Technip has entered into an agreement with Air Liquide Global E&C Solutions Germany to purchase all of its Zimmer polymer technology business.
The French services company said the deal will diversify and strengthen its portfolio of downstream technologies in its onshore division.
It follows the announcement by Technip that its bid for CGG was unsuccessful.
Stan Knez, senior vice president, Technip Stone & Webster Process Technology, said: “The state-of-the-art Zimmer polymer technology portfolio and the team’s 60 years of experience in the industry will reinforce our focus on technology as a way to differentiate us from our competitors.
“We look forward to welcoming this talented group to the Technip team.”
The Air Liquide business, which is based in Frankfurt,includes technologies for the processing of polyesters and polyamides1, research and development facilities, and a team of around 40 skilled engineers, researchers and project teams.
The transaction is expected to close by year-end, subject to customary approval.