Kentz Corporation Limited (LSE: KENZ), the holding company of the Kentz engineering and construction group, announces the re-alignment of the services offered through its three global business units.
Following the successful implementation of the six strategic initiatives identified in 2012, including the recent acquisition of Valerus Field Solutions, the Group has re-examined the structure of its global business units.
All of the services offered by Kentz to clients will remain and be further strengthened through the re-alignment of service offerings within the current business units; bringing operational benefits in servicing clients, such as access to wider resource pools with shared skills and building critical mass in core areas.
Engineering and Projects
The EPC business unit is being renamed Engineering and Projects to accurately reflect the high value added professional services that the business unit executes. The business unit will be led by Tush Doshi as Group President, Engineering and Projects Business Unit. It will incorporate:
- Continued offering of EPC and EPCM services
- Valerus’ operations in its entirety
- Global Engineering Services
- Project Management Consultancy services
Construction and Technical Support Services (TSS)
Construction and TSS will remain as separate business units however; the resources, leadership and support will be consolidated to maximise operating efficiency and business winning opportunity and consistent with the demands of our clients. Michael Murphy has been appointed as Group President, Construction and TSS Business Units. These two units will incorporate:
- Construction; Structural, Mechanical, Electrical, Instrumentation and Piping (SMEIP)
- Remote Construction Services
- Completions and Commissioning
- Shutdowns and Turnarounds
- General Support Services
For the purposes of financial reporting in 2014, Kentz will report through the three business units, Engineering and Projects, Construction and TSS. Financial reporting for FY2013 will be consistent with the historical approach of EPC, Construction and TSS.
Eoin Hurley, Chief Operating Officer of the Construction business unit since 2009, is retiring from his full-time role in Kentz after 27 years of service and given his value to Kentz he will remain working on a part time basis for the coming year.
Christian Brown, Chief Executive Officer of Kentz, commented: “Given the successful
growth Kentz has delivered in the past years, the recent acquisition of Valerus, and the growth plans we have for the future, we have reviewed how we offer our services to clients and moved to ensure we provide a clear and simple channel for attaining what are complex and valuable services.
“The Board believes the re-alignment of some of our services provides a clearer structure and allows the Engineering and Projects business unit to achieve a level of scale that will enable its full growth potential and help market positioning with new and existing clients. We have already seen considerable success in securing engineering contract awards since the first phases of implementing our strategic initiatives and focus continues on this as a key area of future growth for Kentz.
“I would like to thank Eoin Hurley for his service to Kentz over the past three decades. Since joining Kentz, Eoin has participated in a wide variety of projects in Europe, the Middle East and predominantly in Sub-Saharan Africa, where he became the Managing Director of the Southern African Region prior to becoming the Chief Operating Officer for the Construction business unit. I am delighted that Eoin has agreed to remain with Kentz for the next year.”