Jobs saved in acquisition
Wood Group snaps up EESL from administrators
The acquisition will further enhance Wood Group’s asset integrity management capabilities, it said.
It will add fabrication to its services, which focus on driving efficiencies and extending the life of upstream and midstream assets in the UK oil and gas sector.
It is thought the deal has saved just under half the jobs. When the administrators were appointed there were 108 employees at EESL in Aberdeen of which 54 staff were made redundant and a further 46 sent home pending further news.
Todays’ statement says employees at the Aberdeen fabrication business as at the date of the acquisition will transfer to Wood Group and will remain at their existing 4,000 sq m facility on Craigshaw Road.
Dave Stewart, Wood Group PSN’s CEO said: “Wood Group’s relentless focus is on enhancing value and driving cost efficiencies in the technical solutions we provide to our clients. 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.
“Our focus is on providing the expertise that enables the life extension of onshore and offshore assets, which is critical in this mature phase of the UKCS.
“We will leverage EESL’s more than 40 years of expertise providing manufacturing and fabrication solutions to the oil and gas sector, securing jobs for the company’s current Aberdeen fabrication workforce with a view to creating new employment opportunities as we deepen and broaden our fabrication capability in the future.”
Blair Nimmo, joint administrator and head of restructuring for KPMG in the UK said: “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.”