Amec to acquire Australian firm GRD for £52m

Amec has signed a deal to buy Australian engineering and project development company GRD for £52m.

The UK-based consultant said its acquisition of the 850-strong firm would strengthen its resources expertise, particularly in copper, gold, uranium, nickel and iron.

Brikho: "capabilities and geographic coverage of GRD are highly complementary with Amec's existing business"

It added that Perth-based GRD, which specialises in mineral projects in Australia, Africa and South America, would boost its project delivery capabilities globally.

Amec chief executive Samir Brikho said: “The capabilities and geographic coverage of GRD are highly complementary with Amec's existing business and the acquisition is a further step towards the delivery of superior outcomes for clients in our chosen geographies and commodities.”

GRD chief executive Cliff Lawrenson added: “We see Amec as a world leader in its field and a natural partner for GRD given our complementary skills and service offerings. This transaction will deliver our people a great opportunity to consolidate the strength of our position and expand into new markets and new sectors as part of the broader Amec group.”

The deal is subject to GRD shareholder approval and is expected to become effective in mid-October.

It is the second move to strengthen the firm's global footing this month. On 9 July, Amec announced a joint venture with three Korean firms to tackle the nuclear, thermal, gas and renewables sectors in South Korea.