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Wood Group and PSN merger finalised

Wood Group and PSN can confirm that the deal to merge Wood Group’s Production Facilities business with PSN was completed on April 20, 2011. The merger creates the world’s leading brownfield service provider with annual revenues of around US$3 billion and a 23,000 strong workforce operating in more than 35 countries.

Bob Keiller, CEO of PSN and now CEO of Wood Group PSN has been appointed as an executive board director of Wood Group.  He said:  “The completion of this deal is a momentous occasion for both companies. Our aim is for Wood Group PSN to be the best brownfield services company to work for and the best company to work with. We have excellent relationships across a broad customer base and we have the capacity to invest and develop our people and our processes so that we can offer an unrivalled service.”

Wood Group PSN will be headquartered in Aberdeen, UK. There will be three separate operating regions: UK, Americas and International, each led by a senior manager responsible for safety, financial performance and growth.

Commenting on the successful completion of the deal, Allister Langlands, Chief Executive of Wood Group, said: "Wood Group PSN will have a larger footprint, deeper resources and capabilities and, by selecting best practices, be able to deliver additional added value to customers. The combined business will be better positioned to help tackle key industry issues, including operational assurance, competency, reliability and asset integrity."

Wood Group PSN is a global provider of pre-operations, hook up & commissioning, operations & maintenance, engineering, construction, project management, training and decommissioning services to the energy industry. Employing over 23,000 people in more than 35 countries, Wood Group PSN offers high integrity, brownfield services that support customers to optimise performance, maintain production, reduce operating costs and provide integrity of assurance.

Wood Group PSN Leadership Team

The new leadership team for Wood Group PSN is as follows:

• Bob Keiller - CEO
• Les Thomas – Deputy CEO  including responsibility for HSE (health, safety & environmental)
• Duncan Skinner – CFO
• Robin Watson – responsible for UK
• Jerome Lynch – responsible for International operations (incl Australia, Asia, Europe, Russia, Africa, Middle East, Caspian)
• Derek Blackwood – responsible for operations in Americas (incl North America, Latin America, Canada)
• Alan Curran – responsible for  consultancy services
• John Kearney – responsible for technical functions
• Sue MacDonald –responsible for  Human Resources (HR)
• Ali Green –responsible for business development

For further information contact:

Kerry Sedge, PR Manager, Wood Group PSN
Tel: +44 (0) 1224 777269, email: Kerry.sedge@psnworld.com / kerry.sedge@woodgroup.com

Carolyn Smith, Director, Corporate Communications
– Eastern Hemisphere, Wood Group
Tel: +44 (0) 1224 851099, email: carolyn.smith@woodgroup.com

Bobbie Ireland, Corporate Communications
– Americas, Wood Group
Tel: +1 (281) 828 3505, email: bobbie.ireland@woodgroup.com

www.woodgroup.com

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