Wood Group Sets Engineering Division for Growth (UK)
- Business & Finance
Wood Group, the international energy services company, is focusing on growing its world-leading engineering, production facilities support and gas turbine services businesses following the acquisition of PSN and the disposal of its Well Support division. To facilitate engineering growth, the Engineering division is being restructured into two market-facing groups: Subsea/Pipeline/Riser & Integrity Management and Process & Facilities.
The Subsea-related group was formed last year and operates under a Wood Group Kenny banner. It is led by Steve Wayman.
The new Process & Facilities Group will operate under a Wood Group Mustang banner and comprise Alliance Engineering, Energeticos, IMV Projects and Mustang. The integration of Alliance and Mustang is a key element of the formation of the new group.
“Our engineering businesses have been very successful over many years and have tremendous growth potential; together they can be a major power-house in the worldwide energy industry,” explained Mike Straughen, CEO of Wood Group’s engineering division. “The new organization will help to ensure we are best placed to take advantage of future opportunities in the global marketplace. It will enhance our ability to better serve our clients with expanded resources, broader geographic reach and more comprehensive services.”
The new Process & Facilities group will be led by Mustang President Steve Knowles. Edmund Lunde, president of Alliance Engineering, will assume a new role as vice president of Strategic Development for Wood Group Mustang and will lead integration planning and implementation.
“Wood Group’s engineering businesses employ some of the best people in the industry,” stated Steve Knowles. “The new organization will enable us to better harness the full capability and expertise of all our people worldwide and to provide them with greater career development opportunities.
“Alliance and Mustang are already leaders in the upstream oil & gas market, having designed more topsides for tension-leg platforms (TLPs) , spars and semi-submersible platforms worldwide than any other company. The combined capability of the new group will be a powerful force in the global market.”
Operations under the new structure will begin in January 2012.
Source: prnewswire, September 07, 2011;