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SOURCE Wood Group
ABERDEEN, Scotland, Oct. 9, 2013 /PRNewswire/ -- John Wood Group PLC ("Wood Group" or the "Group") is an international energy services company employing over 43,000 people worldwide and operating in over 50 countries. The Group provides a range of engineering, production support, maintenance management and industrial gas turbine overhaul and repair services to the oil & gas, and power generation industries worldwide.
Bob Keiller, CEO of Wood Group said:
"Today's announcement is an important step in the ongoing development of the Group's strategy. The JV with Siemens will bring together two complementary businesses and create a differentiated service offering for a global customer base. Our joint ventures with OEM relationships typically deliver stronger performance, and, as we look ahead, we see good potential for the JV."
Mark Dobler, CEO Wood Group GTS said:
"The JV will bring together Wood Group's capabilities in the areas of asset operations, maintenance, risk management & life-cycle optimization with the aftermarket design, repair & manufacturing capabilities of TurboCare to deliver greater flexibility, greater market reach and an expanded footprint to service customers. The JV will be a significant integrated rotating equipment service provider to the global power generation, oil & gas and industrial sectors. I look forward to leading the JV which will have approximately $1bn of revenue and around 4,500 employees around the world."
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