(RTTNews.com) – Fluor Corp. and Stork announced that Fluor has signed an agreement with UK-based private equity firm Arle Capital Partners to acquire 100 percent of Stork Holding B.V. for an investment of $755 million.
Upon closing of the acquisition, Fluor will begin combining its Operations & Maintenance organization with Stork. The acquisition is expected to be accretive to Fluor’s earnings per share in 2016.
Stork is a global provider of maintenance, modification and asset integrity services associated with large existing industrial facilities in the oil and gas, chemicals, petrochemicals, industrial and power markets. It has operations in Continental Europe, United Kingdom, the Middle East, Asia Pacific and the Americas.
The combined group, branded Stork, will be headquartered in the Netherlands. Arnold Steenbakker, Stork CEO, will lead the combined group. The management team will be formed by Stork’s existing management combined with the managers of Fluor’s Operations & Maintenance business.
INEOS Styrolution, the global leader in styrenics, has today announced the official opening of a new world-scale ABS facility located in Ningbo, China, together with its joint venture partner SINOPEC. The facility has an annual nameplate capacity of 600,000 tonnes.
The merger of Röhm’s Acrylic Products business unit and SABIC’s Functional Forms business has resulted in the formation of Polyvantis. This new company will offer extruded products in the forms film, sheet, pipe and rod for markets that include building and construction, transportation and aviation, electrical and electronics, automotive and home and garden.
Abu Dhabi National Oil Co. (Adnoc) is considering plans to acquire upstream oil and gas company Wintershall DEA, an affiliate of BASF SE, according to a Bloomberg report citing people with knowledge of the matter. A deal to acquire Wintershall DEA could be worth more than €10 billion, the report said. BASF and Adnoc declined to comment on the report.