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WorleyParsons completes takeover of Jacobs ECR division

29/04/2019
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WorleyParsons has completed its AUS$4.55 billion acquisition of Jacobs Engineering’s energy, chemicals and resources (ECR) division, creating a merged business known as Worley with over 57,000 staff across 51 countries.
WorleyParsons' acquisition of Jacob Engineering's ECR division will create a new company known simply as 'Worley'.
(Image via Worley).

The operating structure of new the company, which was first announced in February, consists of four business units: Advisian; Energy and Chemical Services; Mining, Minerals & Metals Services; and Major Projects and Integrated Solutions. 

In a statement, Worley expects the deal to achieve cost synergies of approximately AUS$130m to be delivered at a cost of AUS$160 million within two years. Further benefits will be achieved from optimisation and revenue synergies.

Commenting on the deal WorleyParsons’ CEO Andrew Wood said:

“This merger is about more than capacity and capability. It’s about opportunity. The opportunity to become the partner of choice for our customers, the employer of choice for our people and to deliver enhanced returns for our shareholders”.

WorleyParsons has adopted ‘Worley’ as its new brand. The company name will be changed to Worley Limited, subject to the approval of members at the AGM in October 2019.

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Recent Comments
Congratulations Andrew to you and your team for this achievement . This strengthens Worley Parsons position as unique global player and as partner of choice . Wish you all the best Regards Jayant Pimple
Jayant Pimple, 01 May 2019
Here is the flip-side comments, from an MS-Engineer and MBA: Cost synergies?? mostly from LAY-OFFS due overlaps. Opportunity?? Only for a few CEO's & C-suite guys to get big BONUSES. As soon as economy goes South, they will do *Right-Sizing* and spin it off, but still get big BONUSES, for cleaning-off their mistakes. How do I know this? I did work for Parsons, then was laid-off due Worley merger. I also worked for Brown&Root, then was laid-off due to Halliburton merger. (But Dick Cheney got $millions for that) I worked for BP for (5) years was laid-off due to Petro-Canada merger
ANDRE GURSES, 01 May 2019
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WorleyParsons completes takeover of Jacobs ECR division - Time to read 2 min
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