AMEC acquisition of GRD finalised

17/11/2009


London, United Kingdom (17 November 2009) – AMEC, the international engineering and project management company, announced today that its acquisition of GRD Limited (GRD) is now finalised.

GRD today received Australian Federal Court approval for the acquisition by way of a scheme of arrangement following the shareholder approval obtained on 10 November 2009. All necessary approvals have now been obtained and the scheme is effective. The scheme will be implemented on 30 November 2009 when the scheme consideration of A$0.55 per GRD share will be paid to GRD shareholders. Total consideration for the transaction is A$106 million in cash, funded from existing AMEC cash balances.

GRD’s main business is GRD Minproc, a world-class engineering and project delivery business specialising in the design, procurement and construction of mineral projects, with its main operations in Australia, South Africa and South America.

AMEC and Minproc have complementary expertise: Minproc is internationally recognised for expertise in process engineering, particularly in copper, gold, uranium, nickel and iron ore and AMEC in this sector is recognised for its mining consulting services, engineering studies and project delivery. Together, the businesses will have operations giving almost total global coverage and a strong client base, which includes BHP Billiton, Rio Tinto, Anglo and Vale.

-This acquisition supports our long-term strategy of growing our mining business globally, and of strengthening our presence in Australasia,” said Samir Brikho, AMEC Chief Executive. -Bringing AMEC and Minproc together creates a global mining business that will deliver projects for our customers seamlessly, consistently and to the highest standards.”

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