Technip rubber-stamps Malaysia partnership

Technip has agreed to a long-term collaboration with MISC Berhad and Malaysia Marine and Heavy Engineering Holdings Berhad (MHB).

Offshore staff

PARIS -- Technip has agreed to a long-term collaboration with MISC Berhad and Malaysia Marine and Heavy Engineering Holdings Berhad (MHB). Both companies are owned by Malaysia’s national oil corporation, Petroliam Nasional Berhad (PETRONAS).

To strengthen ties between the groups, Technip will take an 8% stake in MHB in connection with the listing and initial public offering of MHB's ordinary shares on the Kuala Lumpur stock exchange, expected to open at the end of October.

This investment extends Technip’s local content in Malaysia, and is designed to reinforce its position in the Asia/Pacific region.

10/15/2010

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