9th Jan 2007 07:01
Atkins (WS) PLC09 January 2007 Atkins announces Oil & Gas acquisition WS Atkins plc (Atkins) today announces that it has strengthened its position inthe oil and gas sector by acquiring Boreas Consultants Ltd for an enterprisevalue of £3.8 million, of which £2.8 million was paid in cash, with a further £1million payable within two years. Boreas specialises in the subsea engineering of oil & gas facilities and employs35 staff, principally in Aberdeen. The business is known within the industryfor its innovative solutions in areas such as pipe buckling and corrosionprotection. These issues are particularly critical in inhospitable, deep-waterfrontier regions such as the Gulf of Mexico and West of Africa. Atkins will integrate Boreas into its existing oil & gas business, increasingits total number of staff to 280 people. The acquisition follows the purchase,in March 2006, of MSL Engineering, an oil & gas company specialising inintegrity management. By adding a subsea capability, the acquisition enables Atkins to offer clients acomplete portfolio of services to assess and manage the integrity of theiroffshore assets. Strong oil prices have led to a significant increase in demandfor such services as companies seek to extend the lives of these assets. ENQUIRIES: James Garthwaite 01372 753014 Group Communications Director Ben Thompson 01372 752154 Head of press office [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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