23rd May 2006 10:22
AMEC PLC23 May 2006 Analysts and institutional investors visit On 23-25 May 2006, AMEC's Natural Resources business will be the subject of asite visit to Baku, Azerbaijan, where analysts and investors will have theopportunity to meet management and learn more about the business and itsstrategy for growth. At the visit, the following new information will be disclosed. Natural Resourcesis the largest element of the Energy and Process business that will be createdfollowing the prospective disposal of AMEC SPIE. The business comprises AMEC'sactivities in Oil and Gas, Oil Sands and Minerals and Metals Mining. In 2005, excluding AMEC SPIE and upstream lump-sum fabrication, Natural Resourcesgenerated profits* of around £52 million on revenues of £0.7 billion, with amargin of 7.0%. The business operates in markets that are growing strongly andwith selective strategic acquisitions, can gain scale and achieve growth morequickly, from 2007 and beyond. No further material new information will be disclosed in managementpresentations, nor will there be any statement on current trading. As previously announced, AMEC continues to work on the separation of the group'scontinuing businesses following the prospective sale of AMEC SPIE. The larger ofthe two businesses to be separated, Energy and Process, will comprise threedivisions: Natural Resources, Power and Process, and Earth and Environmental. In2005, Energy and Process generated profits* of £94.3 million on revenues of £2.0billion. The UK Infrastructure business will be largely UK focused. It willinvest in, develop and deliver, and provide services related to infrastructure.In 2005 this business generated profits* of £21.4 million on revenues of £1.2billion. * Before corporate and net financing costs, IAS 39, joint venture tax,intangible amortisation and exceptional items, but including joint ventureprofit before tax All of the slide presentations to be made on the visit will be published onAMEC's corporate website at www.amec.com on 24 May 2006. Enquiries to:AMEC plc: + 44 (0)20 7634 0000 Analysts and investors:Neil Jamieson, Director of Investor Relations Media:Charles Reynolds, Head of Media Relations AMEC plc is an international project management and services company thatdesigns, delivers and supports infrastructure assets for customers worldwideacross the public and private sectors. AMEC employs 45,000 people in more than40 countries, generating annual revenues of around £5 billion. AMEC's shares aretraded on the London Stock Exchange where the company is listed in the SupportServices sector (LSE: AMEC.L). Internet users will be able to view this announcement, together with otherinformation about AMEC plc, at the company's web site www.amec.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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