The company has agreed to dispose of its 25% interest in UK roadways group RMS A13 Holdings, as well as its 52% stake in a Chinese manufacturing facility and 41.65% share in two gas power plants in Italy.
The disposals will bring in US$28mln, of which US$9mln has already been received. The rest is expected before the end of June.
Wood’s earnings share from the four joint ventures was forecast to be US$8mln this year, although RMS A13 carried with it “significant capital commitments” and an ongoing interest cost of around US$5mln.
Wood’s latest disposals follow hot on the heels of the US$26mln sale of its Italian wind farm joint venture. That deal was struck back in August and officially completed last month.
“Together, these transactions generate cash proceeds of around US$54mln and make a good contribution to our non-core asset disposal programme which is a key element of our deleveraging plan,” said chief executive David Kemp.
“Our asset disposal programme is ongoing and remains on track to generate over US$200mln of proceeds.”
Wood Group shares dipped 2.7% to 519.8p in early deals on Monday.