Technip acquires minority stake in pipeline welding firm Serimax

Technip will buy a minority stake in the Vallourec subsidiary Serimax, a global player in offshore & onshore welding solutions, to achieve a strategic partnership in the domain of pipeline welding.
 
Technip, a long-lasting customer of Serimax, and Serimax will combine their expertise and will deploy the Serimax welding technology at Technip’ spoolbases and S-lay vessels. A spoolbase is primarily used for the fabrication and spooling of rigid pipe onto vessels with Reel-lay capability. Technip owns and operates four rigid pipe spoolbase facilities located close to clients' deepwater developments. S-lay refers to a pipeline laying method for which all assembly activity of the pipe is done onboard the vessel and laid simultaneously offshore.
   
This strategic partnership, which is subject to regulatory approvals, will include exclusive arrangements in the Reel-lay welding pipeline segment as well as research and development (R&D) related programs. Reel-lay refers to a pipeline laying method for which the pipes are assembled in an onshore spoolbase and then spooled onto reels on vessels or at quay side. The pipe is then unspooled from reels during offshore activities.
 
Serimax will remain an independent service and technology provider, and will continue to serve its clients in the offshore, onshore pipeline and fabrication markets.
 
Hallvard Hasselknippe, president subsea, Technip, commented, “Serimax is recognised for its experience in major international line pipe projects, with a reputation for quality, service and innovation and a strong commitment to R&D. Combining our domains of expertise, we believe that Serimax’s deployment on our spoolbases and S-lay vessels will enable us to offer to our clients a harmonized solution with greater operational repeatability. This partnership is part of Technip’s strategic focus on technology, a key differentiator to contribute to costs optimisation on projects.”