Further to Amec Foster Wheeler’s announcement on 30 June 2017, Wood has today entered into an agreement to sell its North American nuclear operations to Kinectrics Inc. Cash consideration for the transaction is approximately C$10m 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 US together with a small operation in Romania. The transaction in respect of Canadian and US operations is expected to close in the fourth quarter of 2017 subject to competition clearance in Canada. The Romanian disposal is expected to close early in 2018, subject to regulatory approval in Romania.