1st Jun 2006 07:00
Wood Group acquires Algerian company, SOMIAS Spa A subsidiary of international energy services company John Wood Group PLC("Wood Group") has acquired SOMIAS Spa, a maintenance and fabrication supportprovider serving the Algerian oil & gas and petrochemical industries. WoodGroup will hold a 55% share and Groupe Asmidal, an Algerian Group and Somias'current parent, will retain 45% ownership.SOMIAS Spa had revenues of $11.8 million for the year ended 31 December 2005,and a gross asset value at that date of $8.9 million. SOMIAS Spa will retainits trade name and continue to be led by Zaghouane Khodja, general manager. Thecompany employs approximately 450 personnel and will operate within WoodGroup's Engineering & Production Facilities division."The acquisition of SOMIAS Spa marks a strategic move into North Africa andfollows the recent award of the In Amenas engineering and constructionmodifications contract from the In Amenas Partnership of BP, Statoil andSonatrach", said Les Thomas, Group Director responsible for Wood Group'sProduction Facilities activities. "SOMIAS Spa has an excellent track record ofsupporting the operational needs of major clients including BP, AGIP,Sonatrach, Sonalgaz and Fertial. It is our intent to augment and develop thislocal capability with world class engineering and maintenance expertise.""We are very excited to be joining Wood Group," said Zaghouane Khodja. "WoodGroup's policy to use local skills and expertise has already resulted in thecreation of more than 100 jobs following the award of the In Amenas contract."-ends-Note to editorsWood Group is an international energy services company with $2.8bn sales,employing more than 16,000 people worldwide and operating in 40 countries. TheGroup 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 servicesto the oil & gas, and power generation industries worldwide.Wood Group Engineering & Production Facilities is a market leader inengineering design, construction management and project management services,providing 'life-of-field' engineering, including greenfield and brownfieldengineering, production enhancement, operations and maintenance, andcommissioning. With an extended range of engineering services in the designand operation of both offshore and onshore oil & gas production, transportationand processing facilities, E&PF provides value-added solutions that arefit-for-purpose and tailored for each client.SOMIAS Spa is a maintenance and fabrication support provider to the Algerianoil & gas and petrochemical industries. The company employs more than 450personnel and is headquartered in Annaba, East Algerian, with workshopfacilities in Annaba and Arzew, West Algeria.For enquiries please contactCarolyn Smith, Corporate Communications Manager, Wood GroupTel: +44 (0) 1224 851099, e-mail: [email protected] Ireland, Corporate Communication-Americas, Wood GroupTel: +1 281 828 3505, e-mail: [email protected] GROUP (JOHN) PLCRelated Shares:
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