Services Joint Venture
Wood Group, Siemens form EthosEnergy
Wood Group and Siemens have confirmed the establishment of a gas turbine services joint venture (JV) to be known as EthosEnergy.
This joint venture will consist 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.
Ethos Energy is owned 51% by Wood Group and 49% by Siemens.