AMEC Acquires Phoenix Imperative(R) Inc. to Enhance Biotechnology Capabilities

16-Mar-2004

Newark, Del.A MEC, the international engineering services company, announced the acquisition of Phoenix Imperative(R) Inc., a leading consulting and engineering company in the biotech market. This move enhances AMEC's global biotech and pharmaceutical capabilities.

Based in Newark, Delaware, Phoenix Imperative(R) Inc. specializes in process and facilities engineering, validation, compliance and commissioning services for the biotechnology and pharmaceutical industries. Phoenix Imperative(R) Inc., employs 75 full-time staff in four offices along the Eastern United States seaboard. The addition of Phoenix Imperative(R) Inc. to AMEC will form a leading EPC, validation and compliance business serving the biotech and pharmaceutical industries.

In the transaction, AMEC acquires all the Phoenix Imperative(R) Inc. shares. Richard (Rick) F. Geoghegan Jr., CEO of Phoenix Imperative(R), Inc., will become Senior Vice President of AMEC's PharmaBio business unit, under the Industrial & PharmaChem division.

Angus J. Maciver, President of AMEC's Industrial and PharmaChem division, said, "This acquisition broadens AMEC's services in the biotech and pharmaceutical sector. We can provide our clients with new specialized services in the biotech area that complement our existing pharmaceutical services. We are especially pleased to benefit from Phoenix Imperative's biotechnology, compliance and validation capabilities."

The transaction also allows AMEC to build on its strong client relationships in the Eastern U.S. seaboard biotech and pharmaceutical industries, where Phoenix Imperative(R) Inc. has an established and successful business track record.

Lasse Petterson, Chief Operating Officer of AMEC Americas said, "This acquisition positions AMEC towards growth in the biotech market, one which is forecasted to grow rapidly over the next few years."

AMEC, the international engineering services company, provides design, project delivery and maintenance support to clients in the oil and gas, transport, industrial and infrastructure sectors. AMEC generates annual revenues in excess of US $8 billion and works at the local, national and international levels, employing some 45,000 people throughout the UK, continental Europe, the Americas and some 40 countries worldwide. www.amec.com

Source: AMEC

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