Chemical Week Magazine :: Business & Finance :: United States/Americas
Technip Acquires Shaw’s Energy & Chemicals Group for €225 Million
11:40 AM MDT | June 1, 2012 | —Robert Westervelt and Natasha Alperowicz
Technip (Paris) has reached a definitive agreement to acquire the energy and chemicals (E&C) business of Shaw Industries for €225 million ($287 million). The acquired business has pro forma annualized revenues of €220 million. Technip says the deal will roughly double the revenues that it generates in refining and petrochemicals, to about €400 million/year. The business includes Stone & Webster (S&W), Shaw’s ethylene and advanced furnace technology operation. It also gives Technip greater access to ethylene projects in the U.S....
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