MILAN, Italy – Prysmian Group has agreed to acquire 100% of Gulf Coast Downhole Technologies (GCDT). Closing is expected once certain conditions are met.
Prysmian said GCDT fits into its expansion strategy in the business of subsea umbilicals, risers and flowlines (SURF), and complements its Draka-branded DHT offered product range.
Prysmian expects the acquisition of GCDT will further differentiate its product offer, namely thanks to an enhanced portfolio of protectors and the patented Safety-Strip technology for faster and safer installation of intelligent completion systems.
With the acquisition of GCDT, the Prysmian Group through its brand Draka will grow closer to its customers by shifting from a pure subcomponent supplier to offering a suite of package solutions to its service sector clients.
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