X

Get our occasional Market Report emails

sent straight to your inbox

There’s no charge for this.

Getting latest data loading
Home / AMEC Shares

AMEC Shares

A multinational consultancy, Amec Foster Wheeler plc was a British company specialising in project management and engineering for markets that included oil, gas and chemicals, as well as mining, power and infrastructure. The company possessed offices in over 55 countries and employed over 40,000 staff from across the globe, including countries like China, India and the Unites States.

AMEC was formed in 1982 and was eventually acquired and merged into the Wood Group for a fee of £2.2 billion in October 2017. The company was the result of the joining between Leonard Fairclough & Son and the William Press Group. The company’s first directive was to provide engineering services in Europe, which spawned the rail construction business called AMEC SPIE.

Throughout its lifespan, AMEC underwent numerous adaptions and restructures, continuing to strengthen in key areas, beginning with the complete acquisition of the remaining parts of Spie in 2003 thanks to the help of the Barclays Private Equity Finance. Further acquisitions at the turn of the early 2000s included Ogden Environmental & Energy Services, AGRA Monenco Inc and Lauren Kamtech’s operations in the United States. The 2000s proved to be a period of smart business for the company, acquiring the likes of Rider Hunt International, Geomatrix Consultants & AllDeco in 2008. AMEC continued to expand as it pushed towards the 2010s with purchases of Currie & Brown, Burman Griffiths and Entec UK in a £61.2million purchase

Moving from strength to strength, AMEC were responsible for a number of successful, high-profile projects. Although its UK construction business was sold in 2007, it created a lasting legacy with a list of completed developments which included the Cumberland infirmary, the M6 toll and new offices for HM Revenue and Customs. Two other distinguished facilities were also built by the company, including the University College London Hospital in 2005 and the New York Times Building in 2007.

Its most high-profile purchase was the takeover of its rival Swiss company Foster Wheeler. Once the acquisition was completed, the company changed its name to AMEC Foster Wheeler permanently until its sale in 2017. Despite its success, the purchase was unfortunate in that it coincided in a downturn of fortunes in both the gas and oil industries. The following financial difficulties led to the resignation of chief executive Samir Birkho.

During its trading period, a third of Amex Foster Wheeler’s turnover came from Europe. With a further 50% coming from North America and 12% from the rest of the world.

img
Latest Trading Opportunities

Upcoming UK100/250 Dividend List

View Thursday 31 October 2024

Week in Advance: Monday 28th - Friday 1st November 2024

View Friday 25 October 2024

Upcoming UK100/250 Dividend List

View Thursday 24 October 2024

Week in Advance: Monday 21st - Friday 25th October 2024

View Friday 18 October 2024

Upcoming UK100/250 Dividend List

View Friday 18 October 2024

Get our Market Report emails sent straight to your inbox

Don’t miss out on regular trading opportunities!

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
.