ROYAL IHC ACQUIRES MAJORITY STAKE IN BRASTEC

Royal IHC (IHC) has acquired a majority stake in Brastec Technologies based in Brazil. Brastec Technologies designs and builds production lines for the production of umbilicals and flexible pipes. This agreement fulfills two important elements of IHC’s business strategy: a foothold in the Brazilian market; and the acquisition of Dutch-based SAS Offshore which was fully owned by Brastec Technologies.