Share this release
Share on: Twitter
Share on: Facebook
Share on: LinkedIn
Latest news
London,
13
November
2014

Amec Foster Wheeler - a new force in global engineering, project delivery, asset support, power equipment and consultancy is unveiled and leadership team confirmed

  • 2013 annualised scope revenue of £5.5 billion1 and order book of £6.3 billion2
  • Combined, highly skilled workforce of over 40,000 people in 50 countries
  • Strong presence across oil and gas sector
  • Management team for four business units confirmed

Amec Foster Wheeler plc today announces the creation of a new force in global engineering, project delivery, asset support, power equipment and consultancy following the completion of the £5bn combination of AMEC plc and Foster Wheeler AG.

The new company, Amec Foster Wheeler, has a highly skilled workforce of over 40,000 in more than 50 countries, 2013 annualised scope revenues of £5.5 billion1 and a £6.3bn order book2. The combined company would have generated pro-forma trading profits of £521 million in 2013.

Amec Foster Wheeler designs, delivers and maintains strategic and complex infrastructure assets across a range of markets. It has a strong presence across the onshore and offshore oil and gas value chain – from production, through processing, gas monetisation, midstream, oil refining and chemicals.

Amec Foster Wheeler is also a major player in the mining, clean energy, power generation, environment and infrastructure markets, using its increased scale to widen and deepen customer relationships. In addition, Amec Foster Wheeler is a leading designer, fabricator and supplier of advanced boiler systems for the power generation and industrial markets.

The combination strengthens its already considerable positions in North America and Europe and further enhances its established presence in growth markets of the Middle East, Asia and Latin America. Amec Foster Wheeler has more entrenched market presence and penetration prospects and will also enjoy a broader spread of customers among both independent oil majors and the world’s national oil companies.

Based on 2013 pro-forma numbers, 56% of its revenues came from oil and gas, 19% came from clean energy, 9% from environment and infrastructure, 8% from the Global Power division and 8% from mining.

The engineering and project delivery operations will be managed through three geographic business units: Americas; Northern Europe & Commonwealth of Independent States; Africa, Middle East, Asia & Southern Europe. The Global Power Group, the power equipment business, will operate across all geographies.

These four business units will be supported by a global strategy and business development function - focused on the development of market and regional strategies, customer relationship management and business acquisition, and a project delivery function - to assure and drive project excellence and leverage Amec Foster Wheeler’s global talent and experience. High Value Execution Centres and Centres of Expertise will support this activity.

Reporting to Chief Executive Samir Brikho, the Group Presidents (see biographies in notes to editors below) for the four business units are:

The 10-strong Leadership Team is completed by:

  • Ian McHoul (Chief Financial Officer);
  • Jeff Reilly (Group President of Strategy & Business Development);
  • Jon Nield (Group Project Delivery Director);
  • Will Serle (Group Human Resources Director); and
  • Alison Yapp (General Counsel and Company Secretary).

Samir Brikho, Chief Executive of Amec Foster Wheeler, said: “In creating our new company we are building on the proud heritage, skills and customer relationships of two already successful and highly respected businesses. Amec Foster Wheeler operates in more than 50 countries worldwide, in strong end markets and throughout the value chain. With our strong management team and talented workforce, we will not only serve our customers better, but can also offer our highly skilled employees even better career opportunities. I am proud to be leading the combined business into a new phase of growth.”

Amec Foster Wheeler’s American Depositary Shares will begin trading on the New York Stock Exchange today on a ‘when issued’ basis under the ticker AMFW. The company’s ordinary shares are listed on the London Stock Exchange and its ticker will change from AMEC to AMFW at the UK market open tomorrow, Friday 14 November.

- Ends -

Notes to editors

IMPORTANT INFORMATION: 

An offer to purchase all of the issued and outstanding registered shares of Foster Wheeler AG (the “Offer”) has been made by AMEC plc (the “Offeror”) through AMEC International Investments BV, a wholly-owned subsidiary of the Offeror.

This material is for informational purposes only and does not constitute or form part of an offer to sell or the solicitation of an offer to buy or subscribe to any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This material is not an offer of securities for sale into the United States. No offering of securities shall be made in the United States except pursuant to registration under the US Securities Act of 1933, or an exemption therefrom.

In connection with the Offer, the Offeror has filed a registration statement on Form F-4 (as amended), which includes a prospectus, and a Tender Offer statement on Schedule TO (the “Schedule TO”). The Offer has been made exclusively by means of, and subject to, the terms and conditions set out in, an offer document containing and setting out the terms and conditions of the Offer (the “Offer Document”) and a letter of transmittal and form of acceptance (the “Acceptance Forms”) which were delivered to Foster Wheeler AG, filed with the United States Securities and Exchange Commission (the “SEC”) and mailed to Foster Wheeler AG shareholders.

The release, publication or distribution of this material in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this material is released, published or distributed should inform themselves about and observe such restrictions.

SHAREHOLDERS OF FOSTER WHEELER AG ARE URGED TO READ ALL DOCUMENTS REGARDING THE OFFER WHEN THEY BECOME AVAILABLE (INCLUDING THE EXHIBITS THERETO) AS THEY CONTAIN IMPORTANT INFORMATION ABOUT THE OFFER.

The Offer Document, the Schedule TO and other related documents filed by the Offeror and Foster Wheeler AG are available electronically without charge at the SEC's website, www.sec.gov. Materials filed with the SEC may also be obtained without charge at the Offeror’s website, www.amec.com or at Foster Wheeler’s website www.fwc.com, respectively.

While the Offer has been made to all holders of Foster Wheeler AG common shares, this material does not constitute an offer or a solicitation in any jurisdiction in which such offer or solicitation is unlawful. The Offer has not been made in, nor will deposits be accepted in, any jurisdiction in which the making or acceptance thereof would not be in compliance with the laws of such jurisdiction. However, the Offeror may, in its sole discretion, take such action as it may deem necessary to extend the Offer in any such jurisdiction.