Engineering company Civmec looks set to buy a subsidiary of Technip in a deal which would include work with the oil and gas services provider.
The company has agreed to enter into a due diligence phase to acquire PT Global Industries Asia Pacific.
The deal would enable both heavy engineering, modularisation and pre-cast concrete works.
Civmec chief executive Pat Tallon said the proposed deal was an opportunity for the company to expand its operations overseas.
It is expected the sale would be completed in August.
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