2nd Apr 2008 08:15
AMEC PLC02 April 2008 AMEC plc 2 April 2008 AMEC acquires leading project services company Rider Hunt International AMEC plc, the international engineering and project management company,announces the acquisition of the leading project services company Rider HuntInternational Limited (RHI) from its owner managers for £25 million in cash. Based in Godalming, UK, RHI is an international provider of project services tothe oil, gas, chemical, energy and process industries. The company has aprofessional staff of some 240 people, working in 15 countries and has locationsboth in mature markets and frontier regions, including Azerbaijan and Kazakhstan. It is a recognised leader in project controls and tendering ITsolutions, has an excellent track record of success in major oil and gasprojects, and has high levels of repeat business from a broad customer base. "Acquiring RHI is an important step in our strategy of providing best in classconsultancy services in programme and project management in the energyindustries," said Neil Bruce, Chief Operating Officer of AMEC's NaturalResources division. "RHI has some of the very best people and proprietarysystems in the business and provides an excellent geographic fit with AMEC'sfootprint in mature and frontier regions." Jim McFarlane, Managing Director of RHI said: "We are pleased to combine ourcapabilities with AMEC, to form a leading project management consultancy toaccess opportunities in energy markets worldwide. AMEC's strong customerrelationships and geographic footprint will allow us to grow with greaterspeed." RHI will continue to be operated as an independent, stand-alone business, withAMEC providing the geographic presence and capability to facilitate theirgrowth. Enquiries to: AMEC plc: +44 (0)20 7539 5800Sue Scholes, Director of CommunicationsNeil Jamieson, Director of Investor Relations Media:Frank Stokes, Media Relations Manager; +44 (0) 1452 872121;[email protected] Notes to Editors: AMEC plcAMEC is a focused supplier of high-value consultancy, engineering, and projectmanagement services to the world's energy, power and process industries. Withannual revenues of over £2.3 billion, AMEC designs, delivers and maintainsstrategic and complex assets for its customers. AMEC's Natural Resources, Powerand Process and Earth and Environmental businesses employ approximately 20,000people in more than 30 countries globally. AMEC shares are traded on the LondonStock Exchange where the company is listed in the Oil Equipment and Servicessector (LSE: AMEC.L). www.amec.comAMEC's Natural Resources business is a leading provider of total life of assetservices to customers in the upstream and downstream oil and gas sectors,petrochemicals, pipelines and mining industries, with a strong reputation forbalancing global excellence with local delivery. Rider Hunt International (RHI)RHI started as a division of Rider Hunt & Partners, a general propertyconsultancy group, established in the late 19th century, and specialising inquantity surveying. The 'International' division was created in the 1950's, toserve the Oil & Gas and Petrochemical industries.RHI's RHiCOMSTM system, first introduced in 1988, has become an industrystandard system for major fabrication unit-rate contracting. More recently, RHIhas developed a powerful project cost control software package, PEMS, which hasbeen adopted by a number of major clients as a class-leading product. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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