Send us your pictures, video, news and views by texting NORTHERN ECHO to 80360 or email us
John Wood, which owns Gateshead-based Pyeroy, agrees deal with Siemens
THE owner of a specialist North-East industrial coatings firm has agreed a deal to supply equipment to the offshore energy industry.
The John Wood Group will work with Siemens on a business to support the power generation, oil and gas and industrial sectors.
In the deal, John Wood, which has three business divisions, and provides engineering and construction management for oil, gas and renewable energy projects, will own 51 per cent of the venture.
The agreement will combine Wood Group's GTS maintenance and power solutions division, and Siemens’ turbo care unit, which provides after market gas turbine, steam turbine and generator design, repair and manufacturing services.
It will employ about 4,500 workers across the world.
Bob Keiller, Wood Group chief executive, said: “This announcement is an important step in the ongoing development of the group.
“The venture with Siemens will create a differentiated service for customers across the world.”
Earlier this year, John Wood Group took over Gateshead-based industrial coating firm Pyeroy, which was founded 40 years ago to maintain ships in the region's famous shipyards.
Bosses say they will use Pyeroy's expertise of applying protective coatings to new Royal Navy aircraft carriers and the Forth Rail Bridge to expand its global operations.
Pyeroy, formed over a DIY shop in 1973, employs about 400 North-East workers in Gateshead and Billingham, near Stockton.
Comments are closed on this article.