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Date: Thursday 21 Aug 2008

LONDON (ShareCast) - Oil services company John Wood Group has bought Australian safety training business Marine & Offshore Group (M&O) for an undisclosed sum.

A subsidiary of John Wood has acquired Benchmark Global, the Australian-registered parent company owning M&O, a provider of safety and emergency response training services to the international offshore, maritime and mining industries.

M&O, which is active in Australia, New Zealand, Singapore, Kazakhstan and Nigeria and is in the process of setting up operations in Tunisia, Libya and Egypt, had revenues of $9.0m and EBIT of $1.2m for the year ended 30 June 2007.

The group will retain its trading names and will continue to be led by chief executive and managing director Rick Parish.

“The acquisition of M&O will expand our provision of safety training to oil & gas clients around the world”, said Wood Group’s Les Thomas.

“We see their services as complementary to and supportive of our international expansion plans,” he added.

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