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Insituform Technologies Inc. and Malaysian coated-pipe giant Wasco Energy Ltd. are teaming up to provide offshore insulation services in North America and extend Insituform’s corrosion and pipeline offerings across Asia.
Insituform announced Monday (April 25) that it had formed two joint ventures with Kuala Lumpur-based Wasco, a subsidiary of Wah Seong Corporation Berhad. The company is the world’s second-largest provider of pipe coating, insulation and protection services to the oil and gas industries.
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Wasco Energy |
| Wasco’s Pipe Coating Division offers a range of protective and flow-assurance coatings for the oil, gas and water industries. |
Insituform provides technologies and services for rehabilitating sewer, water, energy and mining piping systems and the corrosion protection of industrial pipelines worldwide.
Bayou Wasco Insulation
The first joint venture, Bayou Wasco Insulation Technologies LLC, was organized to provide offshore insulation services to customers in the United States, the Gulf of Mexico, Central America and the Caribbean.
The venture—owned 51% by Insituform and 49% by Wasco— “combines Wasco's expertise in the insulation market with the operational, sales and logistics capabilities of The Bayou Companies LLC,” an Insituform subsidiary, the company said.
Based in New Iberia, LA, Bayou Wasco Insulation will provide energy customers with a range of thermal insulation coating services for offshore flow assurance, including polyurethane foam and syntactic polypropylene. The facilities are expected to be operational by early 2012.
WCU Corrosion Technologies
The second joint venture, WCU Corrosion Technologies Pte. Ltd., will be based in Singapore and provide the products and services of Corrpro Companies and United Pipeline Systems throughout Asia. Corrpro and United Pipeline are both Insituform subsidiaries.
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Insituform Technologies |
| The new WCU Corrosion Technologies will provide the products and services of Corrpro Companies and United Pipeline Systems to Asia. |
Corrpro provides an integrated line of corrosion protection products and services in North America, Europe and the Middle East. The company recently announced the appointment of executive vice president and chief engineer David H. Kroon as president.
United Pipeline provides high-density polyethylene (HDPE) lining systems, including Tite Liner and Safetyliner, for internal pipeline protection. Owned 51% by Wasco and 49% by Insituform, WCU will combine the products and services of Corrpro Companies and United Pipeline with Wasco’s operational, sales and logistics capabilities in Asia, the companies said.
The joint venture is expected to immediately begin marketing its products and services.
‘Tremendous Opportunity’
“Wasco's technical expertise in the insulation market complements Bayou's long-standing expertise and relationships in the coatings industry,” said J. Joseph Burgess, President and CEO of Insituform.
“In addition, Bayou’s strategic location in the Port of Iberia, Louisiana, brings tremendous opportunity to the joint venture to market and ship insulation orders throughout the Gulf and to Central America and the Caribbean. We are confident that these joint ventures will strengthen and expand our energy and mining platform in these important growth markets.”
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