Wood Group Buying into Pyeroy?

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Flannel

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Wood Group are bying a stake in Pyeroy, apparently.
 
Scaffold1 said:
Do you work for pyeroy??????
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No mate. The comment is just an on-going joke on the forum and not really associated with Pyeroy.
From past comments regarding the said firm, I wouldnt want to go a hundred miles near Pyeroy either.
Some of the lads on here HAVE worked for them and advised strongly to give them a wide berth.
Hope this clears matters up.
OH, and welcome to the forum!;)
 
Scaf 1, your comments on the official announcement, please?
 
Wood Group buys Forth Bridge contractor



By PETER RANSCOMBE
Published on 03/07/2013 07:43



Wood Group, the Aberdeen-based energy services giant, has taken over one of the companies that worked on the Forth Bridge refurbishment.



Gateshead-based Pyeroy Group – which provides specialist coatings, access and fabric maintenance services to the oil and gas, marine and rail industries – turned a £4.6 million profit last year on revenues of £88.9m.

The company, which was founded in 1973 and employs about 1,800 staff at eight sites in the UK and Ireland, will continue to be led by managing director Hugh Pelham.

Robin Watson, chief executive at Wood Group’s Production Services Network division, said: “The acquisition of Pyeroy marks a strategic move into specialist coatings, access services and fabric maintenance which broadens our service offering to oil and gas customers.

“These services are particularly relevant for extending the life of existing infrastructure, and for decommissioning projects.

“As an example Pyeroy’s expertise on the Forth Rail Bridge refurbishment can be transferred into the oil and gas sector.”
 
This can only be good news for the offshore scaffs as the Big 3 have been feeding off Woodgroup for years in the past Rigblast Cape & Salamis have had a good run with this firm .
Any one that works on platforms with Woodgroup as the main contractor only has to compare their wage with them IE Riggers and you will be surprised how much more Riggers are on than scaffolders
May be in some cases the same.
But on any Talisman platform the Scaffs will be on less then this so called trade now when Woodgroup start tendering for the full contract across the board they will not have to subcontract any off its work to the Big 3 how have been scapegoating their profits form scaffolders for years .
This is a wake up call for the Big 3 .
One off capes top man for over 30 years is on the books for Pyeroy and this will Be Woodgroups trump card when tendering for the next big contract coming up in the next few months so watch this space and see how it pans out it can only be good for the Scaffs who have fell out with the big 3 and been left in the lurch for specking up about terms and condictions
upwards and onwards
 
Old scaff said:
This can only be good news for the offshore scaffs as the Big 3 have been feeding off Woodgroup for years in the past Rigblast Cape & Salamis have had a good run with this firm .
Any one that works on platforms with Woodgroup as the main contractor only has to compare their wage with them IE Riggers and you will be surprised how much more Riggers are on than scaffolders
May be in some cases the same.
But on any Talisman platform the Scaffs will be on less then this so called trade now when Woodgroup start tendering for the full contract across the board they will not have to subcontract any off its work to the Big 3 how have been scapegoating their profits form scaffolders for years .
This is a wake up call for the Big 3 .
One off capes top man for over 30 years is on the books for Pyeroy and this will Be Woodgroups trump card when tendering for the next big contract coming up in the next few months so watch this space and see how it pans out it can only be good for the Scaffs who have fell out with the big 3 and been left in the lurch for specking up about terms and condictions
upwards and onwards
Click to expand...

"Nurse, nurse, he's out of bed..........!"
 
Any one who thinks pyeroy going offshore is going to turn it into shangri-la is seriously fookin deluded. Any firm that pays £10 an hour in the centre of london ain't worth a carrott in my book. They will do their upmost to get blokes out there as cheap as possible, and the dafties up here will do it as well!
 
No matter who`s doing the scaffolding offshore it`s all about supply and demand and at the moment supply outsrips demand , until that changes the money will stagnate ,and wood group like their polskis .
 
Still it could be a bit of a gamechanger, in the offshore world.

How much did Pyeroy go for $$ and how long is the earn out over?

Bet theres thoughts of exit strategies and starting again !
 
They sold for between 40-50 million quid, earn out over 3 years.
 
Pyeroy will be taken over the Exxon Shell Mossmoran refinery in the new year as Cape employees have been put on 90 days notice.
Some of the long term will tupe over as per union T&C and site agreement
the current contract that was in place with Woodgroup and Cape joint ventuer is coming to the end of the fixed agreement
And this will be the start of things to come from Woogroup/Psn And Pyeroy
It gives the outsider a better chance of a start as these long term onshore and offshore contracts are hard to break through if you do not know someone on the inside
they are Offshore on the Painting front north sea and will be getting bigger things in place for 2014 it gives the working man more choice in this area of work
 
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