AMEC

See also: AMEC (disambiguation)
AMEC plc
Type Public limited company
Traded as LSE: AMEC
Industry Engineering and project management
Founded 1982
Headquarters London, United Kingdom
Key people John Connolly (Chairman)
Samir Brikho (CEO)
Revenue £2,950.6 million (2010)[1]
Operating income £251.3 million (2010)[1]
Net income £229.9 million (2010)[1]
Employees 27,000 (2011)[2]
Website www.amec.com

AMEC plc (LSE: AMEC) is a global consultancy, engineering and project management company headquartered in London, United Kingdom.[2] It is focused on the oil and gas, minerals and metals, renewable energy, environment and infrastructure sectors and has offices in 40 countries worldwide.[2] Roughly a third of its turnover comes from Europe, half from North America and 12% from the rest of the world.[3]

AMEC is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

Contents

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.[4]

In 1996, AMEC took control of Spie Batignolles from Schneider buying a +40% stake in association with a management buyout.[5] In 2002-2003 it completed the purchase,[6] and launched the AMEC SPIE brand for engineering services in Europe,[7], a rail construction business AMEC Spie Rail was created, and the remaining construction business was retained by Spie Batignolles.[8] 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;[8][9] the management buyout was completed in September 2003 with the aid of Barclays Private Equity Finance.[10]

In 2000, AMEC bought Ogden Environmental & Energy Services[11] and AGRA, Inc., a North American engineering and services company.[12]

In 2003, AMEC acquired the U.S. operations and equipment of Lauren Kamtech.[13]

In 2004, AMEC was awarded a contract to assist in the reconstruction effort in Iraq, as part of a joint venture with Fluor Corp., and this contract has been completed.[14]

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.[15]

In 2005 AMEC announced it was to sell its Spie acquisition of 2003.[16][17] AMEC SPIE was sold to PAI Partners for €1040 million in 2006.[18][19] The european rail business joint venture Amec Spie Rail systems was sold for an estimated £200million in 2007, to Colas Group.[20][21][22]

In 2007, AMEC sold its construction arm to Morgan Sindall.[23]

In 2008, AMEC sold its internal plant hire division to Speedy Hire.[24]

In 2008, AMEC bought project services company Rider Hunt International,[25] North American environmental consulting firm Geomatrix Consultants, Inc., and Slovakian nuclear services company AllDeco.

In 2009, AMEC acquired Performance Improvement Group, Journeaux, Bedard & Associates and GRD Limited.[26]

In 2010, AMEC continued to expand with the £61.2 m purchase of Entec UK, one of the UK's largest Environmental Consultancies.[27] The company also acquired Australian-based businesses Currie and Brown (Australia)[28] and BurmanGriffiths and acquired a majority stake in S2V Consulting.[29]

In 2011, the company acquired US-based BCI Engineers and Scientists, Inc.,[30] and announced that it has entered into an agreement to acquire Zektingroup (Zektin), an Australian-based specialist engineering consultancy for the oil and gas and resources industries.[31]

In May 2011, the company announced that it has entered into an agreement to acquire MACTEC, a US-based engineering consultancy company.[32] The acquisition was completed on June 6, 2011. [33]

Operations

Current

AMEC employs more than 25,000 people in around 40 countries including Australia, Brazil, Canada, Chile, China, Kuwait, Peru, South Korea and the United States.

AMEC's operations are structured into Natural Resources, Power & Process and Environment & Infrastructure.[34]

The Natural Resources business carries out oil and gas services, oil project management and a growing amount of mining services. The Company has had extensive involvement in North Sea oil rig drilling and production platform design and fabrication. Examples of international projects include contracts to provide oil services to the Kuwait National Petroleum Company[35] and to BP's Azerbaijan international operating company.[36]

The Power and Process business designs and delivers infrastructure for companies operating in the power generation and nuclear sectors. It is currently undertaking various projects to improve the gas and electricity infrastructure in the UK. It is also working on a contract to restart two nuclear reactors for Bruce Power.[37] It also undertook electricity and water contracts in joint venture with Fluor Corp. in Iraq, which have been completed,[38] and is currently involved in a consortium which is actively cleaning up Sellafield.[39]

The Environment & Infrastructure business provides environmental and engineering consulting services including environmental engineering and science, geotechnical engineering, water resources, materials testing and engineering, engineering and surveying,and program management.

