Nordic Business Report-April 7, 2006-SWECO and Technip Offshore break up Finnish joint company PI-Rauma Oy
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The Finnish engineering company PI-Rauma Oy is to be split into two separate companies by its owners, SWECO PIC Oy and Technip Offshore Finland Oy, the Swedish consulting group SWECO said on Thursday (6 April).
PI-Rauma's shipbuilding and offshore consulting business will form a new company with 130 employees, wholly owned by SWECO PIC, while the offshore operations with 88 employees will transfer to Technip Offshore Finland.
"The purpose is to develop operations by dividing PI-Rauma in line with the core business of the two owners, thus increasing the market potential. We will continue our successful collaboration with Technip after the separation," said Lauri Hintikka, managing director of SWECO PIC.
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