IHI Corporation Announces Acquisition of Kvaerner Americas’ EPC Center Houston Assets from Kvaerner ASA to Create IHI E&C International Corporation
Houston, Texas, July , 2012 — IHI Corporation (IHI) today announced the planned acquisition of Kvaerner Americas’ operations and related assets, known as the EPC Center Houston, for an undisclosed amount. EPC Center Houston is an engineering and construction company with significant experience delivering liquefied natural gas (LNG) terminals, as well as oil and gas processing and downstream petrochemical facilities around the world. IHI is a global engineering, construction and manufacturing company, with approximately 27,000 employees in more than 10 manufacturing centers in Japan, 18 branches and sales offices in Japan, 14 offices overseas, and 142 subsidiaries world-wide.
EPC Center Houston and IHI have worked together since 2004, successfully developing a business focused on the delivery of LNG terminals and oil and gas processing facilities in North America. The new company will be called IHI E&C International Corporation (IHI E&C) and will continue to be based in Houston
“The added expertise of IHI E&C establishes IHI as a practiced and progressive innovator in global engineering, procurement and construction (EPC)” said Kazuyoshi Matsui, President of IHI Plant Engineering Operations. “With IHI E&C as part of IHI Plant Engineering Operations, we have both solidified and strengthened our ongoing collaboration and expanded the IHI brand in the Americas,” Matsui added.
“Kvaerner EPC Center Houston has been in a successful joint venture with IHI on major projects throughout North America for many years. We are pleased and honored to join forces through this acquisition, and look forward to bringing the added depth and breadth of products and services to our customers,” said IHI E&C President Glyn Rodgers.
The acquisition is expected to close in the third quarter of 2012.
IHI (headquarters: Tokyo; president: Tamotsu Saito; herein “IHI”)
The company helps its customers solve their most challenging environmental, industrial, social and energy related problems through its depth and breadth of engineering expertise. IHI is focused on manufacturing technology and improving the competitiveness of products and services by continuously strengthening the capabilities required in development, design, supply, manufacturing and construction.
IHI’s strives to become a global enterprise offering safety and security for the benefit of both the environment and humanity.