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AMEC
From Wikipedia, the free encyclopedia
| AMEC plc | |
|---|---|
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| Type | Public company |
| Founded | 1982 |
| Headquarters | London, England |
| Key people | Samir Brikho (CEO) |
| Industry | Engineering / Construction |
| Revenue | £3,229.2 million (2006) |
| Operating income | £64.7 million (2006) |
| Net income | £219.2 million (2006) |
| Employees | 21,000 |
| 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, petrochemical, power generation, nuclear, pharmaceutical, defense, chemical, water and mining industries.
AMEC employs 21,000 people in over 30 countries including Australia, Canada, Chile, China, Iraq, Kuwait, Peru, Russia and the United States.
Turnover for the year ended 31 December 2006 was £3,229 million and the loss before tax was £108.8 million.
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.
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Recent activities have included:
- Sustainable oil and gas business for BP's Azerbaijan international operating company[1].
- Water and electricity contracts in joint venture with Fluor in Iraq worth approximately £500million[2]. Amec has also received $500m and $600m from 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 received an unknown sum from a Centcom contract[3].
AMEC was formed from the 1982 amalgamation of the Fairclough Group (founded 1883) and the William Press Group (founded 1913). Since then, AMEC has acquired Matthew Hall Group (in 1988), the French company Spie Batignolles (in 2003), the Canadian engineering firm AGRA (in 2000), and the Water Resources Company Ogden.
In 2004 AMEC was awarded a contract to assist in the rebuilding of Iraq, as part of a joint venture with Fluor Corp.
In 2005 AMEC acquired UK-based NNC, a large nuclear consulting company and its subsidiaries, including Ontario-based NSS, the nuclear safety division of OPG, which was spun-off when OPG was privatised.
In 2006 AMEC sold the Paris-based Spie Batignolles to a private equity company.
In June 2007 AMEC decided to sell its construction arm to Morgan Sindall[5]. The sale occurred on 30 July 2007.
In June 2007 AMEC was involved in a race controversy over its rejection of a job application from an Asian candidate when it was prepared to offer an interview to a less qualified candidate with a white sounding name [6].
Although Amec's construction business has been discontinued the following construction projects were notable: the Kielder Dam completed in 1982, the Cumberland Infirmary completed in 2001, the M6 Toll completed in 2003, new offices for HM Revenue and Customs at Longbenton completed in 2005, the Docklands Light Railway City Airport extension completed in 2005 and the University College London Hospital completed in 2005.
- ^ Amec briefing 'Developing a sustainable oil and gas business in Azabaijan accessed 26/05/06
- ^ Christodolou L., (2006) Corporate Carve Up: The Role of UK Corporations in Iraq March 2003 – March 2006, Corporate Watch
- ^ Iraq Subcontracting Conference, Transcript of FluorAmec Subcontracting Conference, 5 May 2004
- ^ AMEC: AMEC Awarded ‘Kizomba B’ Oil & Gas Project
- ^ AMEC: Sale of Business
- ^ Daily Mirror article
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