Amec invests in Chinese engineering firm
London-listed engineering giant Amec - new owner of UK environmental consultancy Entec - has purchased 35% of a Shanghai-based chemical engineering company, the Shanghai Zone Petrochemical Engineering Company Ltd (Szpe). The purchase represents a joint venture between Amec and Szpe designed to allow Amec “for the first time to undertake detailed engineering in China”. The joint venture currently employs 120 staff. Commenting, Amec's president of growth regions operations, Tony Cruddas, said: “This new venture takes us an important step forward in our long association with China. It adds a new service to our existing strong positions in project management and basic engineering”. Amec has an option to acquire a further 15% of Spze in 2012.
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