Switzerland-headquartered Company Services Swiss (CSS SA) and Italy’s Drafinsub have initiated a merger process that will see the establishment of a synergetic hub for integrated services concerning infrastructures and underwater pipelines.
Following the merger and consolidation of the companies’ shares, a new holding company named CSS Drafinsub Holding is established.
The holding company is headquartered in Chiasso, Switzerland, with operating bases in Italy in Genoa, Castelnuovo Bocca d’Adda and Sicily, as well as in Malaysia’s Johor, Abu Dhabi and Dubai in the UAE, and in Mexico City.
Current CEO of CSS SA Fabio Valentini will serve as Chairman of the holding company, current CEO of Drafinsub Gianluca Passeri will become Managing Director and Walter D’Aniello will take on the role of General Manager.
The merger will establish a synergetic hub, worth €65 million in sales, for integrated services concerning infrastructures and underwater pipelines, ranging from pre-installation inspections, installation and maintenance, all the way to testing and commissioning of facilities.
“This integration propels CSS and Drafinsub’s subsea services into an international dimension, covering the entire spectrum of underwater services in port areas, dam basins and offshore. It provides extraction companies with the opportunity to engage with a single point of contact for all aspects related to the construction and management of marine pipelines,” said Valentini .
“The merger positions us well to preside over key areas of the Mediterranean, the North Sea, the Baltic Sea, the Middle East and West Africa within a rapidly expanding market valued at approx. USD 1 billion worldwide. Our objective is to achieve EUR 100 million in sales over the next three to five years, growing internally as well as considering possible further acquisitions within the sector.”