Wood Group and Siemens form joint venture to create global integrated rotating equipment service provider
May 7, 2014
Wood Group and Siemens Energy Service have received all the necessary regulatory approvals to close the previously announced joint venture between the Gas Turbine Services (GTS) business of Wood Group and the Siemens Energy Service TurboCare business unit. The new joint venture, called EthosEnergy, will be a leading independent service provider of rotating equipment service for the power, oil & gas and industrial sectors.
EthosEnergy combines two organizations with complementary strengths, customers and geographic exposure, and will benefit from combining technical know-how. With these attributes, EthosEnergy aims to deliver a new standard of service excellence with a broader portfolio, increased global reach, greater choice, flexibility and responsiveness, and well-engineered value-added solutions.
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