Maire Tecnimont S.p.A. announces the acquisition of the remaining 25% of the International Rome based Process Engineering firm Technip KTI S.p.A. from Technip Italy, the Italian subsidiary of the French Group Technip, through KTI Management. KTI Management S.p.A., which already held a 75% stake, now owns 100% of Technip KTI’s share capital.

The price paid for the acquisition of the remaining 25% of Technip KTI S.p.A. amounted to €20 million and has been financed through medium-long term financing. Following this transaction, Technip KTI S.p.A. will change its name into Tecnimont KT S.p.A..

It is to be noted that KTI Management S.p.A. is 80% controlled by Sofipart S.r.l., which in turn is 100% owned by Maire Tecnimont S.p.A. Furthermore, Maire Tecnimont has already formalised some agreements for the purchase of the remaining 20% of KTI Management from other industrial shareholders; the whole transaction is expected to be completed by July 2010. The acquisition confirms the industrial growth strategy undertaken by Maire Tecnimont Group in the Oil, Gas & Petrochemicals business.

The Group intends to leverage on Technip KTI S.p.A.’s core competences, including its proprietary technologies of Sulphur Recovery, hydrogen and syngas production, high temperature furnaces as well as its Research and Development activities.

Maire Tecnimont will fully consolidate KTI Management S.p.A. and Technip KTI S.p.A. starting from 1 May 2010.