Press Releases - Corporate News


Paris, February 1, 2006

Disposal of assets in Portugal and united States

In the frame of its non-core asset disposal strategy, Technip has completed two transactions.

On December 22, 2005, Technip sold its 84% interest in Technip Portugal to the entity’s management. Based in Lisbon, this company, which executes engineering contracts for the Portuguese market, employs 150 people and had revenues of €8 million in 2004.
Technip Portugal will change its name to Technoedif Engenharia and will continue to collaborate with Technip on a case-by-case basis on the Portuguese market.

The sale and purchase agreement signed between Technip and Gulf Island Fabrication on December 20, 2005 (*) is effective as of today. Consequently, Gulf Island Fabrication has acquired, in accordance with the conditions provided for in the agreement, the assets of Gulf Marine Fabricators, a Technip affiliate located near Corpus Christi, Texas (USA).
The cooperation agreement signed with Gulf Island Fabrication has also gone into effect, which will provide Technip with continued access to fabrication capacities in the Gulf of Mexico.

(*) see Technip press release dated 12/20/2005.

 

With a workforce of more than 20,000 people, Technip ranks among the top five corporations in the field of oil, gas and petrochemical engineering, construction and services. Headquartered in Paris, the Group is listed in New York and Paris. The Group’s main operations and engineering centers and business units are located in France, Italy, Germany, the UK, Norway, Finland, the Netherlands, the USA, Brazil, Abu-Dhabi, China, India, Malaysia and Australia. In support of its activities, the Group manufactures flexible pipes and umbilicals, and builds offshore platforms in its manufacturing plants and fabrication yards in France, Brazil, the UK, the USA, Finland and Angola, and has a fleet of specialized vessels for pipeline installation and subsea construction.

 

Technip Public Relations

Laurence Bricq: Ph. +33 (0) 1 47 78 26 37 Fax: +33 (0) 1 47 78 24 33 lbricq@technip.com

 

Hatch Public Relations

Tom Reid: Ph. +1 905 403 37 33 TomReid@hatch.ca

 

Technip Investor and Analyst Relations

G. Christopher Welton: Ph. +33 (0) 1 47 78 66 74 Fax: +33 (0) 1 47 78 67 58 cwelton@technip.com

Xavier d’Ouince:
Ph. +33 (0) 1 47 78 25 75 Fax: +33 (0) 1 47 78 67 58 xdouince@technip.com

 

Technip trades under the symbol TKP on the NYSE and under the ISIN FR0000131708 on the Euronext.

 

Technip trades under the symbol TKP on the NYSE and under the ISIN FR0000131708 on the Euronext.

Hatch’s website is accessible at http://www.hatch.ca