Technip (Paris), a leading global engineering & construction firm, announced today that it had entered into an agreement with Air Liquide to purchase all of Zimmer polymer technology business. The business, based in Frankfurt, includes technologies for the production of polyesters and nylon, research and development facilities, and a team of around 40 engineers, researchers and project teams.
The new business will diversify and strengthen Technip’s portfolio of downstream technologies in the onshore segment by enhancing its position as a technology provider to the petrochemical industries. It will also reinforce Technip’s relationships with clients and partners worldwide, backed by the Zimmer recognized expertise, diversify the onshore segment by adding revenue based on technology supply and by adding 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 to manage the company’s expanding portfolio of downstream process technologies.
“The state-of-the-art Zimmer polymer technology portfolio and the team’s 60 years of experience in the industry will reinforce our focus on technology as a way to differentiate us from competitors,” says Stan Knez, senior v.p./Technip Stone & Webster process technology.
Separately, Technip has announced that it has decided against making an offer to acquire seismic surveyor CGG. Technip says that on 10 November it approached the board of CGG to explore the option of making an offer for the company. But, following negative response it received, Technip decided not to file a tender offer for CGG.
By Natasha Alperowicz