Technip and Vallourec subsidiary Serimax signed an agreement in principle in order to achieve a strategic partnership in the domain of pipeline welding that will see Technip acquire a minority stake in Serimax.
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Image from Technip. |
Technip and Serimax will combine their expertise and will deploy the Serimax welding technology at Technip’ spoolbases and S-lay vessels.
The deal is expected to lead to investments in joint research and development (R&D) programs and reel-lay welding solutions; in addition to increasing operational performance through enhanced productivity, improved scheduling and higher integration of the value chain, Technip said.
This strategic partnership, which is subject to regulatory approvals, will include exclusive arrangements in the reel-lay welding pipeline segment as well as R&D related programs.
Serimax will remain an independent service and technology provider, and will continue to serve its clients in the offshore, onshore pipeline and fabrication markets.
“Serimax is recognized for its experience in major international line pipe projects, with a reputation for quality, service and innovation and a strong commitment to R&D. 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,” Hallvard Hasselknippe, Technip president subsea said. “This partnership is part of Technip’s strategic focus on technology, a key differentiator to contribute to costs optimization on projects.”
“Technip and Serimax have a longstanding relationship and this is a strategic move we have endorsed, in keeping with optimizing on the strengths of the organizations,” Didier Hornet, Vallourec senior vice president Eastern Hemisphere said. “We are confident that combining both company’s technologies will make a real difference to the market and offers greater opportunities to think differently about how we package solutions for clients.”
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