Insituform Technologies, specialist in pipeline protection, and Wasco Energy, one of the world’s leading providers of pipe coating solutions and services for gas, oil and water industries, have established two new joint ventures.
Bayou Wasco Insulation Technologies, name of first Insituform-Wasco joint venture (JV), has been structured to offer offshore insulation services. The new entity will mainly serve customers in the Gulf of Mexico, the Caribbean, Central America and the U.S. Insituform owns 51% of the JV, while Wasco owns the remaining 49%. The JV integrates sales, operational and distribution capabilities of Insituform’s subsidiary, The Bayou Companies, with Wasco’s expertise in the insulation industry. Thus, the new business will offer complete thermal insulation coating services to energy customers. Bayou Wasco Insulation will be located in New Iberia, Louisiana and the functioning of the facilities are expected to begin in early 2012.
The second JV has been established to deliver the products and services of Insituform’s subsidiaries, United Pipeline Systems and Corrpro Companies. The JV will be named as WCU Corrosion Technologies and will be located in Singapore.
United Pipeline Systems provides high-density polyethylene (HDPE) liners, including Safetyliner and Tite Liner to protect internal pipelines. A wide range of corrosion protection solutions and services is provided by Corrpro Companies. WCU Corrosion Technologies will serve customers across Asia. Wasco will own 51% of the JV, while Insituform will own 49%.
The need for high-quality thermal coatings is increasing due to deeper offshore drilling. Hence, the new businesses will strengthen the position of Insituform in the mining and energy markets. The partnership will also expand Wasco’s insulation business.
Source: http://www.insituform.com/