John Wood Group

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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.

John Wood Group plc
Public limited company
Traded asLSEWG.
ISINGB00B5N0P849 Edit this on Wikidata
IndustryOil and gas
Founded1982
HeadquartersAberdeen, Scotland, UK
Key people
Ian Marchant (Chairman), Robin Watson (Chief Executive)
ProductsOil and gas engineering, production support, gas turbine maintenance
RevenueUS$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]
Websitewww.woodplc.com

HistoryEdit

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]

OperationsEdit

Wood provides a range of engineering, production support and maintenance management services to the energy and industrial sectors worldwide.[10]

See alsoEdit

ReferencesEdit

  1. ^ a b c "Annual Results 2019" (PDF). Wood Group. Retrieved 10 March 2020.
  2. ^ "About us". Wood Group. Retrieved 5 March 2020.
  3. ^ Gosden, Emily. "Billionaire Wood Group chairman Sir Ian Wood to retire". The Daily Telegraph. Retrieved 20 July 2017.
  4. ^ a b "Wood Group Company History and Heritage". woodgroup.com. Retrieved 3 April 2015.
  5. ^ 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]
  6. ^ "Wood Group confirms signing of Mustang deal". European Power News. September 2000. Retrieved 7 April 2017.
  7. ^ "Wood Group agrees takeover of rival Amec Foster Wheeler - BBC News". Bbc.co.uk. 1 January 1970. Retrieved 13 March 2017.
  8. ^ "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.
  9. ^ Black, Andrew (20 August 2019). "Energy services giant Wood pulls out of UK nuclear". BBC News. Retrieved 28 August 2019.
  10. ^ "Wood Group". Financial Times. Retrieved 7 April 2017.

External linksEdit