VINCI takes a majority stake in GEOSTOCK, leader in underground hydrocarbon storage
23 October 2012 - Acquisitions
ENTREPOSE Contracting, the VINCI subsidiary specialising in the design and construction of industrial projects in the oil and gas sectors in particular and the energy and environmental sectors in general, has signed a preliminary agreement with TOTAL to increase to 90% its stake in the capital of GEOSTOCK, leader in underground storage facilities for liquid and gaseous hydrocarbons. The operation requires authorisation by the competition authorities, notably in Germany.
With consolidated revenues of €83 million in 2011, GEOSTOCK is active in 26 countries and has a prestigious customer portfolio covering design, project management and operation of underground storage facilities in France and internationally.
This investment strengthens the range of services Entrepose Contracting offers to its clients in the oil and gas sectors, in low-carbon energies including geothermal energies and in CO2 capture.
About ENTREPOSE Contracting (www.entrepose.fr): ENTREPOSE Contracting is a VINCI subsidiary specialising in the design and construction of complex industrial projects in the oil and gas sectors in particular and the energy and environmental sectors in general. From creating transport and storage solutions to delivering turnkey projects, the Group is constantly developing its expertise in contracting and project management in sensitive environments. ENTREPOSE Contracting places particular emphasis on standards compliance in terms of Quality, Health & Safety and Environmental Management (QHSE accreditations) and possesses unique know-how enabling it to meet the most stringent requirements at the highest level of performance.
About GEOSTOCK (www.geostockgroup.com): Geostock is an international engineering group and a key player in underground storage of liquid, liquefied and gaseous hydrocarbons. Founded in 1965, the company has acquired unique know-how in its field. Whatever the products stored or the techniques used, Geostock's industry expertise enables it to provide quality services and solutions at the forefront of technology. Geostock can rely on its network of companies to propose a global offer covering the whole of the underground storage chain (consulting, engineering and operations), but also a targeted offer tailored to the needs of the customer, whom we support from the start of their project.
VINCI is a global player in concessions, construction and energy businesses, employing more than 217,000 people in some 100 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.