18 March 2008
Amec has agreed to sell its final construction business to its former subsidiary Spie. Spie will buy Amec's mechanical and electrical contractor Building and Facilities Services (BFS) for UK£ 117 million (€ 175 million) in cash. Last year it had sales of UK£ 333 million (€497 million) and made an operating profit of UK£ 10 million (€15 million).
The deal mark's Amec exit from traditional construction work. It says the sale of these 'non-core' divisions has generated gross cash of UK£ 320 million (€ 478 million). The businesses sold have annual sales of about UK£ 1,3 billion (€1,9 billion).