theLondon Stock Exchange where the company is listed in the Support Services sector(LSE: AMEC.L). AMEC's Natural Resources business is a leading provider of totallife-of-asset services to customers in the upstream and downstream oil and gassectors, petrochemicals, pipelines and mining industries, with a strongreputation for balancing global excellence with local delivery. Seewww.amec.com MMC Oil and Gas is a subsidiary of the MMC Group (market capitalisation RM11bn), a utilities and infrastructure group,. MMC Group has significant interestsin ports, power and water generation, highway concessions, natural gasdistribution, engineering & construction as well as oil & gas. For moreinformation, visit the company's website at www.mmc.com.my This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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