Technip Acquires Stone & Webster

Press Release
Sunday, September 02, 2012

Technip acquires Stone & Webster process technologies & associated oil & gas engineering capabilities from the Shaw Group.

Technip paid cash consideration of around €225 million from existing cash resources, which will be subject to customary price adjustments.

According to Technip, completion of this transaction creates a world-class downstream technology leader and will enable Technip to:
    •    Enhance substantially its position as a technology provider to the refining and petrochemicals industries,
    •    Diversify further its Onshore/Offshore segment, adding revenues based on technology supply,
    •    Strengthen its relationships with clients worldwide, backed by the Stone & Webster reputation,
    •    Expand in promising growth areas such as the US, where downstream markets will benefit from the supply of unconventional gas,
    •    Add skilled resources, notably in research in the US, and engineering in the US, the UK and India.

To make the most of these strengths, a new business unit, Technip Stone & Webster Process Technology, will be developed within the Onshore/Offshore segment.

Thierry Pilenko, Chairman and CEO, commented:
“I am delighted to welcome a high-skilled team into the Technip family. By combining our talents, strong portfolios and leading edge execution capabilities, we will further differentiate ourselves through first-class downstream technologies, offer unique products and services, and deliver greater value for both our customers and shareholders.”
 

Maritime Reporter September 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

NYK Opens New Planning Center in Kumamoto

On September 1, 2014, NYK and Kozo Keikaku Engineering Inc. established a stowage planning center for container shipping at the Kumamoto office of Kozo Keikaku Engineering Inc.

TNO Receives 'International Media Award for Prevention'

The Engagementgame developed by TNO in collaboration with partners is the winner of the 'International Media Award for Prevention' in the category Multi Media.

More German Shipowners Look to Gibdock for Repairs

Gibdock remarks it has continued to see its stock rise amongst the German shipowner community over the past year. Indeed the Gibraltar ship repair yard’s recent

Offshore

Drydocks World to Participate in SMM 2014

Drydocks World, the leading provider of maritime and offshore services to the shipping, oil, gas, and energy sectors, will participate in the prestigious 26th edition of Shipbuilding,

SBM Offshore Completes Real Estate Divestment

SBM Offshore is pleased to announce that is has completed the sale and lease back of its Monaco real estate portfolio.  The last of the three buildings was sold

Keppel T & T Appoints Lim Chin Leong to its Board

Keppel Telecommunications & Transportation Ltd (Keppel T&T) has strengthened its Board with the appointment of Mr Lim Chin Leong as an independent, non-executive

Energy

Fortum Buys Stake in Wave Power Startup

Finland's top utility, state-controlled Fortum, on Monday said it has acquired a 14 percent stake in Finnish wave energy developer Wello. Wello has developed

Gazprom Neft Starts Oil Production, Shipments from Iraqi Badra Field

Russia's Gazprom Neft said on Monday it started commercial production and shipments of oil produced at its Iraqi Badra oil field. Gazprom Neft, the oil arm of state gas company Gazprom ,

Statoil Says Normal Operations at In Amenas Gas Plant Resuming

Normal operations are resuming at the In Amenas gas plant in Algeria 18 months after a raid by Islamist militants killed forty employees, one of the plant's operators, Statoil, said on Monday.

Mergers & Acquisitions

NYK Opens New Planning Center in Kumamoto

On September 1, 2014, NYK and Kozo Keikaku Engineering Inc. established a stowage planning center for container shipping at the Kumamoto office of Kozo Keikaku Engineering Inc.

Dentressangle Acquire U.S. 3PL Provider Jacobson

France's Norbert Dentressangle says it has completed the previously announced acquisition of all the shares of privately held U.S. third party logistics (3PL) provider,

KKR, Borealis Maritime JV acquires 9 container ships

KKR and Borealis Maritime today announced the acquisition of a portfolio of nine feeder container vessels in a sale process coordinated by Commerzbank. The vessels

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Port Authority Salvage Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1187 sec (8 req/sec)