This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Technip And HQC Create Two Joint Ventures To Improve Access To The European And Chinese Procurement Markets

Regulatory News :

Technip (Paris:TEC) (ISIN:FR0000131708) (ADR:TKPPY) announces that its operating center in Rome, Italy, has signed an agreement with China Huanqiu Contracting & Engineering Corporation (HQC) (1) to set up two joint-venture companies. Headquartered in Rome (2) and Beijing (3), China, they will be responsible for procurement activities, respectively on the European and Chinese markets.

These companies will perform procurement activities for worldwide onshore and offshore projects.

By establishing a local presence, and thus eliminating the cultural and language barriers, these new companies will allow an immediate knowledge and access to the local suppliers market, based on Technip and HQC’s experience.

Marco Villa, Senior Vice President of Technip Region B (4), commented: “Formalizing our cooperation with HQC, with which we have been collaborating for 25 years, will help us expand business development opportunities on the international oil & gas market, especially in China, and deliver added value to our clients.”

Wang Shihong, President of HQC, declared: “ With those two new companies, we will take advantage of the existing synergies between HQC and Technip to facilitate and increase commercial access to the European and Chinese markets: we will benefit from Technip's multi-local network of European suppliers and vice versa.”

____

(1) Enterprise affiliated with China National Petroleum Company (CNPC).

(2) Joint-venture company owned by Technip in Italy for 51% and HQC for 49%.

(3) Joint-venture company owned by HQC for 51% and Technip in Italy for 49%.

(4) Technip Region B is composed of Italy, Greece, Eastern Europe/Russia/CIS and South America. It is also in charge of Onshore-Offshore activities in Canada.

°

° °

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 38,000 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.Technip shares are listed on the NYSE Euronext Paris exchange and traded in the USA on the OTCQX marketplace (OTCQX: TKPPY).

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,968.49 -167.23 -0.92%
S&P 500 2,089.56 -11.48 -0.55%
NASDAQ 4,971.4740 -11.3350 -0.23%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs