Acquisitions

Technip Buys into American Market

05/23/2012 | Editor: Dominik Stephan

The acquisition of process technology assets in the US opens Technip the door to booming downstream markets, analysts believe.
The acquisition of process technology assets in the US opens Technip the door to booming downstream markets, analysts believe. (Picture: Technip)

The American engineering conglomerate Shaw Group sells the process industry branch of its subsidiary Stone & Webster to Technip of France for a cash consideration of approximately €225 million.

Baton Rouge, Louisiana/USA – With this step, Technip acquires market shares and technology know–how on the American petrochemical and refinery markets, analysts believe. With the acquisition, the French company expands its total takeovers by additional € 220 million. A takeover of Stone & Webster's process technology assets could further enable Technip to profit from the booming downstream market in the US, backed by the growing supply of unconventional gas.

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