AMEC

Infobox_Company
company_name = AMEC plc
company_
company_type = Public company (lse|AMEC)
foundation = 1982
location = London, England, UK
key_people = Samir Brikho (CEO)
industry = Engineering
products =
revenue = £2,356.2 million (2007)
operating_income = £126.5 million (2007)
net_income = £344.4 million (2007)
num_employees = 23,000 (July 2008)
homepage = [http://www.amec.com/ www.amec.com]

AMEC plc (lse|AMEC) is a British company, headquartered in London. It carries out high-value consultancy, engineering and project management services for the oil and gas, mining, power generation, nuclear, process and water industries. It is a member of the FTSE 100 Index after being promoted on the 20 December 2007 when ICI went private.

AMEC employs more than 23,000 people in over 30 countries including Australia, Brazil, Canada, Chile, China, Kuwait, Peru, Russia and the United States.

Speculation on the meaning of the name has led to many questions being posed to founding management. The widely understood meaning is A Managerial & Engineering Company.

History

AMEC was formed from the 1982 amalgamation of the Fairclough Group (founded 1883) and the William Press Group (founded 1913). In 1988, AMEC went on to acquire Matthew Hall Group. [ [http://www.actuaries.org.uk/files/pdf/library/TFA-041/0542-0553.pdf Notes on Financial Times Actuaries Index 1988] ]

In 1996, AMEC bought a 46% stake in Spie Batignolles and later went on to exercise an option to buy the other 54%. [ [http://findarticles.com/p/articles/mi_qn4158/is_19961221/ai_n14072331 Amec firmly in Europe with £40m Spie buy] ]

In 2000, AMEC bought Ogden Environmental & Energy Services [ [http://www.bizjournals.com/phoenix/stories/2000/10/30/daily10.html Amec buys Ogden Corp subsidiary] ] and AGRA, Inc., a North American engineering and services company. [ [http://www.amec.com/about/aboutwide.asp?pageid=24 AMEC history - 2000 acquisition of AGRA] ] In 2004, AMEC was awarded a contract to assist in the rebuilding of Iraq, as part of a joint venture with Fluor Corp.. [ [http://www.guardian.co.uk/Iraq/Story/0,,1177375,00.html Amec deal saves Government blushes in Iraq] ] In 2005, AMEC acquired UK-based NNC, a large nuclear consulting company and its subsidiaries, including Ontario-based Nuclear Safety Solutions ('NSS'), the nuclear safety division of OPG, which was spun-off when OPG was privatised. [ [http://www.the-eic.com/News/Archive/2005/Jun/Article595.htm Amec offers to buy NNC Holdings] ] In 2006, AMEC sold the Paris-based Spie Batignolles to a private equity company. [ [http://www.building.co.uk/story.asp?storycode=3067853 Amec sells Spie for £707m] ] In 2007, AMEC sold its construction arm to Morgan Sindall. [ [http://www.amec.com/news/mediareleasedetails.asp?Pageid=876&MediaID=1215 AMEC: Sale of Business] ] In 2008, AMEC sold its internal plant hire division to Speedy Hire. [ [http://www.building.co.uk/story.asp?sectioncode=284&storycode=3103297&c=1 Speedy Hire buys Amec equipment hire arm] ] Also in 2008, AMEC bought project services company Rider Hunt International. [ [http://www.amec.com/news/mediareleasedetails.asp?Pageid=876&MediaID=1277 AMEC acquires leading project services company Rider Hunt International] ]

Operations

Amec's operations are structured into "Natural Resources", "Power & Process" and "Earth & Environmental". [ [http://www.amec.com/uploadfiles/RNS_ANNOUNCEMENT_FINAL07.pdf Amec Preliminary Results 2007] ]

The "Natural Resources" business carries out oil and gas services, oil project management and a modest amount of mining services. The Company has had extensive involvement in North Sea oil rig drilling and production platform design and fabrication. Examples of international projects include contracts to provide oil services to the Kuwait National Petroleum Company [ [http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6VJH-4PSBWT7-H&_user=10&_rdoc=1&_fmt=&_orig=search&_sort=d&view=c&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=d82a66b3c9939df482897b7f1f02729a Amec wins contract to upgrade three Kuwaiti refineries] ] and to BP's Azerbaijan international operating company. [ [http://www.amec.com/uploadfiles/projects/Developing%20a%20sustainable%20oil%20and%20gas%20business%20in%20Azerbaijan.pdf Amec briefing 'Developing a sustainable oil and gas business in Azabaijan] accessed 26/05/06]

The "Power and Process" business designs and delivers infrastructure for companies operating in the power generation and nuclear sectors. It is currently undertaking various projects to improve the gas and electricity infrastructure in the UK. It has also recently won a contract to restart two nuclear reactors for Bruce Power. [ [http://www.electricity-today.com/et/issue0707/Climate_Change_Challenges.pdf Addressing climate change challenges] ] It has also delivered electricity contracts in joint venture with Fluor in Iraq [Christodolou L., (2006) Corporate Carve Up: The Role of UK Corporations in Iraq March 2003 – March 2006, Corporate Watch] and is currently involved in a consortium which is active cleaning up Sellafield. [ [http://business.timesonline.co.uk/tol/business/industry_sectors/industrials/article4319542.ece Amec Group scoops deal to clean up Sellafield] The Times, July 2008]

The "Earth & Environmental" business provides geological and environmental services.

The "Investments business" is now solely involved in wind energy schemes.

Former construction business

Although Amec's construction business has been discontinued the following construction projects were notable: the Kielder Dam completed in 1982, [ [http://sine.ncl.ac.uk/view_structure_information.asp?struct_id=3544 Structure information] ] the Cumberland Infirmary completed in 2001, [ [http://www.visitcumbria.com/hospitals.htm Visit Cumbria] ] the M6 Toll completed in 2003, [ [http://www.iht.org/motorway/m6toll.htm Motorway Archive] ] new offices for HM Revenue and Customs at Longbenton completed in 2005, [ [http://www.amec.com/sectors/sectors_2ndlevel.asp?PageID=253 Amec: Public & Private buildings] ] the Docklands Light Railway City Airport extension completed in 2005, [ [http://www.londoncityairport.com/index.php?mode=news&action=showStory&sId=936 Docklands Light Railway - London City Airport extension now open] ] the University College London Hospital completed in 2005 [ [http://www.uclh.nhs.uk/News/2002/May/ University College London Hospital wins award] ] and the New York Times Building completed in 2007. [ [http://www.osha.gov/pls/oshaweb/owadisp.show_document?p_table=NEWS_RELEASES&p_id=11682 New York Times Project added to National OSHA Partnership with AMEC Americas] ]

References