AMEC acquisition

AMEC is to acquire Australian engineering and development company GRD for UK£ 52 million (US$ 85 million) in cash.

The transaction is still subject to GRD shareholder and regulatory approval, so is not expected to be effective until October this year.

GRD is based in Perth and owns GRD Minproc, an engineering business specialising in mineral projects with operations in Australia, Africa and South America. GRD also owns Global Renewables, a development company that recycles municipal waste.

"The capabilities and geographic coverage of GRD are complementary with AMEC's existing business and the acquisition is a positive step for clients in our chosen regions and commodities," said Samir Brikho, AMEC chief executive.