John Wood Group
Type | Public limited company |
---|---|
Traded as | LSE: WG. |
Industry | Energy and Built Environment |
Founded | 1982 |
Founder | Ian Wood |
Headquarters | Aberdeen, Scotland, UK |
Key people | Roy Franklin (Chairman), Robin Watson (Chief Executive) |
Products | Engineering and consulting |
Revenue | US$7,564.3 million (2020)[1] |
Operating income | US$214.4 million (2020)[1] |
Net income | US$(228.1) million (2020)[1] |
Number of employees | 40,000 (2021)[2] |
Website | www.woodplc.com |
John Wood Group plc, commonly known as Wood, is a British multinational engineering and consulting business with headquarters in Aberdeen, Scotland. It is listed on the London Stock Exchange as well as being a constituent of the FTSE 250 Index.
History[]
The business was founded by Sir Ian Wood in 1982, when it split away from JW Holdings,[3] the largest fishing company in Scotland.[4] JW Holdings had diversified into the energy services business at the outset of the North Sea oil industry in the early 1970s.[5]
The company acquired Mustang Engineering Inc, an engineering business based in Houston, Texas in September 2000.[6]
In 2002 the company was listed on the London Stock Exchange.[4]
In March 2017, the company announced it would acquire its rival, Amec Foster Wheeler, in an all stock deal, valued at approximately £2.2 billion.[7] The transaction was completed on 9 October 2017.[8]
In 2020 the nuclear business, mostly decommissioning work at Sellafield, was sold for £250 million to the US Jacobs Engineering Group which has a global nuclear business. The sale will reduce company debt and supports its increasing focus on growing areas like renewables.[9]
Operations[]
Wood provides a range of engineering, production support and maintenance management services to the energy and industrial sectors worldwide.[10]
See also[]
References[]
- ^ a b c "Annual Results 2020" (PDF). Wood Group. Retrieved 16 March 2021.
- ^ "Our business". John Wood plc. Retrieved 20 October 2021.
- ^ Gosden, Emily. "Billionaire Wood Group chairman Sir Ian Wood to retire". The Daily Telegraph. Retrieved 20 July 2017.
- ^ a b "Wood Group Company History and Heritage". woodgroup.com. Retrieved 3 April 2015.
- ^ Darroch, Valerie (31 December 2006). "Boss of the year: Sir Ian Wood reveals the secret of his success as he gets ready for a new role". Sunday Herald. Retrieved 27 April 2008.[dead link]
- ^ "Wood Group confirms signing of Mustang deal". European Power News. September 2000. Retrieved 7 April 2017.[dead link]
- ^ "Wood Group agrees takeover of rival Amec Foster Wheeler". BBC News. 13 March 2017. Retrieved 2 September 2020.
- ^ "Wood Group completes £2.2bn takeover of Amec Foster Wheeler". City AM. 9 October 2017. Archived from the original on 9 October 2017. Retrieved 9 October 2017.
- ^ Black, Andrew (20 August 2019). "Energy services giant Wood pulls out of UK nuclear". BBC News. Retrieved 28 August 2019.
- ^ "Wood Group". Financial Times. Retrieved 7 April 2017.
External links[]
- Engineering companies of Scotland
- Energy engineering and contractor companies
- Oilfield services companies
- Companies based in Aberdeen
- Energy companies established in 1982
- Non-renewable resource companies established in 1982
- 1982 establishments in Scotland
- Companies listed on the London Stock Exchange
- British companies established in 1982