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Wood completes sale of Terra Nova Technologies

growing trend: Smaller businesses are increasingly acquiring assets that are no longer considered “core” by their incumbent owners
growing trend: Smaller businesses are increasingly acquiring assets that are no longer considered “core” by their incumbent owners

Aberdeen energy services firm Wood has completed a £29.1m sale of its Terra Nova Technologies (TNT) subsidiary.

TNT – a conveying and material handling systems solutions business – has been acquired by Cementation Americas, owned by Murray and Roberts Holdings.

It comes as part of a strategic review from Wood to divest parts of its portfolio which are expected to bring between £153.6m and £230m.

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Craigmill, Pitcaple, Inverurie, Aberdeenshire, United Kingdom, AB51 5HP
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