Engineering and project management company Amec has completed its merger with Switzerland-headquartered global engineering and construction company and power equipment supplier Foster Wheeler.
The newly created company, called Amec Foster Wheeler, has an annualised scope revenue of £5.5-billion and a £6.3-billion order book, with a workforce of more than 40 000 people in 50 countries.
“In creating our new company we are building on the proud heritage, skills and customer relationships of two already successful and highly respected businesses. 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 CE Samir Brikho comments.
The company says this combination strengthens its already considerable positions in North America and Europe and further enhances its established presence in the growth markets of the Middle East, Asia and Latin America.
“Amec Foster Wheeler has a 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,” the merged entity says.
The newly formed company’s engineering and project delivery operation will be managed through three geographic business units, namely the Americas, Northern Europe and the Commonwealth of Independent States and Africa, the Middle East, Asia and Southern Europe. Amec Foster Wheeler’s power equipment business, Global Power Group, 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, the company says.
Meanwhile, Foster Wheeler will voluntarily delist its registered shares from Nasdaq Global Select Market.