Wood Group

Rising a level higher from last year’s standings is the UK-based Wood Group, courtesy of its bold and aspirational decision to acquire engineering services firm Amec Foster Wheeler. Wood Group has announced its plan of executing an all-share purchase of its fellow British firm for approximately $2.69bn, thereby intending to create an enterprise with a combined value of an estimated $6.11bn. Through the combined business, which will provide services to the oil and gas, chemicals and mining sectors, Wood Group expects to reduce $134.50mn in costs. Also, Wood Group in January this year had announced securing a five year, multi-million dollar framework agreement to continue to provide engineering and project management services to Aramco’s onshore capital programmes in Saudi Arabia.