Technip to acquire Brazilian construction company UTC

French company Technip SA has agreed to acquire UTC Projectos & Consultoría SA, a Brazilian engineering and construction company. Terms and the closing date were not disclosed.


By the OGJ Online Staff

HOUSTON, Apr. 18 -- French company Technip SA has agreed to acquire UTC Projectos & Consultoría SA, a Brazilian engineering and construction company.

Terms and the closing date were not disclosed.

UTC has performed work for oil and gas industry, both turnkey and contract, and has a long relationship with Brazilian operator Petroleos de Brasileiro SA (Petrobras).

Petrobras recently awarded UTC a contract to perform front-end engineering design for the floating facilities to develop the Albacora Leste field, said Technip.

Daniel Valot, chairman and CEO of Technip, said, "UTC ... will provide a major platform for Technip's growth in the strategic deepwater area and strengthen our presence in Brazil, where our other affiliate Krebs Engenharia has been active and successful for years in the petrochemical and fertilizer industries."

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