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Reclassified Amec reorganises divisions

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CONTRACTING giant Amec is reorganising its operations following last week's announcement that it is to be reclassified as a support services company.

Instead of its client support services, capital projects and investments divisions, there will be an oil and gas division, an engineering and technical services division and a project solutions division.

'We have done this to give more clarity to investors and shareholders, and staff, ' said construction services director Stephen Bowcott. 'There had been complaints that Amec had become too complicated.'

The FTSE Global Classification Committee announced last Friday that it was reclassifying Amec shares.

The change reflects the fact that the company now does most of its work in support services rather than in mainstream contracting.

Amec shares will be ranked alongside Atkins, Capita Symonds, Jarvis, John Laing and Mouchel Parkman.

The new structure will see Amec's design, facilities management and maintenance activities combined within the engineering and technical services division.

Private finance infrastructure work will sit in the project solutions division along with wind farm and general contracting activities.

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