Technip chairman and CEO Thierry Pilenko said the acquisition of these world-class downstream technologies and high-quality engineering resources fits perfectly with Technip’s strategy to differentiate itself through technology.
Technip becomes a major technology provider to downstream markets, adding value to its Onshore/Offshore segment," Pilenko added.
"In addition, we gain access to promising growth areas, including US petrochemical investments driven by low-price shale gas."
"Furthermore, we are delighted to welcome 1,200 talented people to Technip, to support our growth and our clients’ needs.
The acquisition will complement Technip’s existing technology and alliances in ethylene, hydrogen, fertilizers, polyolefins, and LNG.
Technip is expecting to double its revenues to €400m from €220m after the acquisition by generating income from technology licensing, process design engineering, early-stage and front-end engineering, PMC and the supply of equipment.
The acquisition is expected to be completed in the second half of 2012.
