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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
Form 6-K
______________________
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For June 26, 2017
Commission File Number 001-36723
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Amec Foster Wheeler plc
(formerly AMEC plc)
(Name
of Registrant)
_______________________
Amec Foster Wheeler plc
Old Change House
128 Queen Victoria Street
London EC4V 4BJ
United Kingdom
(Address
of Principal Executive Offices)
_______________________
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or
Form 40-F:
Form 20-F
☒ Form 40-F ☐
Indicate
by check mark if the registrant is submitting the Form 6-K on
paper as permitted by Regulation S-T Rule 101(b)(1):
☐
Indicate
by check mark if the registrant is submitting the Form 6-K on
paper as permitted by Regulation S-T Rule 101(b)(7):
☐
Indicate
by check mark whether by furnishing the information contained in
this Form, the registrant is also thereby furnishing the
information to the Commission pursuant to
Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐ No ☒
If
“Yes” is marked, indicate below the file number
assigned to the registrant in connection with Rule 12g3-2(b):
82-
Amec Foster Wheeler progresses with transformation plan as it
completes $170m sale of CFB boiler business
As part
of the company-wide transformation programme, which includes the
sale of non-core assets, Amec Foster Wheeler announces that it has
completed the sale of its circulating fluidised bed (CFB) boiler
business to Sumitomo Heavy Industries, Ltd (SHI), for a
consideration of USD $170million, the net proceeds of which will be
used to reduce net debt.
The CFB
boiler business is the largest part of GPG. The remaining GPG steam
generator businesses include the heat recovery steam generator and
industrial boilers businesses and these are also expected to be
sold during 2017.
The
North American aftermarket services business, originally part of
GPG, is being retained and since the beginning of 2017, has been
operating as part of Amec Foster Wheeler's Power & Process
business.
Amec
Foster Wheeler's transformation programme was launched by its Chief
Executive Officer, Jon Lewis, following a company-wide review. The
core components of the transformation programme include
implementing a new leaner operating model designed to be closer to
projects and customers, delivering cost efficiencies across the
business, a focus on improving compliance and consistency in how
the business operates, refreshing the company strategy and
disposing of non-core assets.
In
addition to the sale of the CFB boiler business, Amec Foster
Wheeler has already completed the sale of a number of smaller
assets.
Jon
Lewis, Chief Executive Officer of Amec Foster Wheeler
said:
"We
have made significant progress with the company wide transformation
programme that we launched last year. The completion of the sale of
the CFB boiler business is a milestone in this programme. We are
continuing to implement the programme enabling us to better serve
our customers and strengthen the company's balance
sheet."
Amec Foster Wheeler plc
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+ 44
(0)20 7429 7500
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Media:
Jonathan Refoy
Investors:
Rupert Green
Notes
to Editors:
Proceeds
will be subject to typical working capital and completion
adjustments.
Amec Foster Wheeler (www.amecfw.com)
designs, delivers and maintains strategic and complex assets for
its customers across the global energy and related
sectors.
Employing
around 35,000 people in more than 55 countries and with 2016
revenues of £5.4 billion, the company operates across the oil
and gas industry from production through to refining, processing
and distribution of derivative products and in the mining, power
and process, pharmaceutical, environment and infrastructure
markets.
Amec
Foster Wheeler shares are publicly traded on the London Stock
Exchange and its American Depositary Shares are traded on the New
York Stock Exchange. Both trade under the ticker AMFW.
Forward-Looking Statements
This
announcement contains statements which constitute "forward-looking
statements". Forward-looking statements include any statements
related to the timing, results and success of contracts, and are
generally identified by words such as "believe," "expect,"
"anticipate," "intend," "estimate," "will," "may," "continue,"
"should" and other similar expressions. Forward-looking statements
are subject to various risks and uncertainties, many of which are
difficult to predict and generally beyond the control of Amec
Foster Wheeler, that could cause actual results and developments to
differ materially from those expressed in, or implied or projected
by, the forward-looking statements. Amec Foster Wheeler does not
undertake to update any of the forward-looking statements after
this date to conform such statements to actual results, to reflect
the occurrence of anticipated results or otherwise.
Publication on Website
A copy
of this announcement will be made available on Amec Foster
Wheeler's website at www.amecfw.com
by no later than 12 noon (London time) on the business day
following publication of this announcement. For the avoidance of
doubt, the contents of this website are not incorporated into and
do not form part of this announcement.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
Date:
26 June 2017
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Amec
Foster Wheeler plc (Registrant)
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By:
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/s/
Alison Yapp
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Name:
Alison Yapp
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Title:
General Counsel & Company Secretary
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