London, United Kingdom (02 October 2003) - AMEC, the international engineering services company, today announces the acquisition of selected assets of United States-based Lauren Kamtech in a move that enhances the project delivery capability of AMEC’s North American forest industries and power operations.
Lauren Kamtech’s US operations, which are headquartered in Alpharetta (near Atlanta), Georgia, specialise in construction, shutdown and maintenance services for large and complex pulp, paper and tissue plants. The company also specialises in the installation of gas-fired turbine generators for the power-generation sector. Lauren Kamtech employs 95 full time staff in the US, plus a construction workforce that typically ranges from 500 to approximately 2,000.
AMEC’s North American operation is focused on the design of major projects, while Lauren Kamtech is strong in project delivery. The transaction also allows AMEC to build on its strong client relationships in the forest and power industries, where Lauren Kamtech also has an established track record.
The acquisition price was approximately US $5.9 million. In the transaction, AMEC acquires selected major contracts and equipment and will offer employment to the majority of Lauren Kamtech’s US employees at closing.
Sir Peter Mason, AMEC Chief Executive, said: “This acquisition is another important step forward in our continuing strategy of offering an integrated service to our North American clients and brings AMEC a critical link in its delivery of major projects in the region.
“Lauren Kamtech serves markets where we have a particularly strong client base. This transaction means that we can not only provide them with a more integrated service, but that we are well placed to expand and benefit from any market upturn. Both our companies have worked together for more than five years on projects worth hundreds of millions of dollars and we are delighted to be bringing our two businesses together.”
Notes to Editors:
- The acquisition of Lauren Kamtech’s US assets follows the recent acquisitions in France of Ipedex, and Foraid, which provide specialist services to the oil and gas sector. These acquisitions broadened the geographical scope and technical depth of AMEC’s service to its clients. As with Ipedex, which brought with it a longstanding relationship with Total, Kamtech brings with it longstanding client relationships with major forest industry clients.
- AMEC’s power, forest and infrastructure division provides combined services including feasibility studies, preliminary engineering, detailed engineering, engineering management, project management, capital equipment procurement, construction management, EPC delivery, forest industry consulting and infrastructure land surveying/land development.
- AMEC’s forest industry unit provides global capability through an international network of resources. The unit has designed and constructed some of the world’s largest and most technologically advanced integrated pulp, paper and board mills. It also has provided services for close to 30 tissue and towel machines in the recent past. AMEC’s forest industry unit has offices in (US) Atlanta, Greenville, S.C., Jacksonville, Fla.; (Canada) Vancouver, Montreal, Toronto, Nanaimo, Grande Prairie, Halifax; and (international) Santiago, Chile and Auckland, New Zealand.
In the industrial sector, AMEC provides engineering and technological expertise and support services to a wide range of private sector industries on a global basis. This area of activity accounts for approximately 10 per cent of total turnover and covers complete life of asset support, from consultancy to design, construction, commissioning and ongoing operational support.