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PRESS DIGEST - Financial Times - July 21

Mon Jul 20, 2009 10:20pm EDT

Stocks

   

AMEC BUYS GRD

Amec (AMEC.L) has bought the Australian engineering group GRD GRD.AX for 106 million Australian dollars. Amec, which at the end of April held 700 million pounds of net cash, said in May that it was looking for acquisition opportunities, and made a conditional offer for GRD in June. The deal will give Amec its first significant positions in east Asia and Africa. Chief executive Samir Brikho said: 'The capabilities and geographic coverage of GRD are highly complimentary with Amec's existing business and the acquisition is a further step towards the delivery of superior outcomes for clients in our chosen geographies and commodities.'

Prepared for Reuters by Durrants



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