Technip Buys into Vallourec’s Pipeline Welding Division
- Business & Finance
Technip has acquired a minority stake in Serimax, a Vallourec subsidiary and provider of offshore & onshore welding solutions, in order to achieve a strategic partnership in the domain of pipeline welding.
The agreement would see these two companies combine their expertise and deploy the Serimax welding technology at Technip spoolbases and S-lay vessels.
“Combining our domains of expertise, we believe that Serimax’s deployment on our spoolbases and S-lay vessels will enable us to offer to our clients a harmonized solution with greater operational repeatability. This partnership is part of Technip’s strategic focus on technology, a key differentiator to contribute to costs optimization on projects,” says Hallvard Hasselknippe, President Subsea, Technip.
The value of the deal was not disclosed, however, Technip said that Serimax will remain an independent service and technology provider in the offshore, onshore pipeline and fabrication markets.
Frederic Castrec, managing director for Serimax, said: “We are delighted Technip has the confidence in and has selected Serimax, to further support their future project developments. It is a clear recognition of Serimax’s capability. Together, we can combine our respective areas of expertise to develop an integrated technical and commercial solution.”