ABERDEEN-BASED Wood Group said yesterday one of its units had taken a majority stake in a South American engineering firm for just over £3.3million.
Mustang has bought a majority share of ISI Solutions, which operates in countries including Argentina, Colombia and Mexico. The Latin American company, to be rebranded as ISI Mustang, is focused on automation and control services for the region’s oil and gas, power and pipeline industries.
Mustang president Steve Knowles said: “ISI’s strong management team and proven track record provides Mustang with a robust platform for growth across South America and in Mexico.”