Worley sells North America turnaround and maintenance business
Published by Callum O'Reilly,
Senior Editor
Hydrocarbon Engineering,
Worley has announced the completion of the sale of the turnaround and maintenance business in North America to CAM Industrial Solutions.
Pro-forma information was provided in the Investor Day presentation available on the Worley website and previously announced on 9 May 2023.
The North America turnaround and maintenance business was Worley’s operating and shutdown maintenance craft work (consisting of approximately 6400 non-professional services people) in the US and Canada, and was part of Worley’s Americas Field Services.
This business predominantly supports oil refineries and petrochemical plants with most of its revenue derived from traditional work.
Worley’s construction and fabrication business in North America is not included in the sale.
Commenting on the announcement, Worley Chief Executive Officer, Chris Ashton, said: “A portfolio management transaction like this supports our strategy of delivering high value solutions in growth markets across the energy, chemicals, and resources sectors, and the ambition to grow our revenue from sustainability-related business across the portfolio. We will continue to work cooperatively with CAM Industrial Solutions and to support our people and customers, during the transition to new ownership.”
Read the article online at: https://www.hydrocarbonengineering.com/refining/30052023/worley-sells-north-america-turnaround-and-maintenance-business/
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