Toronto, Canada - Polyurethane coatings manufacturer Bredero Shaw LLC - a subsidiary of ShawCor Ltd - has acquired a 50 percent stake in Brazilian corrosion coating and piping manufacturer Eupec Brasil Ltda.
The acquisition from Eupec PipeCoatings GmbH is subject to Brazilian regulatory approval, after which the new entity will be renamed Bredero Shaw Revestimentos de Tubos Ltda.
The other 50 percent stake in Eupec Brasil is owned by Delta Premium Trading Co., partner in Bredero Shaw's existing Brazilian joint venture, Thermotite Brasil Ltda.
Both facilities are based in Belo Horizonte.
''With the acquisition of the 50 percent interest in Eupec Brasil Ltda, Bredero Shaw will be able to offer a complete range of anti-corrosion coatings and linings along with high performance insulation coatings to serve both the onshore and offshore segments of the Brazilian pipeline market,'' a company statement said.
''This investment in Bredero Shaw Revestimentos de Tubos Ltda is a key part of the company's overall strategy to serve growing South American oil and gas markets with leading pipe coating technologies.''