23 Oct 2018
US firm Jacobs Engineering Group Inc has agreed to sell its energy, chemicals and resources business to WorleyParsons for US$3.3 billion, in a deal that will double the size of the Australian engineering services firm.
The deal continues a shake-up of the engineering services industry, following Jacobs’ US$3.3 billion purchase of rival CH2M Hill Cos Ltd last year and the £2.2 billion (S$4 billion) takeover of Amec Foster Wheeler by UK oilfield services firm John Wood Group.
It comes as WorleyParsons emerges from a three-year downturn following the oil price crash, and positions it to tap growth in the refining and petrochemical sectors, with countries such as India building massive new plants.
To read more, please click on the following link(s): https://www.businesstimes.com.sg/energy-commodities/australias-worleyparsons-to-buy-jacobs-energy-resources-arm-for-us33b