Former

Although AMEC's 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]

References

  1. ^ a b c "AMEC plc Preliminary Results 2010". AMEC plc. http://www.amec.com/documents/investors/928da23c84a24c1fb79628607b1fd106/prelims_2010_docs/media_release_prelims_2010. Retrieved 17 April 2011. 
  2. ^ a b c "AMEC at a glance". AMEC plc. http://www.amec.com/aboutus/at_a_glance.htm. Retrieved 4 September 2010. 
  3. ^ "Geographical analysis". AMEC plc. http://www.amec.com/investors/key_facts/geographical_analysis.htm. Retrieved 4 September 2010. 
  4. ^ Notes on Financial Times Actuaries Index 1988
  5. ^ Michael Harrison (21 December 1996), "Amec firmly in Europe with pounds 40m Spie buy", www.independent.co.uk (London: The Independent), http://www.independent.co.uk/news/business/amec-firmly-in-europe-with-pounds-40m-spie-buy-1315535.html 
  6. ^ "Exercise Of Option To Acquire Outstanding Shares In Spie And Trading Update", www.amec.com (AMEC), 5 December 2002, http://www.amec.com/page.aspx?pointerid=7543e20456f446a8a785593c2bb1799a 
  7. ^ "AMEC SPIE Brand Launched Across Continental Europe", www.amec.com (AMEC), 1 July 2003, http://www.amec.com/page.aspx?pointerid=f6bea91b1fd34c2bb1d88aec01eef81e 
  8. ^ a b Jay P. Pederson, ed. (2004), Amec Spie S.A., "International Directory of Company Histories", www.fundinguniverse.com (St. James Press) 57: pp. 28–31, http://www.fundinguniverse.com/company-histories/Amec-Spie-SA-Company-History.html 
  9. ^ "Amec in talks over Spie Batignolles sale", business.scotsman.com (The Scotsman), 20 May 2003, http://business.scotsman.com/business/Amec-in-talks-over-Spie.2428841.jp 
  10. ^ "Spie Batignolles: History" (in french). www.spiebatignolles.fr. Archived from the original on 22 February 2009. http://web.archive.org/web/20090222084833/http://www.spiebatignolles.fr/groupe/groupe_historique.aspx. 
  11. ^ Phoenix Business Journal (30 October 2000). "Amec buys Ogden Corp subsidiary". Bizjournals.com. http://www.bizjournals.com/phoenix/stories/2000/10/30/daily10.html. Retrieved 18 April 2011. 
  12. ^ AMEC history – 2000 acquisition of AGRA
  13. ^ "AMEC acquires Lauren Kamtech’s U.S. operations to enhance project delivery in North America". Amec.com. 2 October 2003. http://www.amec.com/page.aspx?pointerid=b66fe8140f2f4ff4845345fcd3a415e3. Retrieved 18 April 2011. 
  14. ^ Terry Macalister (25 March 2004). "Amec deal saves Government blushes in Iraq". Guardian (UK). http://www.guardian.co.uk/Iraq/Story/0,,1177375,00.html. Retrieved 18 April 2011. 
  15. ^ Amec offers to buy NNC Holdings
  16. ^ Caroline Muspratt (24 November 2005), "Amec sells off Spie and considers splitting remaining group", www.telegraph.co.uk (London: The Telegraph), http://www.telegraph.co.uk/finance/2926821/Amec-sells-off-Spie-and-considers-splitting-remaining-group.html 
  17. ^ "AGM TRADING STATEMENT Proposed sale of AMEC SPIE and overall trading on track", www.amec.com (AMEC), 17 May 2006, http://www.amec.com/page.aspx?pointerid=b93f148eaf234f5aa00ec22d52280aee 
  18. ^ "Disposal of AMEC SPIE", www.amec.com (AMEC), 27 July 2006, http://www.amec.com/page.aspx?pointerid=601ada60aafe46249bd1b9ed53588781 
  19. ^ "AMEC plc ("AMEC") Sale of AMEC SPIE", www.amec.com (AMEC), 22 May 2006, http://www.amec.com/page.aspx?pointerid=781b51ba38ae4aeda7ff8ec9e57d8079 
  20. ^ Ian Fraser (25 February 2007), "Amec sells half of specialist rail arm to French company", www.ianfraser.org (Sunday Herald), http://www.ianfraser.org/amec-sells-half-of-specialist-rail-arm-to-french-company/ 
