Japan's Mitsui Engineering & Shipbuilding Co. Ltd. (MES) plans to expand its engineering business, including the floating production segment, as part of its current business plan, a senior company executive said Tuesday.
"This year, we will further increase cooperation with our subsidiary MODEC to target the FPSO (floating production, storage and offloading) topside module market," MES President and CEO Takao Tanaka said in his New Year's 2016 Greetings to the company.
MODEC, Inc. is a general contractor specializing in engineering, procurement, construction and installation of floating production systems, including FPSO vessels, floating storage and offloading vessels, tension leg platforms, production semisubmersibles, floating liquefied natural gas (FLNGs) and mobile offshore production units.
MES is keen to expand its engineering business, which "entails enhancing and expanding our competitiveness in the EPC (engineering, procurement, and construction) domain ... to create a platform that will stabilize our profit and drive medium- and long-term profits," Tanaka added.
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