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Atkins purchases Pöyry's oil and gas business

Engineering consultancy Atkins has acquired Pöyry’s 130 people-strong oil and gas business for €17.25 million (£15.38m).

Atkins said today that purchasing the engineering design and operational support service meant it could provide a complete, multi-discipline design service for alloffshore developments.

Atkins chief executive Keith Clarke – who is due to retire from the role at the end of next month - said: “This acquisition represents a step up in Atkins’ ability to deliver process-led multi-disciplinary projects, adding to our traditional oil and gas consultancy and assurance services, on a worldwide scale.”

Integrating the businesses in Aberdeen, Scotland; Stavanger, Norway; and Perth, Australia is in line with the Atkins strategy of growing skills in its energy business, it said.

The company added that it provided increased access to the significant gas developments and liquefied natural gas market in Western Australia and Europe.It comes after the purchase of the Technical Services Scotland group from RWE npower in March.

Atkins, which has 17,500 employees worldwide and a £1.4 billion turnover, said it has also assessed and reached agreement on its pension plan.

Its valuation shows a funding deficit on an actuarial basis of £293m as at 31 March 2010. Removing the link between employees’ accrued pension and future increases in salary would reduce the funding deficit by £28m, while a level of company contributions has been agreed to eliminate the resulting funding deficit of £265m over a period of 10 years from 1 April 2010.

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