Technip a leader in project management, engineering and construction for the energy industry said it will purchase the Zimmer polymer technology business from Air Liquide Global E&C Solutions, Germany.
The Zimmer 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.
According to Technip, the new polymers business will diversify and strengthen Technip’s portfolio of downstream technologies in its onshore segment.
It is expected to enhance Technip’s position as a technology provider to the petrochemicals industries and reinforce relations with global clients and partners, backed by Zimmer’s recognized expertise.
Technip said it will also help diversify its onshore segment; thereby adding revenue based on technology supply and finally add 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.
Stan Knez, Sr VP at Technip Stone & Webster Process said, "The Zimmer polymer technology portfolio will reinforce our focus on technology as a way to differentiate us from our competitors.”
Technip has a strong track record in major project execution and is positioned to provide services for its clients ranging from conceptual studies, PDPs2, FEEDs3, and detailed engineering.
The transaction is expected to close by year-end, subject to customary approval. (AR)
