AMEC and SZPE form new joint venture in China to provide engineering services

08/08/2010


London, United Kingdom (9 August, 2010) "- AMEC, the international engineering and project management company, and Shanghai Zone Petrochemical Engineering Co. Ltd (SZPE), a chemical engineering company based in Shanghai, are delighted to announce the formation of a new joint venture in China, SZPE AMEC.

To create the new joint venture AMEC has purchased 35 percent of SZPE, with an option to purchase a further 15per cent on 1 January 2012.

The new venture will allow AMEC for the first time to undertake detailed engineering in China, supporting the company's long-term presence in the region, and the strategic aim of building capability to support customers.

SZPE AMEC will operate from an existing design office near Shanghai, with a new larger design office already planned also in the Shanghai area. The venture has the advantage of an existing high quality customer base and backlog, and a geographical fit with AMEC's existing operations in China. SZPE AMEC employs some 120 skilled engineers, with further expansion planned to support new projects.

"This new venture takes us an important step forward in our long association with China," said Tony Cruddas, President of AMEC's Growth Regions operations. "It adds a new service to our existing strong positions in project management and basic engineering."

Ross Gibson, AMEC's Regional Director for China, added: "The deal provides us with the necessary licences to undertake detailed engineering in China, which in turn supports our strategy to build amore consistent flow of engineering work in the region and achieve our plans for growth."

Mr Zhang, the owner and General Manager of SZPE said: "I am very pleased to see the creation of SZPE AMEC. Access to AMEC's expertise in delivering large and complex projects, and in particular their world-class project management and risk management expertise will help SZPE, a relatively new enterprise, grow and give us the opportunity to deliver much bigger projects for our customers."

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