Technip acquired Shaw Group energy and chemicals unit
Summary
Technip completed its acquisition of Shaw Group’s energy and chemicals unit for €225m. The deal strengthens Technip’s technology position in refining and petrochemicals and expands its footprint in the Middle East. Technip also said the acquired business will improve margins compared with its existing onshore/offshore segment. The acquisition includes most of Shaw Group’s Stone & Webster subsidiary, which continues to work on major oilfield projects in the UAE.
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