Wood Group Acquires Shanahan Engineering
A subsidiary of international energy services company John Wood Group PLC ('Wood Group') has acquired Shanahan Engineering. The company had gross assets of Euro8.5m as at 31 March, 2009.
Shanahan Engineering provides power plant installation, commissioning and maintenance services to the power and industrial sectors mainly in the Eastern Hemisphere. Headquartered in Dublin, the company has offices in Italy, Japan, Turkey and the UK, and will operate within Wood Group's GTS division.
"The acquisition of Shanahan Engineering is part of our ongoing strategy to expand and enhance our EPC capability and extends our geographic footprint", said Mark Papworth, chief executive, Wood Group GTS. "It will reinforce our position as a solutions-oriented provider of power plant EPC services and enhance our ability to support clients' new power plant requirements internationally. Longer term, demand for fast track natural gas-fired generated power is expected to increase and we see this leading to strong demand for our services."
"We are delighted to be joining Wood Group," said James Greaney, senior vice president of Shanahan Engineering. "This brings together a strong set of complementary skills for our customers and presents development opportunities for the business and our people."
Founded in 1979, and headquartered in Dublin, Ireland, Shanahan Engineering provides power plant installation, commissioning and maintenance services mainly to the Eastern Hemisphere power market. The company operates through three divisions - Engineering, Procurement & Construction (EPC), Operations & Maintenance and Technical Field Services.
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