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WG. Wood Group (john) Plc

133.40
-0.60 (-0.45%)
Last Updated: 10:49:22
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Wood Group (john) Plc LSE:WG. London Ordinary Share GB00B5N0P849 ORD 4 2/7P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.60 -0.45% 133.40 132.90 133.40 134.80 131.10 133.90 327,233 10:49:22
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Engineering Services 6.32B -356.3M -0.5150 -2.57 915.3M

Wood Group (John) PLC Disposal of non-core conveyor systems business (8049T)

25/03/2019 7:01am

UK Regulatory


Wood Group (john) (LSE:WG.)
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TIDMWG.

RNS Number : 8049T

Wood Group (John) PLC

25 March 2019

25 March 2019

Wood announces disposal of non-core conveyor systems business

Wood today announces further progress with its non-core asset disposal programme having agreed the sale of its Terra Nova Technologies business, a conveying and material handling systems solutions business, to Cementation Americas, a business owned by Murray & Roberts Holdings Ltd. Cash proceeds in respect of the disposal will be $38m, representing a multiple of 5.2x 2018 EBITA of $7.3m. The sale remains subject to normal conditions, with closing expected in Q2.

David Kemp, Wood chief financial officer commented: "Terra Nova Technologies has a strong track record in delivering material handling equipment to our customers. Wood's strategy going forward is to focus on asset light solutions rather than the manufacture / fabrication of equipment. The disposal makes a good contribution to our non-core asset disposal programme which is a key element of our deleveraging plan."

-ends-

Note to Editors:

Wood is a global leader in the delivery of project, engineering and technical services in energy, industry, and the built environment. We operate in more than 60 countries, employing around 60,000 people, with revenues of around $11 billion. We provide performance-driven solutions throughout the asset life cycle, from concept to decommissioning across a broad range of industrial markets, including the upstream, midstream and downstream oil & gas; power & process; environment and infrastructure; clean energy; mining; nuclear and general industrial sectors. www.woodplc.com

For further information contact: press.office@woodplc.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

DISKMGZFNDZGLZM

(END) Dow Jones Newswires

March 25, 2019 03:01 ET (07:01 GMT)

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