We need to not only build on our existing market positions but also to enhance our capabilities and expand our geographic coverage. We see this expansion as coming from a combination of acquisition and organic growth.
As well as building our presence in our established geographies of the UK and North America, we are looking to expand in the Middle East, Australasia and South America. Our new organisation structure is designed to promote collaboration between markets and geographies, to deliver enhanced growth.
2012 achievements included:
- Grew through acquisition: including Serco’s 600-person nuclear ESRC business in the UK; Unidel, a 260-person energy, resources and infrastructure engineering and consultancy business in Australia; and a 50 per cent stake in Kromav Engenharia S.A.
(KROMAV), a 200-person privately owned Brazilian offshore oil and gas and marine engineering company
- Created partnerships: a joint venture with Samsung Heavy Industries and Samsung Engineering (see page 14); a collaboration agreement with Aibel to jointly deliver projects for the oil and gas industry in the Norwegian Continental Shelf
- Expanded in the Middle East: awarded £330 million PMC contract by the Kuwait National Petroleum Company (KNPC) for a new oil refinery at Al Zour, Kuwait, which will be the largest refinery in the Middle East
- Promoted collaboration: a Dundee Precious Metals Inc subsidiary selected AMEC in Eastern Europe for the first time, to provide engineering services for a gold mine. Elsewhere, we combined our global mining capability with local South African delivery to support Vedanta Resources’ major new zinc mine
- Underlying revenue growth, excluding incremental procurement was 12 per cent in 2012, with further growth expected in 2013.