EUROPE

AMEC unit buys Ipedex

The AMEC group has added over 120 million Euro to its turnover with the acquisition of Ipedex SAS, an integrated services provider with some tasty contracts with French energy giant TotalFinaElf.

The deal was done through AMEC's wholly-owned French subsidiary, SPIE S.A

AMEC said Ipedex's specialist operations complement AMEC's existing international engineering services operations and will further assist it to increase market share in the oil and gas sector.

This market already accounts for around 19 per cent of AMEC's total turnover. AMEC said it will also derive additional synergies from links between Ipedex and Foraid, an oil and gas services company acquired by SPIE in 2001, which has an established position in the burgeoning West African energy market.

Ipedex employs some 1,700 people, mainly professional engineers, and is headquartered near Paris, France. It has a number of long-term oil and gas contracts in France, the Middle East, South East Asia and West Africa, for TotalFinaElf and a number of other international clients.

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