WorleyParsons makes $100m acquisition

Engineering firm WorleyParsons has bought South Africa-based company TWP Holdings for $100 million and extended a contract with BP in Iraq.

WorleyParsons has struck a deal with publicly-listed South African company Basil Read Holdings to buy its subsidiary TWP, a provider of engineering design, procurement, construction management and asset services, largely within the underground mining sector.

TWP has about 1,100 employees, mostly in South Africa but also in greater Africa, Latin America and Australia.


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