Australian engineer-constructor WorleyParsons, North Sydney, announced Feb. 8 that it has acquired Calgary-based engineer and project services firm Colt Cos., for $880 million. With 4,600 employees, Colt is one of Canada’s largest multidisciplinary design firms. It works in the upstream and downstream hydrocarbons markets, particularly in the Canadian oil sands sector. “This is a unique opportunity for WorleyParsons to secure a leading position in one of the world’s largest and fastest growing hydrocarbons markets,” says WorleyParsons CEO John Grill. The acquisition, which is subject to regulatory approvals, should be completed in March.
Worley Buys Canadian Colt Cos.
February 19, 2007