London, United Kingdom (02 October 2003) - AMEC, the international engineering services company, today announces the acquisition of selected assets of United States-based Lauren Kamtech in a move that enhances the project delivery capability of AMEC's North American forest industries and power operations.
Lauren Kamtech's US operations, which are headquartered in Alpharetta (near Atlanta), Georgia, specialise in construction, shutdown and maintenance services for large and complex pulp, paper and tissue plants. The company also specialises in the installation of gas-fired turbine generators for the power-generation sector. Lauren Kamtech employs 95 full time staff in the US, plus a construction workforce that typically ranges from 500 to approximately 2,000.
AMEC's North American operation is focused on the design of major projects, while Lauren Kamtech is strong in project delivery. The transaction also allows AMEC to build on its strong client relationships in the forest and power industries, where Lauren Kamtech also has an established track record.
The acquisition price was approximately US $5.9 million. In the transaction, AMEC acquires selected major contracts and equipment and will offer employment to the majority of Lauren Kamtech's US employees at closing.
Sir Peter Mason, AMEC Chief Executive, said: "This acquisition is another important step forward in our continuing strategy of offering an integrated service to our North American clients and brings AMEC a critical link in its delivery of major projects in the region.
"Lauren Kamtech serves markets where we have a particularly strong client base. This transaction means that we can not only provide them with a more integrated service, but that we are well placed to expand and benefit from any market upturn. Both our companies have worked together for more than five years on projects worth hundreds of millions of dollars and we are delighted to be bringing our two businesses together."
Notes to Editors:
In the industrial sector, AMEC provides engineering and technological expertise and support services to a wide range of private sector industries on a global basis. This area of activity accounts for approximately 10 per cent of total turnover and covers complete life of asset support, from consultancy to design, construction, commissioning and ongoing operational support.
Return to topTop