Wood Group and Siemens Energy Service Form EthosEnergy

Wood Group and Siemens Energy Service have received the necessary regulatory approvals to close the previously announced joint venture between the Gas Turbine Services (GTS) business of Wood Group and the Siemens Energy Service TurboCare business unit. The new joint venture, EthosEnergy, will provide rotating equipment service for the power, oil and gas and industrial sectors.

“This joint venture will allow us to offer a wide range of capabilities in the areas of asset operations, maintenance, risk management and life cycle optimization, as well as aftermarket design, repair and manufacturing,” said Mark Dobler, EthosEnergy CEO.  “The combination of these two complementary and capable businesses creates scale across our customers’ portfolio.”

The EthosEnergy leadership team is comprised of executives from both shareholders. Mark Dobler, previously CEO of Wood Group GTS, has been appointed CEO of EthosEnergy.  Neil Sigmund, previously CEO of TurboCare, has been appointed deputy CEO, and Chris Watson, previously CFO of Wood Group GTS, will serve as CFO of EthosEnergy. The company will have its primary offices in Houston, Texas, USA; Aberdeen, Scotland; and Orlando, Florida, USA.

For more information, visit: www.ethosenergygroup.com