Technip to sell its subsidiary TPS
Technip has signed an agreement to sell to WSP(1) its TPS subsidiary, which specializes in engineering and construction for the industry.
Based in Paris with offices located in Lyon, Toulouse and Abu Dhabi, TPS brings together all the necessary skills to devise and realize outstanding private and public projects: structures, thermal engineering, electrical engineering, sub-trade, exterior fittings… TPS holds an impressive achievement track-record most notably working on Bibliothèque de France, Renault’s Technocentre and Airbus’ A380 assembly plant.
This sale is in line with Technip’s strategy to focus on energy, its core business. It will also enable TPS to better tackle its operational challenges and to carry on its growth as part of WSP, one of the world’s leading professional services firms with a strong expertise in the building sector.
The closing of the operation should take place within the first six months of 2014.
(1) WSP is one of the world’s leading professional services firms, working with governments, businesses, architects and planners and providing integrated solutions across many disciplines. The firm provides services to transform the built environment and restore the natural environment, and its expertise ranges from environmental remediation to urban planning, from engineering iconic buildings to designing sustainable transport networks, and from developing the energy sources of the future to enabling new ways of extracting essential resources. Its shares are traded in the Toronto Stock Exchange under the symbol WSP.
Technip is a world leader in project management, engineering and construction for the energy industry.
From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 40,000 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges.
Present in 48 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction.
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Technip shares are listed on the NYSE Euronext Paris exchange and traded in the USA on the OTCQX marketplace (OTCQX: TKPPY).