Uhde buys Clough stake in Shedden Uhde
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On 31st December 2007, Uhde GmbH and Clough Limited reached agreement for Uhde to acquire Clough’s 50% shareholding in Shedden Uhde Pty Ltd, which it had bought from Uhde in 2002.
Upon returning to 100% ownership by Uhde, the structure of Shedden Uhde and the management of the operating companies Shedden Uhde (Australia) Pty Ltd and Shedden Uhde (Thailand) Limited will remain unchanged and Shedden Uhde will continue to serve its clients with the provision of high-end Technology Services and EPCM Project Delivery services.
As a wholly-owned subsidiary of Uhde, Shedden Uhde will continue to represent and support the interests of the Uhde Group capabilities throughout Australia and South East Asia and will also play an important role in the expansion of Uhde’s global contracting business, working with both Uhde and its affiliates throughout the world.
Clough’s decision to sell followed a re-focussing of their business to full EPC services in the upstream oil & gas sector, whereas Shedden Uhde’s activities also include the downstream oil & gas, petrochemical and chemical sectors. However, Shedden Uhde and Clough will continue to cooperate on opportunities which add value to both companies under an Engineering Services Agreement entered into as part of the sale.
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