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AMEC plc

Last edited by crocodyl on April 22, 2008 - 11:48pm
Company Snapshot: 

AMEC plc is a British company formed from the amalgamation of the Fairclough Group and the William Press Group. AMEC operates as a high value consultancy company providing services in engineering and project management for the oil, gas, petrochemical, power generation, nuclear, pharmaceutical, defense, chemical, mining and water industries. AMEC is a member of the FTSE 100 Index after a promotion on Dec. 20th, 2007 when ICI went private.

Ownership status: 
Publicly traded
Number of employees worldwide: 
Estimated 19,000
Chief executive officer: 
Samir Brikho
Website: 
www.AMEC.com
Corporate accountability
Environment and product safety: 

AMEC is pushing for enormous and prestigious projects (roads, airports, dams, etc) at high social and environmental costs. Through their lobby groups construction companies try to pave the way for large infrastructure projects (they don't call for more bicycle lanes, for example, or support local public transport schemes), arguing that more roads, airports and big energy projects boost the economy and bring in more wealth.

Oil and Gas

The oil and gas industry accounts for 25% of AMEC's profits (see section on AMEC's Projects). AMEC is the world's biggest oil and gas industry services provider, having contracts with corporate giants such as BP, Shell, and Exxon-Mobile. These companies are involved in numerous crimes such as depleting the world's resources at enormous speed, severely polluting the environment, exploiting Third World countries, fuelling armed conflicts and supporting human rights abusing regimes. In addition, oil and gas companies have high stakes in nuclear energy, and are major contributors to climate change.

History
Other Information: 

Although Amec's construction business has been discontinued the following construction projects were notable: the Kielder Dam completed in 1982, the Cumberland Infirmary completed in 2001, the M6 Toll completed in 2003, new offices for HM Revenue and Customs at Longbenton completed in 2005, the Docklands Light Railway City Airport extension completed in 2005 and the University College London Hospital completed in 2005.

In 1988 AMEC went on to acquire Matthew Hall Group. In 1996 AMEC bought a 46% stake in Spie Batignolles and later went on to exercise an option to buy the other 54%. In 2000 AMEC bought Ogden Environmental & Energy Services. In 2004 AMEC was awarded a contract to assist in the rebuilding of Iraq, as part of a joint venture with Fluor Corp. In 2005 AMEC acquired UK-based NNC, a large nuclear consulting company and its subsidiaries, including Ontario-based Nuclear Safety Solutions ('NSS'), the nuclear safety division of OPG, which was spun-off when OPG was privatised. In 2006 AMEC sold the Paris-based Spie Batignolles to a private equity company. In 2007 AMEC sold its construction arm to Morgan Sindall. In 2008 AMEC sold its internal plant hire division to Speedy Hire.

Financial information
Total revenue: 
2,356 million (Euros) in 2007
Net Income: 
344.4 million (Euros) in 2007
Specialized Information
More detailed description of business strategy: 

Recent activities (Contracts) have included: Sustainable oil and gas business for BP's Azerbaijan international operating company. Water and electricity contracts in joint venture with Fluor in Iraq worth approximately £500million. Amec has also entered into contracts worth $500m and $600m with USAID for water resource projects in Northern and Southern Iraq, again, in a joint contract with Fluor (March 2004). AMEC is also a subcontractor on a $154m Fluor contract to restore electrical power systems (February 2004) and has generated unknown revenue from a Centcom contract. The ‘Kizomba B’ Oil & Gas contract for Exxon completed in 2005.

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