Royal IHC Acquires Majority Stake in Brastec Technologies
Royal IHC has acquired a majority stake in Brazilian-based Brastec Technologies, a designer and builder of tailor-made production lines for the production of umbilicals and flexible pipes.
According to IHC, the agreement fulfils two important elements of its business strategy: a foothold in the important Brazilian market; and the acquisition of Dutch-based SAS Offshore, which was fully owned by Brastec Technologies.
Founded in 2002, Brastec Technologies has built a customer base consisting of suppliers to oil companies, mainly manufacturers of flexible pipes and umbilical cables. The value-added equipment manufactured by Brastec is considered as essential for the activities within the oil-and-gas exploration supply chain, IHC said.
“These investments are a good fit for our strategy of internationalization and strengthening our position in the offshore market,” said IHC’s CEO Bram Roelse. “With a foothold in Brazil, we are able to meet the demand for local content and service our customers with better regional facilities.”