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The Guardian - UK
The Guardian - UK
Business
Terry Macalister

Amec looks for Katrina repair work

Amec, the engineering group, said yesterday it expected to be involved in reconstruction work in New Orleans and the Gulf of Mexico coast after hurricane Katrina.

Chief executive Sir Peter Mason said his group had built strong links with US state agencies and had been a major participant in clear-up work at the twin towers site and rebuilding at the Pentagon following 9/11.

"It is unclear at present what level of business there could be, but obviously repairs will have to be made and it may well impact on our business," he said.

Amec may be called on to help with repairs to oil platforms in the Gulf or terminals in Louisiana, the firm said. "We have done a lot of work in the past onshore for BP and offshore for Shell," said Sir Peter.

The company has made an niche out of operating in difficult areas. This year it expects, with partner Fluor, sales of up to $800m (£437m) from work in Iraq.

Sir Peter was speaking as Amec announced flat interim pre-tax profits of £35.3m. Underlying profits rose 7% to £40.9m. The dividend was raised 5% to 4p but concerns about late payment of bills and debt levels made the shares fall 5% to 343.5p.

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