London, 20 June 2012: Kentz Corporation Limited ("Kentz" the "Company"), the holding company of the Kentz engineering and construction group ("the Group"), announces that the Board has appointed PricewaterhouseCoopers Ireland ("PwC") as auditors of the Company with immediate effect replacing BDO LLP who acted as auditors to the Company for the past 17 years.
On the recommendation of the Audit Committee, the Board decided to authorize the Committee to conduct a tender process for audit services. The Audit Committee considered a number of possible candidate firms and following a rigorous tender process, recommended to the Board that PwC be appointed as auditors to the Company and its subsidiaries. The Board is confident that PwC has the relevant engineering and construction industry experience and will have the strength, global coverage and depth of experience to provide a top class audit service for Kentz and its shareholders.
BDO LLP has confirmed that there are no circumstances in connection with their resignation as auditor that should be drawn to the attention of the Company's shareholders or creditors.
For further information please refer to the Kentz website www.kentz.com or contact:
Kentz is a global engineering specialist solutions provider, which serves a blue chip client base primarily in the oil and gas, petrochemical and mining and metals sectors. It is listed on the London Stock Exchange (symbol: KENZ). In the year ending December 2011, the company generated revenues of $1.37 billion and profit before tax of $79.4 million. Kentz has over 14,000 employees in 29 countries. Its three main business lines are; specialist engineering, procurement and construction (EPC) services, construction, and technical support services. It has a proven track record of delivering mechanical, electrical, controls and instrumentation engineering, construction and management services in some of the most remote locations on earth.
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