Technip Divests Perry Slingsby Systems

Technip has sold all of the capital of PSS Ltd and PSS Inc.--two companies that manufacture subsea remotely operated vehicles (ROV) and other subsea equipment--to Triton Group Holdings, which is an affiliate of the private equity company SCF Partners.

With main facilities in Kirkbymoorside, UK and in Jupiter, Fla., these companies employ a total of about 300 people. Their global revenues in 2006 announced to, around EUR 70 million in 2006, coming for the most part from clients outside the Technip group.

Details of this transaction will be communicated on February 22nd, with the release of Technip's 2006 results.

With a workforce of 22,000 people, Technip ranks among the top five corporations in the field of oil, gas and petrochemical engineering, construction and services. Headquartered in Paris, the Group is listed in New York and Paris.

The Group's main operations and engineering centers and business units are located in France, Italy, Germany, the UK, Norway, Finland, the Netherlands, the USA, Brazil, Abu-Dhabi, China, India, Malaysia and Australia.

In support of its activities, the Group manufactures flexible pipes and umbilicals, and builds offshore platforms in its manufacturing plants and fabrication yards in France, Brazil, the UK, the USA, Finland and Angola, and has a fleet of specialized vessels for pipeline installation and subsea construction.