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Worley takes full control of TWPS

Worley has increased its stake in operations and maintenance business TW Power Services (TWPS) to 100 per cent.

TWPS provides services to power infrastructure across Australia, New Zealand and Southeast Asia and operates, monitors and maintains gas pipeline assets.

Worley has acquired Ferrovial’s 50 per cent shareholding in the company for a cash consideration of $20 million, taking its ownership of the company to 100 per cent.

Worley said the move will enable it to support customers across the full asset cycle and leverage TWPS’ leadership in the development and application of digital technology in operation and maintenance services across its business.

“We’re excited by the opportunities that will result from bringing TWPS into Worley,” said Worley CEO Chris Ashton.

“As well as enhancing our global operations and maintenance capability, this acquisition accelerates our role supporting our customers through their energy transition, helping prepare them for a low-carbon future and the digitalisation of the industry.”

For more information visit the Worley website.

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