DCSIMG

Wood Group pumps £7.9m into Canadian pipeline firm

  • by GARETH MACKIE
 

Oil and gas services giant Wood Group has bought a Canadian pipeline consultancy for C$14.5 million (£7.9m) in a bid to tap into the growing market in the west of the country.

The Aberdeen-based firm said Sunstone Projects, which employs about 70 people, generated sales of C$21m last year and will be rebranded under Wood’s Mustang banner.

Mustang president Steve Knowles said: “The Canadian pipeline system is expected to expand to ensure access to markets for oil and gas produced in western Canada.

“The acquisition of Sunstone will strengthen our ability to provide our clients with services in this area. Sunstone’s capability and geographic presence are complementary to Wood Group Mustang’s existing pipeline business.”

Sunstone president Barry Bauhuis said: “As a part of a larger integrated engineering group we will continue to provide the same great service to existing clients while being able to pursue larger and more complex pipeline opportunities.”

 

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