The acquisition will further strengthen Technip’s ability to provide technology to the refining and petrochemicals industries, diversify its Onshore/Offshore segment, and expand and supply unconventional gas to the growing downstream markets across the world.
The company also tends to benefit from Stone & Webster’s existing clientele and add skilled resources to its global research and engineering team.
Technip chairman and CEO Thierry Pilenko said the company welcomes a team of high-skilled resources.
"By combining our talents, strong portfolios and leading edge execution capabilities, we will further differentiate ourselves through first-class downstream technologies, offer unique products and services, and deliver greater value for both our customers and shareholders," Pilenko said.
Technip will develop a new business unit called Technip Stone & Webster Process Technology within its onshore/offshore segment.
