Amec Foster Wheeler divests nuclear operations in North America

Further to Amec Foster Wheeler’s announcement in June, parent company Wood recently entered into an agreement to sell its North American nuclear operations to Kinectrics Inc. Cash consideration for the transaction is approximately $10 million (Canadian) after adjustments for defined benefit pension-related debt and subject to closing adjustments.

The business being sold consists of Amec Foster Wheeler’s nuclear operations in Canada and the U.S., together with a small operation in Romania. At press time, the transaction with respect to Canadian and U.S. operations was expected to close by 2018, subject to competition clearance in Canada. The Romanian disposal is expected to close early in 2018, subject to regulatory approval in Romania.

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