25th May 2007 07:01
AMEC PLC25 May 2007 Disposal of AMEC SPIE Capag pipeline construction business AMEC plc announces that it has sold its pipelines construction business AMEC SPIE Capag to the French company Entrepose Contracting SA. This furthers AMEC's strategy, announced in December 2006, of focusing on its core businesses in the Energy and Process sectors and divesting its BuiltEnvironment and other non-core specialist businesses.The transaction follows thesale of AMEC's interest in AMEC SPIE Rail Systems Ltd, Buchan ConcreteSolutions and AMEC Dynamic Structures, announced earlier this year. AMEC SPIE Capag specialises in the construction of onshore pipelines, andfacilities such as compression, pumping and metering stations, hydrocarbonstorage systems, and water supply and distribution networks. It has 293employees, generated revenues of £133 million in the year ended 31 December2006, and had gross assets of £65 million at 31 December 2006. Chief executive Samir Brikho said: "We are pleased to have reached agreement with Entrepose and believe they willbe an excellent new owner for this business. This is another important step inour divestment programme as we continue to deliver on our strategy to make AMECa leading supplier of high value consultancy, engineering and projectmanagement services to the world's energy and industrial process markets." ContactsAMEC plc: +44 (0) 20 7634 0000 Analysts and investors:Neil Jamieson, Director of Investor Relations Media:Charles Reynolds, Head of Media Relations Notes to editors AMEC is an international project management and services company that designs, delivers and supports client assets for customers across the public and private sectors. AMEC employs more than 20,000 people working from a network of offices throughout the U.K., U.S. and Canada, as well as regional offices and projects worldwide. AMEC shares are traded on the London Stock Exchange where the company is listed in the Support Services Sector (LSE: AMEC:L). Entrepose Contracting, SA is an independent group specialised in the design andconstruction of complex industrial projects in the oil, gas and energy sectorsand in water. From creating transport and storage solutions to deliveringturnkey projects, the Group is constantly developing its expertise in conceptualengineering, process design and contracting in sensitive environments. EntreposeContracting places particular emphasis on standards compliance in terms ofQuality, Health & Safety and Environmental Management (QHSE accreditations), andpossesses unique know-how enabling it to meet the most stringent requirements interms of the highest performance levels. Entrepose Contracting has operations incountries including Algeria, Nigeria and the United Kingdom. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AMFW.L