Technip Energies (PARIS: TE) announces the acquisition of the businesses of GST srl and Energeco srl, two engineering companies based in Rome, Italy.
GST srl and Energeco srl are specialized in process engineering and piping design, with a combined workforce of around 70 employees operating in the fields of energy, chemistry and other industries.
With these acquisitions, Technip Energies pursues its strategic objective of expanding its process engineering workforce, skilled in assessing and mastering technologies, to address early engagement activities and energy transition initiatives.
This acquisition builds on the two companies' long-standing collaboration with Technip Energies as subcontractors.
Loic Chapuis, Chief Operating Officer of Technip Energies commented: "We are pleased to welcome the talents and expertise of G.S.T srl and Energeco srl. This business acquisition will strengthen our ability to execute early engagement projects and energy transition initiatives, contributing to drive growth within our Technology, Products and Services segment."
Edoardo Selloni, Founder G.S.T. srl and Energeco srl, commented: "I am very happy to sell the activities of my companies to a global player in the engineering sector, with whom we have collaborated closely for 20 years. I am also certain that Technip Energies will be able to make the best use of the engineers we have trained over all these years and further develop their competencies in the future."
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in LNG, hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The Company benefits from its robust Project Delivery model supported by an extensive Technology, Products and Services offering.
Operating in 34 countries, our 16,000 employees are fully committed to bringing our clients' innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies shares are listed on Euronext Paris. In addition, Technip Energies has a Level 1 sponsored American Depositary Receipts ("ADR") program, with its ADRs trading over the counter.
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