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| Proposed Disposal Of Amec Spie The board of Amec plc announces that it is initiating a sale process of Amec Spie. This follows the completion of the first stage of an ongoing review of Amec’s options for maximising long-term growth. Sir Peter Mason, Chief Executive, said: “Amec has grown three substantial businesses, which increasingly represent different investment propositions. Today, the scale of new opportunity in some end-markets - such as oil and gas, PPP and investment in the Amec Spie branch network - has made it increasingly clear that we do not have the resources to fully exploit the prospects in all three of our businesses and still achieve the growth and returns we want. The Board is initiating a sale process for Amec Spie, which includes Continental European Oil and Gas, Rail and Multitechnical Services activities in electrical and mechanical engineering, communications and nuclear. These activities generated total revenues of over Ј2 billion in 2004, the largest component of which was Multitechnical Services, with sales of Ј1.3 billion and pre-tax profits of Ј47 million. write your comments about the article :: © 2005 Construction News :: home page |