UK services giant Wood Group has completed its merger with Aberdeen-based Production Services Network (PSN) to create brownfield services provider Wood Group PSN.
The newly formed company will have a workforce of 23,000 personnel operating in 35 countries and is expected to generate revenues of about $3 billion per year.
The company will be based in Aberdeen but be split into three operating regions – UK, Americas and International – with a senior manager in each region responsible for safety, financial performance and growth.
“Wood Group PSN will have a larger footprint, deeper resources and capabilities and, by selecting best practices, be able to deliver additional value to customers,” Wood Group chief executive Allister Langlands said.
“The combined business will be better positioned to help tackle key industry issues, including operational assurance, competency, reliability and asset integrity.”
Wood Group originally launched the takeover bid for PSN in December last year in a $955 million cash deal.
Former PSN chief executive Bob Keiller has been appointed head of Wood Group PSN and as an executive board director of Wood Group.
Port Waratah Coal Services have approved the final stage of expansion for its Kooragang coal terminal.
The $227.4 million project, dubbed ‘project 145’, is scheduled for completion by December next year and is expected to bring the company’s capacity to 145 million tonnes annually, according to The Newcastle Herald.
Set to begin next month, the project includes the construction of a fourth rail dump station, track infrastructure, upgrades to the buck-wheel reclaimers and ship-loading amenities.
This expansion will boost capacity to 133 million tonnes by the end of this year.
This new fourth loader, dubbed T4, could potentially add more than 100 million tonnes to the port’s total capacity .
According to The Herald, the application for this project has been caught in the newly elected New South Wales Government plan to scrap Part 3A of the planning laws.
A spokeswoman for Planning Minister Brad Hazzard said the government was developing “transitional provisions” for dealing with projects submitted under Part 3A before the election.
Mining and resources projects typically come under Part 3A of the planning laws, which allowed the Planning Minister to classify projects as significant sites.