5th Jun 2008 07:00
For immediate release, 5 June 2008
Power and Process seminar
AMEC plc, the international engineering and project management company, is today holding a seminar in London focused on its Power and Process (P&P) division. Didier Pfleger, Chief Operating Officer of P&P, will be joined at the seminar by his leadership team from the Power, Process and Nuclear businesses. Didier will set out his vision and strategy for P&P and explain how, through Operational Excellence, the division will improve its EBITA margin performance. One element of the margin improvement will be delivered through a further increase in the minimum gross margin on all new contracts to 10 per cent, up from the previous level of nine per cent announced in December 2007.
During the presentation, Samir Brikho, Chief Executive, will confirm that P&P expects to achieve an EBITA margin of around six per cent in 2008, up from the previous guidance of a 5-6 per cent range. Given the strength of its margin improvement, the division will now join the Natural Resources and Earth and Environmental divisions in achieving capacity and geographic expansion through selective acquisitions.
No further material new information will be disclosed in the presentations, nor will there be any statement on current trading.
A live webcast of the event, starting at 3.30pm, and presentation slides will be available on www.amec.com.
Enquiries to:
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AMEC plc: |
+ 44 (0)20 7539 5800 |
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Sue Scholes, Director of Communications |
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Neil Jamieson, Director of Investor Relations |
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Media: |
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Frank Stokes, Media Relations Manager |
Internet users will be able to view this announcement, together with other
information about AMEC plc, at the company's web site www.amec.com
Notes to editors:
AMEC plc is a focused supplier of high-value consultancy, engineering and project management services to the world's energy, power and process industries. With annual revenue over £2.3 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 approximately 22,000 people in more than 30 countries globally. AMEC shares are traded on the London Stock Exchange where the company is listed in the Oil Equipment and Services sector. (LSE: AMEC.L).
ENDS
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