Australia's Worley Buys Parsons E&C

October 2004
ENR: Engineering News-Record;10/18/2004, Vol. 253 Issue 15, p17
Trade Publication
The article reports about North Sydney, Australia-based Worley Group Ltd.'s decision to sign an agreement to acquire Parsons E&C Corp. for $245 million. The new unit, after approval by Worley shareholders will be known as WorleyParsons. The acquisition price is 6.9 times Parsons E&C's pro forma 2003 earnings. Worley is primarily an oil and gas services firm that offers a range of services similar to Houston-based Halliburton. The acquisition will allow Worley to expand its technical capabilities at a time of consolidation in the oil and gas industry. The acquisition will open a big new market in Asia for the power side of the company.


Related Articles

  • Wrap-up.  // Chemical Week;1/3/1996, Vol. 158 Issue 1, p16 

    Presents several news briefs on acquisitions, sale of corporations and joint ventures. Bayer Corporation's acquisition of Monsanto's styrenic engineering plastics business; Hanson PLC to sell several United States businesses; Airgas' plans to buy Acetylene Gas; More.

  • EURO BRIEFS.  // Packaging Magazine;12/12/2002, Vol. 5 Issue 22, p6 

    Reports developments related to the packaging industry in Europe as of December 2002. Establishment of the RPC Dairy Packaging subsidiary of RPC Group; Sale of the Valmet Converting operations of Metso Corp. to Bobst Group; Acquisition of Avenir Print Service by Pechiney Soplaril Flexible Europe.

  • FUELS & FUELING INDUSTRY NEWS.  // National Petroleum News;Dec2001, Vol. 93 Issue 13, p58 

    Reports the developments in fuels and fueling industry in the United States as of December 2001. Joint venture between PointMedia and Bloomberg for financial news coverage of gas pumps; Acquisition of R.D.O.C. Inc. by Compass Energy Corp.; Expansion plan of Fuel Marketing Solutions.

  • Full Ownership.  // Ward's Auto World;Jul2004, Vol. 40 Issue 7, p11 

    Reports on the full ownership of DaimlerChrysler thermal products plant in Dayton, Ohio by Behr America Inc. Information on a joint venture entered into by Behr and Daimler; Significance of the Dayton facility to Behr's plan to expand in the U.S.; Operations of the Dayton facility.

  • Key dates.  // Packaging News;Feb2009, p3 

    The article presents the chronological events for Chesapeake company. It includes that in 1984 it had acquired Color-Box, expanding into point of purchase packaging and in 1985 it was named on the Fortune 500. Another in 1999, it acquired Field Group and forms a joint venture with Pacific Corp....

  • In brief.  // Airline Business;Jan2007, Vol. 23 Issue 1, p18 

    This section presents news briefs on the airline industry in Europe. German tour operator TUI Group has unveiled a new brand, TUIfly, for its seven in-house airlines. Meanwhile, British West Indies Airways has sold all of its London Heathrow slots to British Airways as part of a codeshare deal....

  • MFS spree adds Peppers and a stake in Sheraton Mirage. Lindström, Anders // Travel Trade;3/9/2005, p2 

    The article reports on the Gold Coast-based finance, tourism and property management group MFS's decision to acquire deluxe accommodation provider Peppers Hotels and Resorts and a stake in Queensland's two Sheraton Mirage resorts. MFS also took control of BreakFree, amassing 50.1 percent of the...

  • BRIEFS.  // Advanced Materials & Processes;Mar2006, Vol. 164 Issue 3, p26 

    The article reports on developments in the manufacturing industry worldwide. Arcelor has decided to acquire 41 percent of Eater Holding A.S. Alcan Inc. has invested on the expansion of the Alumar consortium alumina refinery in Sao Luis, Brazil. BASF AG has started its cash tender offer for all...

  • Buying and selling.  // European Power News;Oct2006, Vol. 31 Issue 7, p3 

    The article shares the author's insights about the agreement of Aggreko PLC to acquire substantially all activities except those relating to large gas turbines of GE Energy Rentals in Europe. Aggreko has proved that in business you can never stand still and every opportunity is there to snap up....


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics