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[STK]
[IN] OIL UTI FIN CST CHM
[SU] TNM
TO BUSINESS, AND ENERGY EDITORS:
Wood Group enhances Canadian pipeline engineering capability with
acquisition of Sunstone
HOUSTON, April 1, 2014 /PRNewswire/ --Wood Group has acquired Sunstone
Projects Ltd. ("Sunstone") of Calgary, Alberta, Canada for C$14.5
million. Sunstone is a pipeline consulting company providing
engineering, procurement and construction management (EPCM) services
to clients in the Canadian oil & gas industry. Sunstone generated
sales of approximately C$21 million in 2013 and employs approximately
70 people.
Sunstone will be rebranded as Wood Group Mustang and operate within
its Canadian operations. Sunstone will continue to be led by the
existing management team under Sunstone President Barry Bauhuis.
Steve Knowles, president of Wood Group Mustang, said: "The Canadian
pipeline system is expected to expand to ensure access to markets for
oil & gas produced in Western Canada. The acquisition of Sunstone
will strengthen our ability to provide our clients with services in
this area. Sunstone's capability and geographic presence are
complementary to Wood Group Mustang's existing pipeline business.
Sunstone has an excellent reputation for pipeline project execution
and will be an important part of our Canadian growth strategy."
Barry Bauhuis, president of Sunstone, said: "We are extremely excited
to be joining Wood Group. As a part of a larger integrated engineering
group we will continue to provide the same great service to existing
clients while being able to pursue larger and more complex pipeline
opportunities."
Notes to Editors Wood Group is an international energy services
company with around $7bn sales, employing about 46,000 people
worldwide and operating in 50 countries. The Group has three
businesses - Wood Group Engineering, Wood Group PSN and Wood Group GTS
- providing a range of engineering, production support, maintenance
management and industrial gas turbine overhaul and repair services to
the oil & gas, and power generation industries worldwide.
www.woodgroup.com
Wood Group Mustang provides award-winning services to the global
energy industry. From concept to completion, Wood Group Mustang
provides project management, construction management, engineering and
procurement services to the offshore, onshore, pipeline, refining,
chemicals, industrial and automation sectors, operating in countries
throughout Africa, Asia, Europe, the Middle East, Latin America and
North America. For more information, visit www.mustangeng.com,
www.wgmustang.ca or connect with us on Facebook, LinkedIn or Twitter.
SOURCE Wood Group
-0- 04/01/2014
/CONTACT: Media enquiries, Bobbie Ireland, Director, Corporate Communications - Americas, Wood Group, Tel: +1 281 828 3505, email: bobbie.ireland@woodgroup.com, or Carolyn Smith, Director, Corporate Communications - Eastern Hemisphere, Wood Group, Tel: +44 (0) 1224 851 099, email: carolyn.smith@woodgroup.com; Investor and analyst enquiries, Andrew Rose, Group Head of Investor Relations, Wood Group, Tel: +44 1224 532716, email: andrew.rose@woodgroup.com
/Web Site: http://www.woodgroup.com
CO: Wood Group; Sunstone Projects Ltd.
ST: Texas
IN: OIL UTI FIN CST CHM
SU: TNM
PRN
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0000 04/01/2014 06:00:00 EDT http://www.prnewswire.com
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