Estimated read time: 3-4 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
[STK]
[IN] OIL UTI STW CPR HRD
[SU] TNM
TO BUSINESS, AND ENERGY EDITORS:
Wood Group expands operator training and simulation capabilities with
acquisition of Cape Software
HOUSTON, April 15, 2014 /PRNewswire/ -- Wood Group has acquired Cape
Software ("Cape"), a Texas provider of simulation software and
services for operator training and logic validation for SCADA and DCS
industrial control systems used by the oil & gas and other
process-based industries. Cape will become part of the MSi Kenny
Products business within Wood Group Kenny. Cape's revenue for the year
to December 31, 2013 was around $5 million.
Cape's VP Link@ software product, used to simulate process responses
on control networks and for interactive operator training, complements
MSi Kenny's more comprehensive Virtuoso@ simulation modelling
technology, which is used for pipelines and processes. The companies'
previous collaborations have resulted in the development and
implementation of integrated operator training systems for upstream
offshore oil & gas facilities, enabling critical unit operations to be
rigorously modelled.
Michael Mai, a member of the Wood Group Kenny leadership team and
president of MSi Kenny, said: "The acquisition of Cape expands our
product and service portfolio for customers worldwide and is an
important part of our technology-led growth strategy. VP Link broadens
our existing operator training simulator to include a full-featured,
hardware-based solution, so operators can train on the same type of
equipment they will operate in the control room.
"Cape also provides us with an avenue to bring our simulation
technology to other industries for cost-efficient process optimization
and monitoring. As process safety continues to be a core concern
across industries we intend to expand on Cape's proven track record in
the SCADA/DCS and safety systems verification market through Wood
Group's global footprint. Cape's technology and culture are well
aligned with MSi Kenny's as demonstrated by our innovative technology
collaboration on previous simulator projects for major oil & gas
operators."
Notes to Editors Wood Group is an international energy services
company with around $7bn sales, employing around 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 Kenny is the world's largest independent specialist subsea,
pipeline and riser engineering and management contractor, employing
more than 2,800 people worldwide, part of international energy
services company, Wood Group. www.woodgroupkenny.com
MSi Kenny, a Wood Group Kenny business, is a specialized multiphase
consultancy experienced in the application of advanced technology for
the design and optimal operation of oil & gas production, pipeline and
processing facilities.
Cape Software provides software and services for operator training
simulators and logic validation for supervisory control and data
acquisition (SCADA) and distributed control (DCS) systems. Cape was
founded in 1990 and is located in The Woodlands, Texas.
SOURCE Wood Group
-0- 04/15/2014
/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; Cape Software
ST: Texas
IN: OIL UTI STW CPR HRD
SU: TNM
PRN
-- DA04807 --
0000 04/15/2014 06:00:00 EDT http://www.prnewswire.com
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
