Sales negotiations news: Amec to acquire Mactec
A deal has been struck between Amec and Mactec.
International business negotiations have resulted in the sale of engineering specialist Mactec UK to project management firm Amec.
Subject to regulatory approval, a sum of $280 million (£172 million) has been agreed upon for the sale, which is expected to proceed after June 2011.
Mactec was chosen for its variety of services that are in line with Amec's Earth & Environmental (E&E) business.
Commenting on the deal, chief operating officer for the British company Neil Bruce claimed the pairing would provide excellent opportunities for growth and the attraction of new clients.
"Mactec and E&E are highly complementary businesses, in terms of geographic footprint, customer base and service offering,” he said.
Similar comments were issued by Mactec chief executive officer Ann Massey, who expressed her excitement at the prospect.
Formed in 1848 as the Matthew Hall Group of Companies, Amec offers a wide range of services and has worked on a number of prestigious projects, including the Bruce A power station in Ontario and the world's first oil sands mine.