Amec Foster Wheeler

Amec Foster Wheeler
Public limited company
Traded as LSE: AMFW NYSE: AMFW
Industry Engineering and project management
Founded 2014 Amec Foster Wheeler
1982 AMEC plc
1927 Foster Wheeler AG
1848 Matthew Hall
Headquarters London, United Kingdom
Key people
 John Connolly (Chairman)
Ian McHoul (Interim CEO)
Revenue £5,455 million (2015)[1]
£334 million (2015)[1]
£(257) million (2015)[1]
Number of employees
 40,000 (2016)[2]
Website www.amecfw.com

Amec Foster Wheeler plc is a British multinational consultancy, engineering and project management company headquartered in London, United Kingdom.[3] It is focused on the oil and gas, minerals and metals, clean energy, environment and infrastructure markets and has offices in over 55 countries worldwide.[4] Roughly a third of its turnover comes from Europe, half from North America and 12% from the rest of the world.[5]

Amec Foster Wheeler shares are publicly traded on the London Stock Exchange and its American Depositary Shares are traded on the New York Stock Exchange. Both trade under the ticker AMFW. Amec Foster Wheeler is a constituent of the FTSE 250 Index.

History

AMEC was formed from the 1982 amalgamation of Leonard Fairclough & Son (founded 1883) and the William Press Group (founded 1913). In 1988, AMEC went on to acquire Matthew Hall Group.[6] In 1996, AMEC took a 40% stake in Spie Batignolles from Schneider in association with a management buyout.[7] Amec launched the AMEC SPIE brand for engineering services in Europe,[8] a rail construction business AMEC Spie Rail was created, and the remaining construction business was retained as Spie Batignolles.[9] The company announced that it would seek to sell the construction arm of the business Spie Batignolles, and entered negotiations to secure a management buyout of that division;[9][10] the management buyout of the construction arm of Spie was completed in September 2003 with the aid of Barclays Private Equity Finance[11] and later that year Amec took full control of the remaining parts of Spie.[12]

Acquisitions in the new millennium included Ogden Environmental & Energy Services[13] and AGRA Monenco Inc., a North American engineering and services company, both in 2000[14] as well as the U.S. operations and equipment of Lauren Kamtech in 2003.[15] Then in 2004, AMEC was awarded a contract to assist in the reconstruction effort in Iraq, as part of a joint venture with Fluor Corp.[16]

In 2005, AMEC acquired UK-based NNC, a large nuclear consulting company and its subsidiaries, including Ontario-based Nuclear Safety Solutions ('NSS'), the nuclear safety division of OPG, which was spun off when OPG was privatised.[17] The European engineering business, AMEC SPIE, was sold to PAI Partners for €1,040 million in 2006[18][19][20][21] and the European rail business joint venture Amec Spie Rail systems was sold for an estimated £200million in 2007, to Colas Group.[22][23][24]

In 2007, AMEC sold its UK construction arm to Morgan Sindall[25] and in 2008, it sold its internal plant hire division to Speedy Hire[26] before buying project services company Rider Hunt International,[27] North American environmental consulting firm Geomatrix Consultants, Inc., and Slovakian nuclear services company AllDeco.[28]

In 2009, AMEC acquired Performance Improvement Group, Journeaux, Bedard & Associates and GRD Limited[29] and in 2010, it continued to expand with the £61.2 m purchase of Entec UK, one of the UK's largest Environmental Consultancies.[30] The company also acquired Australian-based businesses Currie and Brown (Australia)[31] and BurmanGriffiths and acquired a majority stake in S2V Consulting.[32]

In 2011, the company acquired US-based BCI Engineers & Scientists, Inc.,[33] MACTEC, a US-based engineering consultancy company,[34] and Zektin Group, an Australian-based specialist engineering consultancy for the oil and gas and resources industries.[35]

In January 2014, AMEC provisionally agreed a £1.9bn takeover of Swiss rival Foster Wheeler.[36] AMEC completed its purchase of Foster Wheeler on 13 November 2014 and simultaneously changed its name to Amec Foster Wheeler plc.[37]

Operations

Head office of Amec Foster Wheeler in London (on the right)

Current

Amec Foster Wheeler employs over 40,000 people in more than 55 countries, including Afghanistan, Australia, Azerbaijan, Brazil, Canada, Chile, China, India, Kuwait, Qatar, Peru, Poland and the United States.

The company has three geographic business units covering engineering and project delivery operations - Americas; Northern Europe & Commonwealth of Independent States; Asia, Middle East, Africa & Southern Europe - and one power equipment business unit operating worldwide - The Global Power Group.[38]

Former operations

AMEC's operations were structured until October 2012 into Natural Resources, Power & Process and Environment & Infrastructure.[39]

Although AMEC's UK construction business has been discontinued, the following construction projects were notable: the Kielder Dam completed in 1982,[40] the Cumberland Infirmary completed in 2001,[41] the M6 Toll completed in 2003,[42] new offices for HM Revenue and Customs at Longbenton completed in 2005,[43] the Docklands Light Railway City Airport extension completed in 2005,[44] the University College London Hospital completed in 2005[45] and the New York Times Building completed in 2007.[46]

Charity

Amec Foster Wheeler has supported children's charity SOS Children's Villages since 2007, funding educational projects in Asia. Amec Foster Wheeler also funded a green project in the Children's Village in Gwagwalada, Nigeria, enabling houses to become self-sufficient following the installation of solar power and water infrastructure.[47]

