Wood Group (John) (WG.)

Sector:

Fossil Fuels Production & Distribution

Index:

FTSE 250

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397.80p
   
  • Change Today:
    -2.80p
  • 52 Week High: 796.40
  • 52 Week Low: 389.90
  • Currency: UK Pounds
  • Shares Issued: 681.54m
  • Volume: 2,103,133
  • Market Cap: £2,711.16m
  • RiskGrade: 216

Wood Group awarded contract for new Evonik production facility

By Josh White

Date: Thursday 25 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Wood Group has been awarded a new contract by Evonik to deliver engineering, procurement and construction management (EPCM) services for the group's new polyamide 12 (PA12) production complex, it announced on Thursday, to be built at the Marl Chemical Park in Germany.
The FTSE 100 company described PA12 as a high-performance polymer for special applications, which is used across a number end markets including the automotive industry, oil and gas pipelines, and 3D printing.

It said the new facility would supplement the existing PA12 production plant, without disrupting existing production.

The contract added to Wood's existing relationship with Evonik, the firm's board said, following delivery of basic engineering, EPCM and commissioning support services to the specialty chemical company's new methionine plant on Singapore's Jurong Island.

Successful mechanical completion for the project was achieved safely in December, meeting all milestones of the EPC contract.

"This award marks significant progress in our strategy to develop our chemicals business and expertise across Europe," said Dave Stewart, chief executive officer of Wood's Asset Solutions business in Europe, Africa, Asia and Australia.

"Wood is committed to the safe, reliable and successful delivery of this major project supporting Evonik to achieve future PA12 production targets.

"We look forward to building our partnership with this key customer in the downstream sector, leveraging our knowledge and understanding of Evonik's operations to work in close collaboration."

Dr Ralf Düssel, head of the high-performance polymers business at Evonik, added that the project was Evonik's largest investment in Germany thus far, valued at around €400m, and was expected to increase the group's overall capacity for PA12 by more than 50%.

"In Wood, we have contracted a well-known, globally active technical services provider, for the successful implementation of such a challenging project."

The project would be executed by Wood's capital projects team based in Milan, and was expected to be completed in the first quarter of 2021.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

WG. Market Data

Currency UK Pounds
Share Price 397.80p
Change Today -2.80p
% Change -0.70 %
52 Week High 796.40
52 Week Low 389.90
Volume 2,103,133
Shares Issued 681.54m
Market Cap £2,711.16m
RiskGrade 216

WG. Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
82.24% above the market average82.24% above the market average82.24% above the market average82.24% above the market average82.24% above the market average
9.09% below the sector average9.09% below the sector average9.09% below the sector average9.09% below the sector average9.09% below the sector average
Price Trend
74.36% below the market average74.36% below the market average74.36% below the market average74.36% below the market average74.36% below the market average
69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average
Income
88.73% above the market average88.73% above the market average88.73% above the market average88.73% above the market average88.73% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Growth
0.55% above the market average0.55% above the market average0.55% above the market average0.55% above the market average0.55% above the market average
45.45% above the sector average45.45% above the sector average45.45% above the sector average45.45% above the sector average45.45% above the sector average

What The Brokers Say

Strong Buy 5
Buy 1
Neutral 5
Sell 0
Strong Sell 3
Total 14
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

WG. Dividends

  Latest Previous
  Final Interim
Ex-Div 25-Apr-19 30-Aug-18
Paid 16-May-19 27-Sep-18
Amount 23.70¢ 11.30¢

Trades for 14-Jun-2019

Time Volume / Share Price
16:35 687,563 @ 397.80p
16:34 23,300 @ 401.61p
16:34 23,300 @ 401.61p
16:34 23,300 @ 399.42p
16:34 23,300 @ 399.42p

WG. Key Personnel

Chair Ian D Marchant
CEO Robin Watson
CFO David Kemp

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