LONDON, Apr. 30 -- UK energy services company Wood Group PLC Monday said it had completed the takeover of Australian engineering firms Bexton Australian Pty. Ltd. and Bexton Holding Ltd. as part of its new strategy to establish "satellite" companies in the world's major oil provinces.
The two Perth-based companies, which specialize in brownfield engineering and project management services for oil and gas companies operating on Australia's North West Shelf, will operate under the name Bexton Wood Pty. Ltd. The value of the acquisitions was not disclosed.
"The acquisition of Bexton will provide Wood Group with an established engineering nucleus in Australia and position the group to grow in line with the upturn currently projected for the local market," said Wood Group Engineering's Asia-Pacific Regional Director Steve Wayman.
WGE Chairman Bill Edgar said the takeover was a "further step in the implementation of [its] strategy of establishing a series of satellite engineering companies in the major oil provinces around the world which will work closely with engineering hubs in Houston and Aberdeen."
Craig Gilbert, a founder of the Bexton companies, will remain as managing director of the new firm, said Wood Group.
