AMEC Sells AMEC SPIE Capag to French Company

AMEC plc has sold its pipelines construction business AMEC SPIE Capag to the French company Entrepose Contracting SA.

This furthers AMEC's strategy, announced in December 2006, of focusing on its core businesses in the Energy and Process sectors and divesting its Built Environment and other non-core specialist businesses. The transaction follows the sale of AMEC's interest in AMEC SPIE Rail Systems Ltd, Buchan Concrete Solutions and AMEC Dynamic Structures, announced earlier this year.

AMEC SPIE Capag specialises in the construction of onshore pipelines, and facilities such as compression, pumping and metering stations, hydrocarbon storage systems, and water supply and distribution networks. It has 293 employees, generated revenues of £133 million in the year ended 31 December 2006, and had gross assets of £65 million at 31 December 2006.

Chief executive Samir Brikho said:

"We are pleased to have reached agreement with Entrepose and believe they will be an excellent new owner for this business. This is another important step in our divestment programme as we continue to deliver on our strategy to make AMEC a leading supplier of high value consultancy, engineering and project management services to the world's energy and industrial process markets."

Entrepose Contracting, SA is an independent group specialised in the design and construction of complex industrial projects in the oil, gas and energy sectors and in water. From creating transport and storage solutions to delivering turnkey projects, the Group is constantly developing its expertise in conceptual engineering, process design and contracting in sensitive environments. Entrepose Contracting places particular emphasis on standards compliance in terms of Quality, Health & Safety and Environmental Management (QHSE accreditations), and possesses unique know-how enabling it to meet the most stringent requirements in terms of the highest performance levels. Entrepose Contracting has operations in countries including Algeria, Nigeria and the United Kingdom.

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Posted 30/05/07

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