Technip acquires minority stake in welding technology firm Serimax

Technip acquires minority stake in welding technology firm Serimax

12:10 PM, 12th January 2016
Technip acquires minority stake in welding technology firm Serimax

BOULOGNE & PARIS, FRANCE: Technip SA said that it has signed an agreement with Serimax, subsidiary of Vallourec SA in order to achieve a strategic partnership in the domain of pipeline welding.

In this respect, Technip, a long-lasting customer of Serimax, would acquire a minority stake in Serimax.

Technip will deploy the Serimax welding technology at Technip’ spoolbases (primarily used for the fabrication and spooling of rigid pipe onto vessels with Reel-lay capability) and S-lay vessels (pipeline laying method for which all assembly activity of the pipe is done onboard the vessel and laid simultaneously offshore).

This will allow both partners to offer high end competitive capabilities to address operators’ capital investment constraints for future projects; invest in joint R&D programs and innovative reel-lay welding solutions to meet the growing technical challenges of projects and increase operational performance through enhanced productivity, improved scheduling and higher integration of the value chain.

This strategic partnership, will include exclusive arrangements in the Reel-lay welding pipeline segment (pipeline laying method for which the pipes are assembled in an onshore spoolbase) as well as R&D related programmes.

Serimax will remain an independent service and technology provider, and will continue to serve its clients in the offshore, onshore pipeline and fabrication markets.

“We are delighted Technip has selected Serimax, to support their future project developments. Together, we can combine our respective areas of expertise to develop an integrated technical and commercial solution,” said Frederic Castrec, managing director, Serimax.

“This partnership is part of Technip’s strategic focus on technology, a key differentiator to contribute to costs optimization on projects,” said Hallvard Hasselknippe, president, subsea, Technip.

“We are confident that combining both company’s technologies will make a real difference to the market. Delivering solutions to the oil and gas market require companies that are agile and capable of growing together to meet market expectations,” said Didier Hornet, senior VP eastern hemisphere, responsible for Vallourec’s oil and gas strategy.

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