Valmet Forms Subsidiary In Houston To Serve U.S. Offshore Industry

Valmet Corporation of Finland recently formed a new subsidiary, Intec Engineering, Inc. in Houston, with American and Dutch partners. The principal business of the new company is engineering, consulting, and selling its services to the offshore industry. Through the experience of the other partners, Valmet will get into direct contact with leading companies and the latest technological developments in the offshore field.

"After putting in a lot of work on pipelayers, channels into direct engineering export opened for Valmet.

During the autumn (1983) we got consulting tasks concerning arctic pipelayer projects from American oil companies. In order to make the most of these possibilities, it was a natural step to form our own company," says Kari Airaksinen, managing director of Valmet's Helsinki Shipyard.

"Last year we invested several million Finnish marks in the pipelayer project developed for the Soviet Union. As this project was then postponed by the buyer, we started to search for new objects for the acquired know-how. With our new partners we got into contact with Exxon, Sohio, Shell, Mo- bil, and Arco, for whom we planned equipment for pipelaying and maintenance. Through the new company our possibilities to take part in solid commercial ventures will increase considerably," Mr.

Airaksinen states.

Intec Engineering currently employs only 10 personnel, but expects to expand to about 25 by the end of 1985. The firm will specialize in the design and construction of underwater pipelines, pipelaying equipment, floating production platforms and terminals, and underwater technology, particularly in arctic regions and deep waters.

For further information on Intec Engineering, Circle 84 on Reader Service Card

Maritime Reporter Magazine, page 6, May 15, 1984

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