Hunting PLC (“Hunting” or “the Company” or “the Group”) Expansion of Strategic Partnership
19 Setembro 2024 - 3:00AM
Business Wire
Hunting PLC (LSE:HTG), the global precision engineering group,
is delighted to announce the expansion of their strategic
partnership with CRA Tubulars B.V. ("CRA"), a Dutch innovator in
advanced composite tubing. This enhanced collaboration underscores
both companies' commitment to advancing the development and
commercialisation of Titanium Composite Tubing ("TCT") technology,
as part of Hunting’s strategic growth ambition to develop energy
transition markets, including carbon capture and storage
opportunities.
TCT technology offers significant well design and enhanced
performance benefits to operators compared to conventional
corrosion resistant alloy tubing, especially for carbon dioxide
storage wells and highly corrosive oil and gas well
completions.
In August 2024, Hunting made a strategic financial investment in
CRA to support the development and commercialisation of TCT. In
addition to North America, the partnership's exclusive territory
will expand to cover the entire European region, including all EU
member states, the United Kingdom, Iceland, Norway, and
Switzerland. This move solidifies Hunting’s and CRA's joint efforts
to introduce TCT to new markets and customers across Europe.
In addition to financial support, Hunting will provide CRA with
vital technical assistance, including the option of applying
Hunting's industry proven premium connection technology to TCT
pipe, engineering and test lab support, and proven expertise to
implement a robust quality management system. Hunting will also
support CRA’s marketing efforts in Europe and North America,
helping to accelerate the adoption of TCT technology.
This expansion of the original agreement announced in July 2023,
reinforces both parties' commitment to complete the successful
development and commercialisation of TCT.
Notes to Editors:
About Hunting PLC
Hunting is a global, precision engineering group that provides
precision-manufactured equipment and premium services, which add
value for our customers. Established in 1874, it is a listed public
company, quoted on the London Stock Exchange in the Equity Shares
in Commercial Companies (“ESCC”) category. The Company maintains a
corporate office in Houston and is headquartered in London. As well
as the United Kingdom, the Company has operations in China, India,
Indonesia, Mexico, Netherlands, Norway, Saudi Arabia, Singapore,
United Arab Emirates and the United States of America.
The Group reports in US dollars across five operating segments:
Hunting Titan; North America; Subsea Technologies; Europe, Middle
East and Africa (“EMEA”) and Asia Pacific.
The Group also reports revenue and EBITDA financial metrics
based on five product groups: OCTG, Perforating Systems, Subsea,
Advanced Manufacturing and Other Manufacturing.
Hunting PLC’s Legal Entity Identifier is
2138008S5FL78ITZRN66.
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Hunting PLC Tel: +44 (0) 20 7321 0123 or
lon.IR@hunting-intl.com
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