Royal IHC (IHC) has acquired a majority stake in Brastec Technologies, based in Brazil. Brastec Technologies designs and builds value-added, tailor-made production lines for the production of umbilicals and flexible pipes. This agreement fulfils two important elements of IHC business strategy: a foothold in the important Brazilian market; and the acquisition of Dutch-based SAS Offshore, which was fully owned by Brastec Technologies.
Founded in 2002, Brastec Technologies has built an impressive customer base consisting of mayor suppliers to oil companies. These multinationals are mainly manufacturers of flexible pipes and umbilical cables. The value-added equipment manufactured by Brastec is considered as essential for the activities within the oil-and-gas exploration supply chain.
"These investments are a good fit for our strategy of internationalisation, and strengthening our position in the offshore market," says IHC's CEO Bram Roelse. "With a foothold in Brazil, we are able to meet the demand for local content and service our customers with better regional facilities."
Royal IHC acquires majority stake in Brastec Technologies