Support services group sells Canadian business to Panama-based Willbros for £11m
project management and services firm Amec has completed the sale of its US Midwest Pipelines business to a subsidiary of Panama-based contractor Willbros Group.
The Canadian business was sold for £9m plus working capital of about £2m.
Midwest Pipeline generated revenues of £55 million (Cdn$115 million) in the year ended 31 December 2006.
The move was inline with AMEC’s strategy, announced in December 2006, of focusing on core businesses in the energy and process sectors and divesting its built environment and other non-core specialist businesses.
The firm sold its property developments and building and civil engineering businesses in June.
No comments yet