Kentz has €11.4bn of work in pipeline

Kentz — the Irish-founded engineering services group — closed 2013 with a pipeline of outstanding work projects, worth $15.6bn (€11.4bn); up 18% on the previous year.

In its pre-close trading statement — ahead of the publication of its annual results in late March — Kentz said yesterday its standalone backlog of work was valued at $3.1bn, at year’s end. When the addition of US-based exploration facility solutions provider, Valerus FS — which Kentz bought at the turn of this year — is included, the group’s overall backlog amounts to $3.5bn.

The recently announced acquisition of Valerus will increase Kentz’s exposure to higher value/margin contracts, improve its footprint in the US and give it an increased presence in Latin and South America.