(Alliance News) - Fincantieri Spa announced Thursday that Remazel has completed the acquisition of 100% of the shares of H Tech Serviços e Manutenção Ltda, a Brazilian company specializing in the inspection and maintenance services of offshore facilities.
As the company explained in a statement, the acquisition is conceived as a long-term investment, aimed at creating value for clients, partners, and stakeholders.
"Brazil is currently one of the fastest-growing areas for offshore Oil & Gas investments and, at the same time, represents a significant development market for activities in the underwater domain, an area in which Remazel plays a strategic role for the group," the statement read.
In the coming months, a merger project between the two entities will be launched, with the goal of maximizing industrial and organizational synergies.
Fincantieri shares fell 0.4% to EUR14.34 per share.
By Claudia Cavaliere, Alliance News reporter
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