TechnipFMC: completes acquisition of Magma Global
(CercleFinance.com) - TechnipFMC announced last night that it haz completed the acquisition of UK-based Magma Global, a manufacturer of high-strength carbon fiber pipes.
The engineering group - which took its first stake in Magma in 2018 - says it wants to combine its flexible pipes with the company's carbon composites to offer innovative products for the historic energy sector, but also for renewable energy specialists.
Magma has developed thermoplastic composites that are resistant to the most corrosive compounds, such as CO2.
The idea is therefore to use its expertise for the transport of CO2 or the storage of green hydrogen.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The engineering group - which took its first stake in Magma in 2018 - says it wants to combine its flexible pipes with the company's carbon composites to offer innovative products for the historic energy sector, but also for renewable energy specialists.
Magma has developed thermoplastic composites that are resistant to the most corrosive compounds, such as CO2.
The idea is therefore to use its expertise for the transport of CO2 or the storage of green hydrogen.
Copyright (c) 2021 CercleFinance.com. All rights reserved.