Amec sells non-core divisions to Morgan Sindall E-mail
Monday, 04 June 2007

Amec today sold two of its four Built Environment businesses to Morgan Sindall. 
 

Morgan Sindall will acquire Property Developments and Building and Civil Engineering.
 
Sindall will pay a £55m for the businesses. Amec will make approximately £26m from the sale, as the businesses carry liabilities of £29m.
 
The move follows Amec's sale of four specialist businesses; Amec SPIE Capag, Amec's interest in Amec SPIE Rail Systems Ltd, Buchan Concrete Solutions and Amec Dynamic Structures, announced earlier this year.
 
Amec chief executive, Samir Brikho, said: "This transaction is an excellent outcome for Amec shareholders and an important milestone in delivering the strategy we presented in December 2006. Morgan Sindall not only provides a strategic fit for these businesses, but also a good new home, and strong prospects for their future. We wish them well.
 
"Once our divestment programme is complete we will then move ahead with our strategy to further build Amec's position as the leading provider of consultancy, engineering and project management services to clients in energy and industrial process markets."

 

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