See also

References

  1. 1 2 3 "Annual Report 2015" (PDF). Amec Foster Wheeler. Retrieved 28 March 2016.
  2. ↑ "Amec Foster Wheeler at a glance". Amec foster Wheeler. Retrieved 28 March 2016.
  3. ↑ "At a glance". AMEC plc. Archived from the original on 5 September 2010.
  4. ↑ "At a glance". amecfw.com. Retrieved 17 November 2015.
  5. ↑ "Key facts". AMEC plc. Archived from the original on 23 August 2010. Retrieved 4 September 2010.
  6. ↑ Notes on Financial Times Actuaries Index 1988 Archived 27 February 2008 at the Wayback Machine.
  7. ↑ Michael Harrison (21 December 1996), "Amec firmly in Europe with pounds 40m Spie buy", www.independent.co.uk (London: The Independent)
  8. ↑ "AMEC SPIE Brand Launched Across Continental Europe", www.amec.com (AMEC), 1 July 2003
  9. 1 2 Jay P. Pederson, ed. (2004), "International Directory of Company Histories", www.fundinguniverse.com (St. James Press) 57, pp. 28–31 (Google books)
  10. ↑ "Amec in talks over Spie Batignolles sale", business.scotsman.com (The Scotsman), 20 May 2003
  11. ↑ "Spie Batignolles: History". www.spiebatignolles.fr (in French). Archived from the original on 22 February 2009.
  12. ↑ "Exercise Of Option To Acquire Outstanding Shares In Spie And Trading Update", www.amec.com (AMEC), 5 December 2002
  13. ↑ Phoenix Business Journal (30 October 2000). "Amec buys Ogden Corp subsidiary". Bizjournals.com. Retrieved 18 April 2011.
  14. ↑ AMEC history – 2000 acquisition of AGRA Archived 3 March 2008 at the Wayback Machine.
  15. ↑ "AMEC acquires Lauren Kamtech’s U.S. operations to enhance project delivery in North America". Amec.com. 2 October 2003. Retrieved 18 April 2011.
  16. ↑ Terry Macalister (25 March 2004). "Amec deal saves Government blushes in Iraq". Guardian (UK). Retrieved 18 April 2011.
  17. ↑ Amec offers to buy NNC Holdings
  18. ↑ "Disposal of AMEC SPIE", www.amec.com (AMEC), 27 July 2006
  19. ↑ "AMEC plc ("AMEC") Sale of AMEC SPIE", www.amec.com (AMEC), 22 May 2006
  20. ↑ Caroline Muspratt (24 November 2005), "Amec sells off Spie and considers splitting remaining group", www.telegraph.co.uk (London: The Telegraph)
  21. ↑ "AGM TRADING STATEMENT Proposed sale of AMEC SPIE and overall trading on track", www.amec.com (AMEC), 17 May 2006
  22. ↑ Ian Fraser (25 February 2007), "Amec sells half of specialist rail arm to French company", www.ianfraser.org (Sunday Herald)
  23. ↑ Steve Hawkes (19 February 2007), "Amec sells out of rail business", business.timesonline.co.uk (London: The Times)
  24. ↑ "AMEC to sell stake in rail firm", uk.reuters.com (Reuters), 19 February 2007
  25. ↑ Morgan Sindall buys Amec's ailing construction business Building, 4 June 2007
  26. ↑ Goodman, Eleanor (9 January 2008). "Speedy Hire buys Amec equipment hire arm". Building.co.uk. Retrieved 18 April 2011.
  27. ↑ AMEC acquires leading project services company Rider Hunt International Archived 19 February 2013 at the Wayback Machine.
  28. ↑ "Amec buys nuclear firm for £11.1m". Construction News. 22 July 2008. Retrieved 24 February 2013.
  29. ↑ Amec buys GRD Builder & Engineer
  30. ↑ Amec moves to buy Entec Planning Resource, 2 April 2010
  31. ↑ Harris, James. "AMEC buys Currie & Brown". Mandadeals.co.uk. Retrieved 18 April 2011.
  32. ↑ "AMEC Purchases Majority Shareholding In S2V Consulting". Realtimetraders.com. Retrieved 18 April 2011.
  33. ↑ "Amec buys BCI Engineers and Scientists Inc for 20 million cash". Advfn.com. Retrieved 18 April 2011.
  34. ↑ Amec completes acquisition of Mactec Fox Business, 6 June 2011
  35. ↑ AMEC to buy Australian firm Zektin Sage Construction
  36. ↑ Amec offers £1.9bn to buy Swiss rival Foster Wheeler BBC, 13 January 2014
  37. ↑ "AMEC successfully completes offer for Foster Wheeler". oilvoice. 13 November 2014. Retrieved 27 November 2014.
  38. ↑ "Amec Foster Wheeler". amecfw.com. Retrieved 5 March 2015.
  39. ↑ Amec Preliminary Results 2007 Archived 11 September 2008 at the Wayback Machine.
  40. ↑ "Structure information". Sine.ncl.ac.uk. 26 March 2004. Retrieved 18 April 2011.
  41. ↑ "Visit Cumbria". Visit Cumbria. Archived from the original on 21 May 2011. Retrieved 18 April 2011.
  42. ↑ "Motorway Archive". Iht.org. Archived from the original on 15 May 2011. Retrieved 18 April 2011.
  43. ↑ Amec: Public & Private buildings Archived 16 October 2006 at the Wayback Machine.
  44. ↑ "Docklands Light Railway – London City Airport extension now open". Londoncityairport.com. 6 December 2005. Retrieved 18 April 2011.
  45. ↑ University College London Hospital wins award Archived 24 January 2007 at the Wayback Machine.
  46. ↑ "New York Times Project added to National OSHA Partnership with AMEC Americas". Osha.gov. 9 November 2005. Archived from the original on 28 March 2011. Retrieved 18 April 2011.
  47. ↑ "Amec Foster Wheeler Partnership with SOS Children". Retrieved 10 July 2015.

External links

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