Wood Group Nabs New Australian Safety Training Business
A subsidiary of international energy services company John Wood Group PLC has acquired Benchmark Global Pty Ltd., the Australian-registered parent company owning the Marine & Offshore Group Pty Ltd., a provider of safety and emergency response training services to the international offshore, maritime and mining industries (M&O). M&O is currently active in Australia, New Zealand, Singapore, Kazakhstan and Nigeria and is in the process of setting up operations in Tunisia, Libya and Egypt.
M&O had revenues of US $9.0 million and EBIT of US $1.2 million for the year ended June 30, 2007, and a gross asset value at that date of US $8.3 million. M&O will retain its trading names and continue to be led by Rick Parish, Chief Executive & Managing Director. M&O employs approximately 200 personnel and will operate within Wood Group's Engineering & Production Facilities division.
"The acquisition of M&O will expand our provision of safety training to oil & gas clients around the world," said Les Thomas, Group Director responsible for Wood Group's Production Facilities activities. "M&O has an excellent track record of supporting the needs of major clients from its nine current training facilities and can offer a rapid response to emerging needs utilizing its OPITO approved mobile training centers. We see their services as complementary to and supportive of our international expansion plans."
"We are delighted to be joining Wood Group," said Rick Parish, Chief Executive & Managing Director of M&O. "The ability to leverage Wood Group's international infrastructure and client base provides M&O with significant potential for growth. We look forward to working with Wood Group to create a leading global safety, emergency response and crisis management company servicing the oil & gas industry."
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