News: WOR Worley Announces Sale Of North America Turnaround And Maintenance Business

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    Feb 22 (Reuters) - Worley Ltd (WOR) :

    • ENTERED INTO AN AGREEMENT WITH CAM INDUSTRIAL SOLUTIONS
    • AGREEMENT TO SELL ITS TURNAROUND AND MAINTENANCE BUSINESS IN NORTH AMERICA
    • AGREEMENT FOR US$125 MILLION
    • WORLEY'S CONSTRUCTION AND FABRICATION BUSINESS IN NORTH AMERICA IS NOT INCLUDED IN SALE AGREEMENT WITH CAM INDUSTRIAL SOLUTIONS
    • SALE EXPECTED TO RESULT IN STATUTORY BEFORE TAX LOSS OF APPROXIMATELY AUD$231 MILLION
    • ONCE SALE COMPLETES, REDUCTION IN UNDERLYING NPATA, NET OF INTEREST SAVING FROM PAYING OFF DEBT, NOT EXPECTED TO BE MATERIAL
    • AGREEMENT WILL NOT AFFECT WORLEY'S ABILITY TO DELIVER ON ITS PREVIOUSLY STATED OUTLOOK FOR FY23
 
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