Engineering services giant WorleyParsons has announced its $100 million offer to acquire TWP Holdings has been accepted by its parent company, Basi Read Holdings.

 

TWP is a major provider of engineering design, procurement, construction and management in the African, Latin American and Australian mining sectors.

 

WorleyParsons has announced it anticipates the deal to be completed by March next year, but still remains subject to a vote by Basil Read shareholders and South African regulatory approvals.

 

“The acquisition of the TWP business will equip WorleyParsons to provide its clients with access to world class specialised underground mine planning and engineering capabilities, mineral processing and project management solutions, while leveraging TWP’s skills and expertise globally,’ WorleyParsons’ CEO Andrew Wood said.

 

TWP’s CEO, Digby Glover, said the move would allow the company to further capitalise on global markets.

 

“TWP joining WorleyParsons elevates the TWP offering to enable us to deliver a broader range of projects. The acquisition will certainly strengthen the group’s position to deliver projects in the mining, metals and chemicals market,” Mr Glover said.