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Engineering and consulting company Wood has completed the sale of its joint venture interest in Sulzer Wood Ltd to existing partner Sulzer for a consideration of US $17.5m (£12.7m).
Sulzer is a fluid engineering firm that specialises in pumping, agitation, mixing, separation and application technologies for fluids of all types.
Wood, which has had an interest in the company for over 20 years, intends to use funds from the sale to reduce debt and accelerate progress towards its target leverage.