Wood Group enhances Canadian pipeline engineering capability with acquisition
HOUSTON, April 1, 2014 /CNW/ -Wood Group has acquired Sunstone Projects Ltd.
("Sunstone") of Calgary, Alberta, Canada for C$14.5 million. Sunstone is a
pipeline consulting company providing engineering, procurement and
construction management (EPCM) services to clients in the Canadian oil & gas
industry. Sunstone generated sales of approximately C$21 million in 2013 and
employs approximately 70 people.
Sunstone will be rebranded as Wood Group Mustang and operate within its
Canadian operations. Sunstone will continue to be led by the existing
management team under Sunstone President Barry Bauhuis.
Steve Knowles, president of Wood Group Mustang, said: "The Canadian pipeline
system is expected to expand to ensure access to markets for oil & gas
produced in Western Canada. The acquisition of Sunstone will strengthen our
ability to provide our clients with services in this area. Sunstone's
capability and geographic presence are complementary to Wood Group Mustang's
existing pipeline business. Sunstone has an excellent reputation for pipeline
project execution and will be an important part of our Canadian growth
Barry Bauhuis, president of Sunstone, said: "We are extremely excited to be
joining Wood Group. As a part of a larger integrated engineering group we will
continue to provide the same great service to existing clients while being
able to pursue larger and more complex pipeline opportunities."
Notes to Editors Wood Group is an international energy services company with
around $7bn sales, employing about 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.
Wood Group Mustang provides award-winning services to the global energy
industry. From concept to completion, Wood Group Mustang provides project
management, construction management, engineering and procurement services to
the offshore, onshore, pipeline, refining, chemicals, industrial and
automation sectors, operating in countries throughout Africa, Asia, Europe,
the Middle East, Latin America and North America. For more information, visit
www.mustangeng.com, www.wgmustang.ca or connect with us on Facebook, LinkedIn
Photo - http://photos.prnewswire.com/prnh/20140401/DA94649
SOURCE Wood Group
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Americas, Wood Group, Tel: +1 281 828 3505, email:
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Communications - Eastern Hemisphere, Wood Group, Tel: +44 (0) 1224 851 099,
email: email@example.com; Investor and analyst enquiries, Andrew
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CO: Wood Group
NI: OIL UTI MNA
-0- Apr/01/2014 06:00 GMT
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