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Clough acquires US-based gulf coast downstream and chemical EPC business
19 February 2019
Houston, 19 February 2019 - Clough today announced it has entered into an agreement to acquire Saulsbury’s Gulf Coast downstream and chemical business unit and its Engineering, Procurement and Construction (“EPC”) portfolio based in Houston. The purchase consideration was US$5,2 million.
Henry Laas, Murray & Roberts Group Chief Executive comments: “The acquisition of a USA-based EPC contractor in the oil and gas sector gives the Oil & Gas platform the ability to deliver projects to a rapidly growing market in the USA. This is a small but strong project controls organisation, staffed with competent people with a full EPC capability for projects up to US$300 million. Clough will market its new EPC capability to its major global clients operating in America, such as Exxon, Chevron, ConocoPhillips and Shell.”
Since 2014, Clough has been supporting US and Canadian clients through its CH-IV International and Clough Enercore companies. The acquisition of Saulsbury’s Gulf Coast engineering, procurement and construction assets aligns with Clough’s strategy to grow its capability and service offering to address the North American downstream, petrochemical/chemical, midstream and Liquid Natural Gas (“LNG”) markets.
North American clients will now be able to leverage Clough’s global experience in providing pioneering project delivery solutions for LNG, oil and gas gathering and processing facilities, refineries, chemical/petrochemical plants, near-shore marine and offshore assets.
Clough CEO and Managing Director, Peter Bennett said: “As we continue to grow our engineering and construction services internationally, we expect this acquisition to be a key part of Clough’s North American growth ambitions. The North America market has demonstrated continued growth in a stable environment with vast opportunities in oil and gas.”
About Murray & Roberts
Murray & Roberts is a leading engineering and construction services group of companies.
It has delivered infrastructure projects throughout South and Southern Africa for more than 119 years, and is today recognised as a multinational engineering and construction group. The Group achieves this by focusing its expertise and capacity on delivering sustainable project engineering, procurement, construction, commissioning, operations and maintenance solutions.
The Group delivers its capabilities into three global primary market sectors: oil & gas; metals & minerals and power & water. The Group disposed of its infrastructure businesses in April 2017 and no longer delivers any civil and building construction projects.
Murray & Roberts is headquartered in Johannesburg, South Africa, and is listed on the JSE Limited. It has offices in:
1. Africa:
a. South Africa, Mozambique, Zambia and Ghana
2. Australasia:
a. Australia and South Korea
3. Europe:
a. Scotland
4. North America:
a. USA and Canada
Murray & Roberts is a group of world-class companies and brands aligned to the same purpose and vision, and guided by the same set of values.
For more information about Murray & Roberts, please visit www.murrob.com
About Clough
Clough is a pioneering engineering and construction company established in 1919 in Perth, Western Australia. Clough delivers challenging projects for the infrastructure, metals & minerals, and oil & gas industries underpinned by a dedication to problem solving and getting the job done safely and efficiently. Today, Clough manages a global workforce of almost 2000 people from operating centers across Australia, Papua New Guinea, Asia, Africa, UK, and North America that strive for the best in everything, setting new safety and performance benchmarks every single day. Clough is a wholly owned subsidiary of Murray & Roberts.
For more information about Clough please visit http://www.clough.com.au/
Further information:
Murray & Roberts
Ed Jardim
Group Media and Investor Executive
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