Wood Group to sell Amec's nuclear operations

Wood Group has agreed to sell Amec Foster’s Wheeler’s North American nuclear operations to Kinectrics Inc for around CAD10m in cash.

The business being sold consist of Amec’s nuclear operations in Canada and the US together with a small operation in Romania.

The transaction in respect of Canadian and US operations is expected to close in the fourth quarter of this year subject to competition clearance in Canada. Meanwhile, the Romanian disposal is expected to close early next year, subject to regulatory approval there.