  21. ^ Steve Hawkes (19 February 2007), "Amec sells out of rail business", business.timesonline.co.uk (London: The Times), http://business.timesonline.co.uk/tol/business/industry_sectors/engineering/article1405182.ece 
  22. ^ "AMEC to sell stake in rail firm", uk.reuters.com (Reuters), 19 February 2007, http://uk.reuters.com/article/2007/02/19/uk-amec-colas-idUKL1919259820070219 
  23. ^ Morgan Sindall buys Amec's ailing construction business Building, 4 June 2007
  24. ^ Goodman, Eleanor (9 January 2008). "Speedy Hire buys Amec equipment hire arm". Building.co.uk. http://www.building.co.uk/story.asp?sectioncode=284&storycode=3103297&c=1. Retrieved 18 April 2011. 
  25. ^ AMEC acquires leading project services company Rider Hunt International
  26. ^ Amec buys GRD Builder & Engineer
  27. ^ Amec moves to buy Entec Planning Resource, 2 April 2010
  28. ^ Harris, James. "AMEC buys Currie & Brown". Mandadeals.co.uk. http://www.mandadeals.co.uk/m-and-a-news/1145348/amec-buys-currie-and-brown.thtml. Retrieved 18 April 2011. 
  29. ^ "AMEC Purchases Majority Shareholding In S2V Consulting". Realtimetraders.com. http://realtimetraders.com/ArticleView.aspx?Id=1499265. Retrieved 18 April 2011. 
  30. ^ "Amec buys BCI Engineers and Scientists Inc for 20 million cash". Advfn.com. http://www.advfn.com/lse/ShareNews.asp?sharenews=AMEC&article=46264804&headline=amec-buys-bci-engineers-and-scientists-inc-for-20-million-cash. Retrieved 18 April 2011. 
  31. ^ AMEC to buy Australian firm Zektin Sage Construction
  32. ^ Amec has agreed to buy US engineering and environmental services company Mactec for US$280m (£172.8m) Construction Index, 19 May 2011
  33. ^ Amec completes acquisition of Mactec Fox Business, 6 June 2011
  34. ^ Amec Preliminary Results 2007
  35. ^ "Amec wins contract to upgrade three Kuwaiti refineries". Sciencedirect.com. http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VJH-4PSBWT7-H&_user=10&_rdoc=1&_fmt=&_orig=search&_sort=d&view=c&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=d82a66b3c9939df482897b7f1f02729a. Retrieved 18 April 2011. 
  36. ^ Amec briefing 'Developing a sustainable oil and gas business in Azabaijan accessed 26/05/06
  37. ^ "Addressing climate change challenges" (PDF). http://www.electricity-today.com/et/issue0707/Climate_Change_Challenges.pdf. Retrieved 18 April 2011. 
  38. ^ Christodolou L., (2006) Corporate Carve Up: The Role of UK Corporations in Iraq March 2003 – March 2006, Corporate Watch
  39. ^ Amec Group scoops deal to clean up Sellafield The Times, July 2008
  40. ^ "Structure information". Sine.ncl.ac.uk. 26 March 2004. http://sine.ncl.ac.uk/view_structure_information.asp?struct_id=3544. Retrieved 18 April 2011. 
  41. ^ "Visit Cumbria". Visit Cumbria. http://www.visitcumbria.com/hospitals.htm. Retrieved 18 April 2011. 
  42. ^ "Motorway Archive". Iht.org. http://www.iht.org/motorway/m6toll.htm. Retrieved 18 April 2011. 
  43. ^ Amec: Public & Private buildings
  44. ^ "Docklands Light Railway – London City Airport extension now open". Londoncityairport.com. 6 December 2005. http://www.londoncityairport.com/index.php?mode=news&action=showStory&sId=936. Retrieved 18 April 2011. 
  45. ^ University College London Hospital wins award
  46. ^ "New York Times Project added to National OSHA Partnership with AMEC Americas". Osha.gov. 9 November 2005. http://www.osha.gov/pls/oshaweb/owadisp.show_document?p_table=NEWS_RELEASES&p_id=11682. Retrieved 18 April 2011.