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Haldor Topsoe and Ferrostaal to form joint venture

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Hydrocarbon Engineering,

Ferrostaal GmbH and Haldor Topsoe A/S have announced the establishment of Ferrostaal Topsoe Projects GmbH, a new joint venture that will be based in Essen and owned with equal shares by the two companies. The new company will position itself as a leading player in developing, financing and realising major industrial projects in the petrochemical, refining and environmental sectors. Fast growing emerging economies around the world will be the primary market focus, but North America is also expected to hold business potential for the new company. The joint venture is subject to approval from the regulatory authorities.

"Ferrostaal Topsoe Projects is a perfect match of competences. Combining the world leading technology portfolio of Haldor Topsoe with our ability to drive project development and facilitate investments translates into a highly attractive value proposition for customers,” said Dr Klaus Lesker, Managing Director of Ferrostaal GmbH. “Moreover, in emerging economies our projects will leave a very positive footprint by enabling entire countries to utilise natural resources, natural gas or coal for example, to produce fertiliser or other valuable commodities, and in the process stimulate job creation and boost sustainable economic growth.”

From Haldor Topsoe’s point of view the new joint venture also offers a high potential for growth and new business opportunities, according to CEO, Bjerne S. Clausen: “Building partnerships to ‘fast track’ our way into new business areas or expand our current market reach is a key part of our growth strategy. In this context the new joint venture is a huge step forward due to the positive synergies it carries. We also expect the joint venture to create opportunities within operations and maintenance of plants, a key business area that we are currently also looking to expand.”

“Ferrostaal is valued globally as an experienced and reliable partner in project development of private and government owned industrial plants. As part of the new joint venture we not only benefit from this position, but also from Ferrostaal’s access to attractive project financing and an organization with a strong global network of companies in key target markets,” Clausen added.

Adapted from press release by Rosalie Starling

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