Insituform Technologies, Inc. announced creation of two joint ventures with Wasco Energy Ltd., a subsidiary of Wah Seong Corp. Berhad, in Kuala Lumpur, Malaysia and a leading provider of pipe coating, insulation and protection services to the oil and gas industries.
The first joint venture, Bayou Wasco Insulation Technologies, LLC, which will be based in New Iberia, LA, will provide offshore insulation services, primarily to customers in the United States, the Gulf of Mexico, Central America and the Caribbean. The joint venture is owned 51% by Insituform and 49% by Wasco. Bayou Wasco Insulation will provide customers a full complement of thermal insulation coating services for offshore flow assurance including poly-urethane foam and syntactic poly-propylene. The facilities are expected to be operational by early 2012.
The second joint venture, WCU Corrosion Technologies Pte. Ltd., will be based in Singapore and provide the product and service offerings of Corrpro Companies and United Pipeline Systems, each an Insituform subsidiary, throughout Asia. WCU Corrosion Technologies will be owned 51% by Wasco and 49% by Insituform. The joint venture is expected to immediately begin marketing its products and services.