3rd Jun 2009 10:45
AMEC PLC
3 June 2009
AMEC to acquire Canadian geotechnical and mining engineering consultancy
AMEC plc, the international engineering and project management company, announces today that it has agreed to purchase the assets and ongoing operations of Journeaux, Bédard and Assoc. Inc. (JBA) from its owner for a total cash cost of £2.0 million (CdnN$3.7 million). Of this total, £1.6 million (Cdn$2.9 million) will be paid at closing, with the balance payable within twelve months.
Closing is anticipated later this month, subject to customary closing conditions.
JBA is a 20-person geotechnical, mining and environmental engineering consultancy located in Montreal, Canada. Founded in 1987, the company provides a broad range of services related to mine tailings management, dam design, permafrost foundations, and laboratory testing and inspection. It has built long-term, trusted relationships with clients, particularly in the mining sector.
The acquisition is consistent with AMEC's strategy of geographic and capability expansion in the Earth and Environmental division and follows ten other acquisitions in this division since January 2007.
Enquiries to:
AMEC plc +44 (0) 20 7539 5800
Sue Scholes, Director of Communications
Neil Jamieson, Director of Investor Relations
Media:
Frank Stokes, Media Relations Manager: +44 (0) 1452 872121
Lauren Gallagher, Media Relations Manager: +1 602 757 3211
Brad Christensen, Media Relations Director, Earth and Environmental: +1 602 432 1339
Notes to editors:
AMEC (LSE: AMEC) is a focused supplier of high-value consultancy, engineering and project management services to the world's energy, power and process industries. With annual revenues of over £2.6 billion, AMEC designs, delivers and maintains strategic and complex assets for its customers. AMEC's Natural Resources, Power and Process and Earth and Environmental businesses employ over 22,000 people in more than 30 countries globally.
AMEC's Earth and Environmental division operates from over 140 offices in the U.S., Canada and around the world. The business provides a broad range of environmental, geotechnical, water resources, infrastructure, materials testing, and project management services to public and private clients.
Earth and Environmental works for customers common to AMEC's Natural Resources and Power and Process divisions, providing services from environmental impact assessments at the earliest stages of the project life cycle right through to advising on clean up following decommissioning.
Market drivers for this division include growth in environmental legislation; increasing corporate social responsibility; increasing use of brownfield sites and exploration of increasingly environmentally sensitive regions by natural resources companies.
The market for environmental services is large and fragmented. Earth and Environmental will continue to follow a strategy of continued growth in selected sectors, both organically and by way of acquisitions which will enhance capabilities and facilitate selective regional expansion.
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