Alpiq takes over service provider for petrochemical industry in Eastern Europe

Lausanne - The Alpiq subsidiary Kraftanlagen Gruppe has acquired the Romanian engineering company IPIP. In doing so, Alpiq is expanding its service offering as a general contractor for the chemical and petrochemical industry. In addition, Alpiq is reinforcing its market position in engineering.

Kraftanlagen München GmbH, a company of the Alpiq Group, has concluded a sales contract for the acquisition of IPIP S.A., headquartered in Ploiesti. IPIP has approx. 150 employees and is a renowned service provider in engineering and project management for infrastructure in the oil processing industry. The range of services includes consulting, concepts and feasibility studies, cost calculations, as well as project planning and management.

The acquisition follows Alpiq’s strategy to geographically expand market presence in the energy services sector and to make targeted investments in growth fields. With the acquisition of IPIP, Alpiq is broadening its service offering as a general contractor for the chemical and petrochemical industry and reinforcing its market position in engineering.  The closing for the purchase of IPIP S.A. is subject to the fulfilment of conditions precedent. The parties have agreed not to disclose details regarding the sales price.

Central and Southeastern Europe has been an important market for Alpiq for over a decade. Alpiq is the number one in cross-border trading in this region. In addition, Alpiq operates its own power plants in the Czech Republic, Hungary and Bulgaria and supplies traffic solutions to customers in this region.