Stolt Offshore expands engineering capability News
// July 27, 2001
Stolt Offshore has announced the acquisition of the Paris based engineering company Ingerop Litwin from the French construction group VINCI. Ingerop Litwin, which has 180 engineers and a turnover of $50 million, derives 20 per cent of its business from energy related engineering services and 80 per cent from EPIC projects in upstream, offshore and onshore engineering and in downstream petrochemical, refinery and power plant projects.
Ingerop Litwin will be merged with the newly formed affiliate of Stolt Offshore, Paragon Europe, and will be renamed Paragon Litwin. This merger will increase Paragon's worldwide staffing level to 700 employees based in Europe and the United States.
Bernard Vossier, Chief Executive Officer of Stolt Offshore said "The acquisition of Ingerop Litwin advances our strategy to grow the Paragon group of companies to enhance their ability to supply engineering services to energy companies and to support Stolt Offshore in winning and executing major subsea EPIC contracts worldwide".
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