The joint venture was established to enhance the market potential for both companies by combining their strengths to participate in a wider scope of projects.
Williams Business Development and Marketing Senior Vice President Tarun Ganeriwal said: “Welding represents a key value-added specialty services offering for our customers across multiple end markets. Arc is well respected for its specialty welding and machining capabilities. As a result, this joint venture permits us to expand Williams’ services portfolio with a high quality partner that shares our passion and reputation for quality, responsiveness and execution.”
Williams President and CEO Tracy Pagliara said: “We believe this is a major step forward in our growth strategy to expand our service offerings for existing customers and deliver our capabilities to a broader range of prospective customers and markets. By working together, Williams and Arc should have opportunities to participate in potential projects that independently would not otherwise be available.”
Arc and Williams intend to pursue a variety of projects in power generation and other markets. Their respective responsibilities and compensation for each project will be determined based on the skills and contributions of each party relative to the requirements of the project.
Source: Company Press Release
