Wood Group and Siemens combine to form EthosEnergy JV

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Aberdeen-based John Wood Group today confirms the establishment of its gas turbine services joint venture with Siemens – to be known as EthosEnergy.

EthosEnergy consists of the Maintenance and Power Solutions businesses of Wood Group GTS – including its 49% stake in Wood Group Pratt & Whitney (but excluding its Rolls Wood Group, TransCanada Turbines and Sulzer Wood joint ventures) – and Siemens’ TurboCare business unit, which provides aftermarket gas turbine, steam turbine and generator design, repair and manufacturing services.

EthosEnergy is owned 51% by Wood Group and 49% by Siemens.

As a result, all Wood Group’s predominantly opex related gas turbine activities are now in joint ventures and will be reported within the Wood Group PSN division.

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