AmecFW in selloff campaign

Multinational

LONDON, March 2, 2017 – Contractor Amec Foster Wheeler on Thursday agreed to the sale of one of its power group business units, further raising the proceeds from its non-core disposal drive.

AmecFW’s boiler unit will be sold to Sumitomo Heavy Industries. Scheduled to close in the second quarter, the transaction represents a value of some USD 168 million.

The deal adds to previous selloffs made under the non-cose disposal programme, which included the sale in January of Aquenta Consulting to Jacobs Group for almost USD 26 million.

AmecFW also let go of shareholdings in Petropower Energía and Incheon Bridge Company, sold for USD 49 million and USD 38.8 million, respectively, pushing the aggregate projected income to USD 302 million.

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