Business transfer HFG Engineer US to Iv-Groep
Heerema Fabrication Group (HFG) and Iv-Groep today announce an agreement for the transfer of business activities of HFG’s subsidiary HFG Engineering US (HFGE) to Iv-Groep as per 1 May 2010. HFG Engineering US is an international operating company for engineering services to the oil and gas industry and has offices in Houston and New Orleans.
The acquisition of HFG Engineering US will enable Iv-Groep to strengthen its position in the United States of America. HFG Engineering US provides worldwide engineering services to clients in the onshore and offshore oil & gas industry, offshore wind energy, biofuels and tar sands. This transfer will also offer opportunities for Iv-Groep to enhance the current activities in the United States of America for i.e. the infrastructural market.
The transaction will not affect ongoing projects or contracts, which will be transferred to the new company Iv-AGA. Furthermore, all 100 employees will be employed by Iv-AGA as per the same date.
“HFG has since many years a very close relationship with Iv-Groep and we are convinced that further development of the existing activities of HFG Engineering US is hereby ensured,” according to Arend Drenthe, CFO of Heerema Fabrication Group.
“This business transfer will enable Heerema Fabrication Group to focus on our core activities in Northwest Europe. The relationship with Iv-Groep will provide us access to the knowledge and experience in the area of engineering and developments of oil & gas projects in West Africa, which will create opportunities for our production locations in the Netherlands and United Kingdom,” continues Wim Matthijssen, COO of Heerema Fabrication Group.
“For Iv-Groep, especially for the division Iv-Oil & Gas, this acquisition offers enormous possibilities,” says Rob van de Waal, General Director of the Iv-Groep. “Iv-Oil & Gas is mostly active in the West-European market. This acquisition enables us to spread our wings to the US and achieve growth.” Wim Bal, Director of the Iv-Groep and Managing Director of Iv-Oil & Gas, underlines the words of Mr. van de Waal and adds: “The worldwide oil and gas market is for the main part being directed from Houston and this take-over offers potentials for our engineering services as well as for our daughter company Escher Process Modules, which is specialized in Gas Processing installations.”
About Heerema Fabrication Group:
Heerema Fabrication Group is a leading engineering and fabrication contractor for large and complex offshore structures to the global oil and gas and energy industry. HFG owns three large production locations in the Netherlands and United Kingdom, as well as a fabrication facility in Poland. Heerema Fabrication Group employs over 1,000 people. HFG is part of Heerema Group.
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