John Wood Group
 | |
| Company type | Public limited company |
|---|---|
| LSE: WG. | |
| Industry | Oil and gas |
| Founded | 1982 |
| Headquarters | Aberdeen, Scotland, UK |
Key people | Ian Marchant (Chairman), Robin Watson (Chief Executive) |
| Products | Oil and gas engineering, production support, gas turbine maintenance |
| Revenue | US$9,890.4 million (2019)[1] |
| US$411.0 million (2019)[1] | |
| US$72.8 million (2019)[1] | |
Number of employees | 60,000 (2020)[2] |
| Website | www.woodplc.com |
John Wood Group plc is a multinational energy services company with headquarters in Aberdeen, Scotland. It is listed on the London Stock Exchange as well as being a constituent of the FTSE 250 Index.
History
The business was founded by Sir Ian Wood in 1982, when it split away from JW Holdings,[3] the largest fishing company in Scotland.[4] JW Holdings had diversified into the energy services business at the outset of the North Sea oil industry in the early 1970s.[5]
The company acquired Mustang Engineering Inc, an engineering business based in Houston, Texas in September 2000.[6] In 2002, the company was listed on the London Stock Exchange.[4]
In March 2017, the company announced it would acquire its rival, Amec Foster Wheeler, in an all stock deal, valued at approximately £2.2 billion.[7] The transaction was completed on 9 October 2017.[8]
In 2020 the nuclear business, mostly decommissioning work at Sellafield, was sold for £250 million to the US Jacobs Engineering Group which has a global nuclear business. The sale will reduce company debt and supports its increasing focus on growing areas like renewables.[9]
Operations
Wood provides a range of engineering, production support and maintenance management services to the energy and industrial sectors worldwide.[10]
See also
References
- ^ a b c "Annual Results 2019" (PDF). Wood Group. Retrieved 10 March 2020.
- ^ "About us". Wood Group. Retrieved 5 March 2020.
- ^ Gosden, Emily. "Billionaire Wood Group chairman Sir Ian Wood to retire". The Daily Telegraph. Retrieved 20 July 2017.
- ^ a b "Wood Group Company History and Heritage". woodgroup.com. Retrieved 3 April 2015.
- ^ Darroch, Valerie (31 December 2006). "Boss of the year: Sir Ian Wood reveals the secret of his success as he gets ready for a new role". Sunday Herald. Retrieved 27 April 2008.[dead link]
- ^ "Wood Group confirms signing of Mustang deal". European Power News. September 2000. Retrieved 7 April 2017.
- ^ "Wood Group agrees takeover of rival Amec Foster Wheeler - BBC News". Bbc.co.uk. 1 January 1970. Retrieved 13 March 2017.
- ^ "Wood Group completes £2.2bn takeover of Amec Foster Wheeler". City AM. 9 October 2017. Archived from the original on 9 October 2017. Retrieved 9 October 2017.
- ^ Black, Andrew (20 August 2019). "Energy services giant Wood pulls out of UK nuclear". BBC News. Retrieved 28 August 2019.
- ^ "Wood Group". Financial Times. Retrieved 7 April 2017.
External links
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| Companies and organisations |
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- Companies in the FTSE 250 Index
- Engineering companies of Scotland
- Energy engineering and contractor companies
- Oilfield services companies
- Companies based in Aberdeen
- Energy companies established in 1982
- Non-renewable resource companies established in 1982
- 1982 establishments in Scotland
- Companies listed on the London Stock Exchange