Wood Group

John Wood Group PLC
Public limited company
Traded as LSE: WG.
Industry Oil and gas
Founded 1982
Headquarters Aberdeen, Scotland, UK
Key people
 Ian Marchant (Chairman), Robin Watson (Chief Executive)
Products Oil and gas engineering, production support, gas turbine maintenance
Revenue US$4,120.6 million (2016)[1]
US$243.7 million (2016)[1]
US$34.4 million (2016)[1]
Number of employees
 26,000 (2016)[1]
Website www.woodgroup.com

Wood Group (officially John Wood Group PLC) is a multinational energy services company with headquarters in Aberdeen, Scotland. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History

The business was founded by Sir Ian Wood in 1982, when it split away from JW Holdings,[2] the largest fishing company in Scotland.[3] JW Holdings had diversified into the energy services business at the outset of the North Sea oil industry in the early 1970s.[4] The company acquired Mustang Engineering Inc, an engineering business based in Houston, Texas in September 2000.[5] In 2002, the company was listed on the London Stock Exchange.[3]

In March 2015, Wood Group secured a contract worth over NOK500m (£41m) to expand and upgrade the Kollsnes gas processing plant in Norway. The contract was awarded by Statoil on behalf of plant operator Gassco. Under the deal, Wood Group will carry out engineering modifications and upgrades to the facility, located west of Bergen. [6]

In March 2017, the company announced it would acquire its rival, Amec Foster Wheeler, in an all stock deal, valued at approximately £2.2 billion.[7] If the deal is approved, the new company will have a combined workforce of about 64,000 people.[8]

Operations

Wood Group provides a range of engineering, production support and maintenance management services to the energy and industrial sectors worldwide.[9]

See also

References

  1. 1 2 3 4 "Annual Results 2016" (PDF). Wood Group. Retrieved 29 April 2017.
  2. ↑ Gosden, Emily. "Billionaire Wood Group chairman Sir Ian Wood to retire". Telegraph. Retrieved 2017-07-20.
  3. 1 2 "Wood Group Company History and Heritage". woodgroup.com. Retrieved 3 April 2015.
  4. ↑ Darroch, Valerie (31 December 2006). "Boss of the year: Sir Ian Wood reveals the secret of his success as he gets ready for a new role". Sunday Herald. Retrieved 27 April 2008.
  5. ↑ "Wood Group confirms signing of Mustang deal". European Power News. September 2000. Retrieved 7 April 2017.
  6. ↑ "Wood Group wins contract to upgrade Kollsnes gas plant in Norway". Offshore Technology. 16 March 2015. Retrieved 3 April 2015.
  7. ↑ "Wood Group agrees takeover of rival Amec Foster Wheeler - BBC News". Bbc.co.uk. 1970-01-01. Retrieved 2017-03-13.
  8. ↑ Maslin, Elaine. "Wood Group, Amec Foster Wheeler to combine - OE Digital". Retrieved 2017-04-07.
  9. ↑ "Wood Group". FT. Retrieved 7 April 2017.
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