Wood Group acquires stake in RANms

A subsidiary of John Wood Group has acquired a 51% stake in Regional and Northern Maintenance Service (RANms), a provider of operations support services to the oil and gas industry.

Offshore staff

Aberdeen, UK -- A subsidiary of John Wood Group has acquired a 51% stake in Regional and Northern Maintenance Service (RANms), a provider of operations support services to the oil and gas industry. Wood Group has options to acquire the remaining 49% of RANms over the next five years.

Last year, Wood Group and RANms formed a joint venture to provide operations and maintenance services for clients in the Asia-Pacific region. This venture has achieved its initial objectives and has provided the base for the further development of the relationship, the companies say.

06/01/2009

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