Citec Acquires New Oil and Gas Competence

NAVI MUMBAI, India, April 5, 2013 /PRNewswire/ --

Akilea Engineering Strengthens Citec's Position Within the Oil and Gas Industry

Citec is strengthening its competence and offering within the oil and gas segment by acquiring the French oil and gas engineering consultancy Akilea Engineering. Akilea designs offshore platforms, oil refineries, pipelines and power plants. The company's service offering includes engineering, procurement, construction and project management. "This acquisition is a very concrete and swift enhancement of our wide offering for the energy industry. Akilea also reinforces Citec's French operations and increases the critical mass in the local market," says Martin Strand, CEO of Citec.

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Akilea, located in Paris, France was founded in 2008 by Mr. Daniel Benayoun, the main owner and Managing Director of the company. He will continue as the Managing Director of Akilea after the acquisition. "Being part of Citec Group enables Akilea to continue its growth and engage in larger client projects. In addition, Citec together with Akilea forms an experienced and competitive outsourcing partner for Akilea's clients," says Mr. Benayoun.

Akilea has a solid customer base consisting of international companies such as Technip, Saipem, Foster Wheeler, Jacobs, Total France, EDF and Alstom.

"As a part of our growth strategy, we aim to focus specially on oil and gas. The oil & gas competence synergy of Citec and Akilea has definitely taken us a step closer to our strategic vision," says Nasir Mulani, Managing Director, Citec India.

For information about Akilea, log on to http://www.akilea.com/

About Citec

Citec provides multi-discipline engineering and information management services to the energy and power industry, and other technology-dependent industries. The number of employees of Citec currently amounts to approximately 1100 and the turnover for 2012 was about 66 million Euros. Citec is headquartered in Vaasa, Finland, and has offices in Finland, India, Sweden, the UK, France, Germany and Russia.

In India, Citec has offices at Mumbai, Bangalore and Chennai contributing to an employee count of approximately 400.

To know more, check our website http://www.citec.com/

Primary Media Contact: Vinita Darole, [email protected], 91-9819085169