Wood Group Acquires Korndorffer Contracting
John Wood Group has acquired the Dutch engineering company, Korndorffer Contracting International (KCI). The net asset value of KCI at April 2003 was Euro 0.7 million. KCI will operate within Wood Group's Engineering & Production Facilities business.
Based in Rotterdam, KCI had a turnover of Euro 6.2million in the year to December 2002, employs 45 personnel and specializes in design engineering for oil and gas clients in the Netherlands.
'This acquisition will strengthen our European brownfield and Greenfield engineering capability and is a strategic move into the Dutch sector of the North Sea,' said Bill Edgar, Group Director for Wood Group's Engineering & Production Facilities business.
KCI will retain its existing Managing Director, Wim Komdorffer, who was responsible for setting up the company in 1987. 'Joining Wood Group will help to facilitate further growth for KCI, and enable us to build on our existing excellent reputation in the industry, established over a number years,' said Wim. 'We will undoubtedly benefit from Wood Group's extensive global network.'
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