Engineering giant Wood Group has acquired Agility Projects for $164million in its drive to strengthen its Norwegian engineering capability.
The engineering, procurement, construction management, installation and commissioning subsidiary of Agility Group focuses on activities on the Norwegian Continental Shelf (NCS) with operations in Oslo, Stavanger, Bergen, Moss and an engineering office in Shanghai, China.
Agility Projects will operate within Wood Group Mustang’s offshore business and will be headed up by the current Agility Group chief executive, Otto Søberg, and the existing Agility Projects management team, Wood Group said in a statement.
“Agility Projects’ reputation is very well-established in Norway and represents a strategically important acquisition for Wood Group Mustang as it increases our exposure to the greenfield and brownfield engineering markets on the NCS,” said Steve Knowles, chief executive officer of Wood Group Mustang.
“Agility Projects complements Wood Group’s existing engineering activities in Norway and recently we successfully collaborated in winning the Ivar Aasen topside engineering project in Norway.”
Recommended for you
