Global services firms have been caught in a storm. Engineering, procurement and construction (EPC) focused companies have been squeezed by tough contract terms, battered by inflation and haunted by legacy commitments.
Aberdeen services firm in turmoil, Wood, has appointed Iain Torrens as interim chief financial officer following a quick exit from former CFO Arvind Balan.
Aberdeen-headquartered Wood (LON:WG) has confirmed it has received a fresh approach from rival firm Sidara regarding a possible takeover bid.
Aberdeen-headquartered Wood Group (LON: WG) has been awarded a $120 million contract extension by Shell UK to provide brownfield engineering, procurement and construction (EPC) to onshore and offshore assets across the UK.
Aberdeen-headquartered Wood Group (LON:WG) has announced that its chief financial officer (CFO) Arvind Balan has resigned from his position with immediate effect.
Wood (LON:WG) has received a front-end engineering design (FEED) scope from Vattenfall and Copenhagen Infrastructure Partners (CIP) for the Zeevonk hydrogen facility in Rotterdam, the Netherlands.
Wood (LON:WG) chief executive Ken Gilmartin has made a "difficult announcement" to shareholders as the firm published its latest trading update.
Wood Group has been awarded a contract by Romania’s OMV Petrom to help upgrade one of its refineries to produce sustainable aviation fuel (SAF).
Aberdeen headquartered service company Wood (LON:WG) has picked up a contract with EnergyPathways (LON:EPP) for engineering work on its Marram Energy Storage Hub (MESH) project.
Aberdeen-headquartered Wood (LON: WG) has reported a "mixed quarter" as areas of the business delivered a "disappointing" period, CEO Ken Gilmartin shared.
Wood Group (LON: WG) expects to make around $165m after signing separate sales agreements to sell two of its non-core businesses.
Aberdeen-based Wood (LON: WG) has successfully assessed the technical feasibility of three carbon capture and storage (CCS) projects on the Norwegian Continental Shelf.
Wood had a rough landing this week, but the big boss reassured Erikka that things are on the turn. A number of suitors have come calling but failed to close, in testament to the company’s attractiveness Ken Gilmartin said.
As Sian Lloyd Rees's time as the UK’s supply chain champion comes to an end, she recommends that the government sets up a £150 million funding pot.
UK supermajor BP (LON: BP) and Aberdeen headquartered engineering firm Wood (LON: WG) have formed a strategic alliance for work on global assets.
Wood (LON: WG) has been awarded pre-front-end engineering and design (pre-FEED) work on Oman's Blue Horizons hydrogen project by the UK supermajor Shell (LON: SHEL).
Wood's share prices have dropped by almost 40% since Sidara announced it was stepping away from its takeover bid.
Wood (LON:WG) has pushed back the "put up or shut up" date for Sidara's takeover bid by a week as discussions "remain ongoing."
Wood is considering another offer for the company, from the Middle Eastern Sidara. Such a sale would likely help Wood access new international markets, but the loss of a FTSE250 company based in Aberdeen will be lamented. Given the challenges of the North Sea, is such a move inevitable?
Aberdeen-headquartered engineering services firm Wood Group (LON:WG) has rejected a third improved takeover bid from Dubai-based Sidara.
Wood (LON: WG) has landed work to decarbonise oil major TotalEnergies’ Elgin-Franklin platform in the North Sea, creating 40 jobs.
Aberdeen-based Wood (LON:WG) has appointed Jennifer Richmond to the newly created role of chief strategy officer (CSO).
Call from Sparta Capital Management comes a year after collapse of £1.7bn Wood takeover bid from private equity giant Apollo.
It has been reported that Aberdeen-headquartered engineering firm Wood Group (LON: WG) is planning to make hundreds of job cuts.
Net Zero Teesside Power (NZT Power) and the Northern Endurance Partnership (NEP) have dished out contracts with a combined value of around £4 billion.