M&As: Mitsui acquires 100% shares of pipeline provider; Advanced Biochemical Thailand transfers to parent company AGC Vinythai

M&As: Mitsui acquires 100% shares of pipeline provider

Mitsui & Co Ltd has executed a share purchase agreement to acquire 100% of the issued shares of STATS (UK) Ltd, a company which manufactures proprietary energy pipeline repair equipment and provides engineering services worldwide. The acquisition will be completed in the summer of 2023 after the necessary approvals have been obtained. Terms were not disclosed.

Founded in 1998, STATS currently has operations in nine countries. As a global player in the field of pipeline repair equipment manufacturing and engineering services, STATS excels in the servicing of large-diameter, high-pressure pipelines, which requires advanced technical capabilities unique to STATS. The company has carried out numerous projects for major national and international energy companies and pipeline operators in many countries worldwide.

Within the context of creating a circular economy, demand to prolong the life of ageing energy pipeline infrastructure through maintenance and repair is expected to continue to grow. While at the same time, within the framework of energy transition, the necessity to convert existing pipeline infrastructure to the supply of hydrogen, and the capturing, transportation and storage of carbon dioxide (CCS) is required to support a decarbonized society. STATS is uniquely positioned to provide their products and services to support these initiatives.

“With STATS’ position as a market leader in the global energy industry, we are confident that this acquisition will strengthen Mitsui’s business processes and provide new opportunities for growth in the areas of Carbon Capture and Storage (CCS) and hydrogen,” said Koichi Fujita, COO of Mitsui’s Iron & Steel Products Business Unit. “We will also leverage our network and expertise to maximise STATS’ growth potential and achieve market acceleration for sustainable infrastructure maintenance. Strategically, the acquisition will help progress Mitsui’s Medium-term Management Plan for transformation and growth, and play a pivotal role in realizing our mission of addressing key issues of today to build brighter futures, everywhere.”

Mitsui will leverage the industry knowledge, their partner and client base as well as its robust global network across the entire energy value chain to support the continued expansion of STATS’ products and services offering. Through the equipment and services provided by STATS, Mitsui will also work to further strengthen the value chain for its existing upstream energy interests in the areas of CCS and hydrogen.

In other news, a year after launching the new Epinity brand, Advanced Biochemical (Thailand) or ABT is stepping forward to be more efficient in providing services and cooperation with its customers and business partners. The ABT business is completely transferring to its parent company, AGC Vinythai Public Company Limited, on 3rd July, 2023.

As AGC Vinythai Public Company Limited already owned 100% of ABT shares, this is an administrative change. It will not affect the day-to-day running of the Epinity (bio-based Epichlorohydrin) business.

“This transition will not affect our product, its quality specification, our facilities or our work as we continue to build Epinity in the market and ultimately replace petro-based Epichlorohydrin,” said Masayoshi Namba, Managing Director, Advanced Biochemical (Thailand) Company Limited.

“ABT has been producing bio-based Epichlorohydrin for over 11 years at our site in Thailand. Integrating with AGC Vinythai will make our service even more efficient and effective in the future,” said Kazuaki Koga, Managing Director, AGC Vinythai.


Subscribe to Get the Latest Updates from PRA  Please click here

©2023 Plastics and Rubber Asia. All rights reserved.

©2023 Plastics and Rubber Asia. All rights reserved.

Home Terms & Conditions Privacy Policy Webmail Site Map About Us


Contact Us Register Subscribe


Instagram icon