Denmark-based NKT designs and manufactures flexible pipe products and systems for the offshore oil and gas industry.

The company manufactures products associated with floating production, storage and offloading vessels and other offshore vessels, and as well as subsea production systems including flow-lines and flexible risers.

NKT recently entered into a supply framework agreement with Petrobras and has planned to build a new facility in Brazil.

The transaction is expected to close in the first half of 2012, subject to customary closing conditions, including approval from the relevant competition authorities.