PARIS--(BUSINESS WIRE)--
Regulatory News:
Technip (TEC.PA) (ISIN:FR0000131708) (TKPPY) announced today that it has entered into an agreement with Air Liquide Global E&C Solutions Germany to purchase all of its Zimmer® polymer technology business. Based in Frankfurt, Germany, the business includes technologies for the processing of polyesters and polyamides1, research and development facilities, and a team of around 40 skilled engineers, researchers and project teams.
The new polymers business will diversify and strengthen Technip’s portfolio of downstream technologies in its Onshore segment by:
- Enhancing Group’s position as a technology provider to the petrochemicals industries
- Reinforcing relationships with clients and partners worldwide, backed by the Zimmer recognized expertise
- Diversifying the Onshore segment, adding revenue based on technology supply
- Adding skilled resources, notably in technology development in Europe
Technip plans to integrate the new polymers technology business through Technip Stone & Webster Process Technology, the Onshore global business unit formed in 2012 to manage the company’s expanding portfolio of downstream process technologies.
Stan Knez, Senior Vice President, Technip Stone & Webster Process Technology, commented: "The state-of-the-art Zimmer polymer technology portfolio and the team’s 60 years of experience in the industry will reinforce our focus on technology as a way to differentiate us from our competitors. We look forward to welcoming this talented group to the Technip team.”
Technip has a strong track record in major project execution and is uniquely positioned to provide services for our clients ranging from conceptual studies, PDPs2, FEEDs3, and detailed engineering through procurement and construction.
The transaction is expected to close by year-end, subject to customary approval.
1 Polyester and polyamides are a class of polymers used in applications such as engineering plastics and textiles, packaging (such as bottles) and fabrics.
2 Process Design Packages
3 Front End Engineering Design
Technip is a world leader in project management, engineering and construction for the energy industry.
From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 40,000 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.
Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.
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