Worleyparsons Limited
(ASX:WOR) has acquired South African engineering designer TWP Holdings for $100 million.
The transaction is expected to be completed by March next year, subject to South African regulatory approvals.
Upon receiving transaction approval, Worley Parsons intends on integrating TWP into its existing South African business.
CEO Andrew Wood says the acquisition will equip Worley Parsons to provide clients with access to world class specialised mine planning and engineering capabilities.
Worley Parsons has also been awarded a $US90 million contract extension by BP Iraq and its partners to continue works on the super-giant Rumaila oilfield in Southern Iraq.
Worley Parsons posted a net profit of $376.5 million for the 2012 financial year.
