Technip to buy Zimmer polymer technologies
12/15/2014 12:00:00 AM
Technip has entered into an agreement with Air Liquide to purchase all of its Zimmer polymer technology business.
Based in Frankfurt, Germany, the business includes technologies for the processing of polyesters and polyamides1, research and development facilities, and a team of around 40 skilled engineers, researchers and project teams.
The new polymers business will diversify and strengthen Technip’s portfolio of downstream technologies in its onshore segment by:
- Enhancing the group’s position as a technology provider to the petrochemicals industries,
- Reinforcing relationships with clients and partners worldwide, backed by the Zimmer recognized expertise,
- Diversifying the onshore segment, adding revenue based on technology supply,
- Adding skilled resources, notably in technology development in Europe.
Technip says it plans to integrate the new polymers technology business through Technip Stone & Webster Process Technology.
"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 our competitors," said Stan Knez, senior vice president of Technip Stone & Webster Process Technology. "We look forward to welcoming this talented group to the Technip team.”
The transaction is expected to close by year-end, subject to customary approval.
Comments