4th Jun 2009 10:45
AMEC plc
For immediate release
04 June 2009
AMEC acquires Western Canadian archaeological firm
AMEC plc, the international engineering and project management company, announces today that it has acquired the assets and ongoing operations of Arcas Consulting Archeologists Limited (Arcas) from its owner for a total cash cost of £0.3 million (Cdn$0.5 million). Of this total, £0.2 million (Cdn$0.3 million) was paid at closing on 1 June 2009, with the balance payable in equal instalments on the first, second and third anniversaries of closing.
Founded in 1981, Arcas is a 20-person archaeological consulting company in British Columbia. The company provides a full range of archaeological and other cultural heritage consulting services to private sector, government and First Nation clients in Western Canada. Services include archaeological overviews, impact assessments and mitigation programmes, traditional use studies, culturally modified tree studies, and related services.
The acquisition is consistent with AMEC's strategy of geographic and capability expansion in the Earth and Environmental division and follows 11 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.
ENDS
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