The Heerema Group, based in the Netherlands, this week acquired Intec Engineering Inc., Houston, through completion of a stock purchase agreement. Financial terms were not disclosed.
Both companies will continue to operate independently but will cooperate to pursue engineering, procurement and construction contracts for deepwater field developments, officials said.
Together they will offer �construct while design� contracts to clients that will reduce cycle times for deepwater projects, said officials.
�We plan to leverage Intec�s renown capability for technology and project management with Heerema�s strengths and construction management capability to tackle today�s deepwater frontier,� said Jan Meek, Heerema Group director.
�Intec�s value to the new owner is based on our reputation for objectivity and technical specialty, which we have built up over the years,� said Willem Timmermans, president of the Houston firm. Intec was founded in 1984 by its previous four owners with the support of a Finland shipbuilder.