Plant manufacturer Technip (Paris / France; www.technip.com) has entered into an agreement to acquire Shaw Group’s (Baton Rouge, Louisiana / USA; www.shawgrp.com) Energy & Chemicals business for a cash consideration of about EUR 225m. The deal, which still has to meet the relevant regulatory approval, is expected to be completed in H2 this year. The agreement includes the process technologies of Stone & Webster, which Shaw had acquired in 2000 as well as the associated oil and gas engineering capacities, including downstream activities like polymerisation lines.

The business operates sites in the US (Houston, Texas as well as Cambridge and Weymouth, Massachussetts), the UK (Milton Keynes) and India (Mumbai). Its 1,200 employees posted sales of about EUR 220m in 2011 from technology licensing, engineering and equipment supply. Shaw said the deal will not include its Energy & Chemicals personnel at its headquarters in Baton Rouge nor Shaw Consulting International. The US group will also retain its Toronto-based operations, for which it is reviewing future options.