Panama-based Willbros Group buys Midwest Pipelines as Amec continues to sell non-core businesses
Amec has sold its Canadian Midwest Pipelines business to Willbros Group. The oil, gas and electricity contractor will pay Amec about £9bn cash and £2m working capital for the business
Midwest Pipelines, based in Edmonton, Alberta, had a turnover of £55 million (Cdn$115 million) for the year ended 31 December 2006.
The move follows the sale of Amec's construction and regeneration businesses to Morgan Sindall for £26m earlier this week.
The disposals continue Amec's strategy of focusing on its energy and process sectors.
The transaction is conditional on the approval under the Canadian Competition Act.