Wood Group Acquires Z.TEC GmbH Energy Service

A subsidiary of John Wood Group has acquired Z.TEC GmbH Energy Service ('Z.TEC'), a company based in Moers, Germany, providing services to heavy industrial gas turbine users in Germany and other parts of central Europe. Z.TEC will operate as part of Wood Group's Gas Turbine Services division. Z.TEC had revenues of €8.2 million for the year 2002, together with estimated revenues of approximately €11 million in 2003 and estimated net assets of €2 million as at 31 December 2003. Its previous owners, Ulrich Zumbusch, Hans-Jurgen Ciesielski and Hans-Jurgen Werning will remain with the company as joint Managing Directors.

Allister Langlands, Group Deputy Chief Executive and Chief Executive of Gas Turbine Services, said: 'Z.TEC has achieved considerable success in Germany and will increase Wood Group's field service capabilities in Europe and provide opportunities for pull through of component repair, parts supply and generator services.'