Oilfield services and engineering firm Wood Group announced today it has acquired the fabrication and manufacturing business based in Aberdeen, Scotland.
The company has bought the trades and assets of Enterprise Engineering Service Limited (EESL), which recently went into administration, in a move to expand its present in the UK oil and gas sector.
“The acquisition of Enterprise Engineering Service Ltd.’s fabrication and manufacturing business broadens our repair order capabilities, enabling us to offer a fully integrated, end-to-end service that supports our clients in assuring the integrity of their assets”, Wood Group PSN CEO, Dave Stewart, said.
Wood Group Rescues Jobs In Aberdeen
This acquisition is expected to enhance the Group’s asset integrity management capabilities, add new segments to its service offer, drive efficiencies and extend the life of upstream and midstream assets in the UK oil and gas sector, the company informed.
The staff at EESL’s fabrication business based in Aberdeen will be transferred to Wood Group at the date of the acquisition and will remain at their existing facility.
Wood Group PSN CEO, Dave Stewart
According to the CEO, the Group is focusing on “enhancing value and driving cost efficiencies in the technical solutions” they provide.
New Employment Opportunities In Fabrication And Manufacturing
Following this acquisition, Wood Group hopes to leverage on the acquired company’s expertise of over 40 years in “manufacturing and fabrication solutions to the oil and gas sector”.
Stewart hopes this enable the Group to secure “jobs for the company’s current Aberdeen fabrication workforce with a view to creating new employment opportunities as we deeply broaden our fabrication capability in the future”.
“The Joint Administrators are delighted to conclude a sale of EESL’s manufacturing facility and key assets in Aberdeen to Wood Group, following a successful marketing exercise. We were confident that the excellent market reputation and facilities attached to EESL’s manufacturing division would generate interest and we are extremely pleased to have secured a sale to a major quality company such as Wood Group,”said Blair Nimmo, Joint Administrator and Head of Restructuring for KPMG in the UK.