Amec disposals

19 March 2008

Amec is to sell two of its four construction businesses to fellow UK company Morgan Sindall for UK£ 26 million (€ 38 million) net in cash. The divestments are part of Amec's strategy to exit construction and focus on the oil, gas and nuclear power sectors.

The divisions being sold are its property and development arm, Amec Developments Ltd (ADL) and Design and Project Services (DPS), which is active in building and civil engineering. They had total revenues of UK£ 758 million (€ 1,11 billion) last year and made a pre-tax loss of UK£ 14 million (€ 20 million).

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