AMEC

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AMEC plc

Type	Public company
Founded	1982
Headquarters	London, England, UK
Key people	Samir Brikho (CEO)
Industry	Engineering
Revenue	£2,356.2 million (2007)
Operating income	£126.5 million (2007)
Net income	£344.4 million (2007)
Employees	22,000 (May 2008)
Website	www.amec.com

AMEC plc (LSE: AMEC) is a British company, headquartered in London. It carries out high-value consultancy, engineering and project management services for the oil and gas, mining, power generation, nuclear, process, water and mining industries. It is a member of the FTSE 100 Index after being promoted on the 20 December 2007 when ICI went private.

AMEC employs approximately 22,000 people in over 30 countries including Australia, Canada, Chile, China, Kuwait, Peru, Russia and the United States.

Speculation on the meaning of the name has led to many questions being posed to founding management. The widely understood meaning is A Managerial & Engineering Company, however this is not true, as the name is not an acronym, but is stand alone.

1 History
2 Recent contracts
3 Former construction business
4 References

[edit] History

AMEC was formed from the 1982 amalgamation of the Fairclough Group (founded 1883) and the William Press Group (founded 1913).

In 1988 AMEC went on to acquire Matthew Hall Group^[1].

In 1996 AMEC bought a 46% stake in Spie Batignolles and later went on to exercise an option to buy the other 54%^[2].

In 2000 AMEC bought Ogden Environmental & Energy Services^[3] and AGRA, Inc., a North American engineering and services company^[4].

In 2004 AMEC was awarded a contract to assist in the rebuilding of Iraq, as part of a joint venture with Fluor Corp.^[5].

In 2005 AMEC acquired UK-based NNC, a large nuclear consulting company and its subsidiaries, including Ontario-based Nuclear Safety Solutions ('NSS'), the nuclear safety division of OPG, which was spun-off when OPG was privatised^[6].

In 2006 AMEC sold the Paris-based Spie Batignolles to a private equity company^[7].

In 2007 AMEC sold its construction arm to Morgan Sindall^[8].

In 2008 AMEC sold its internal plant hire division to Speedy Hire^[9].

[edit] Recent contracts

Recent activities have included:

Sustainable oil and gas business for BP's Azerbaijan international operating company^[10].

Water and electricity contracts in joint venture with Fluor in Iraq worth approximately £500million^[11]. Amec has also entered into contracts worth $500m and $600m with USAID for water resource projects in Northern and Southern Iraq, again, in a joint contract with Fluor (March 2004). AMEC is also a subcontractor on a $154m Fluor contract to restore electrical power systems (February 2004) and has generated unknown revenue from a Centcom contract^[12].

The ‘Kizomba B’ Oil & Gas contract for Exxon completed in 2005^[13].

[edit] Former construction business

Although Amec's construction business has been discontinued the following construction projects were notable: the Kielder Dam completed in 1982^[14], the Cumberland Infirmary completed in 2001^[15], the M6 Toll completed in 2003^[16], new offices for HM Revenue and Customs at Longbenton completed in 2005^[17], the Docklands Light Railway City Airport extension completed in 2005^[18] and the University College London Hospital completed in 2005^[19].