Japan’s MODEC has embarked on a strategic merger of its wholly owned companies, MODEC America and SOFEC, to create an integrated mooring solutions business unit and strengthen global offerings.
This merger, which is slated to be effective on January 1, 2026, will fully integrate SOFEC into the MODEC Group as the new Mooring Solutions Business Unit that will maintain its commitment to the wider offshore market.
The new unit will continue to provide SOFEC-branded mooring solutions for clients other than MODEC, ensuring the continuation of the same quality, performance, and reliability that these mooring systems have delivered for over 50 years.
Commenting on this merger move, Hirohiko Miyata , MODEC’s Group President and CEO, highlighted: “This strategic merger will allow the MODEC Group to provide an integrated project team to supply floating facilities with SOFEC mooring solutions to their clients, while enabling the Mooring Solutions Business Unit to support other floater providers with SOFEC-branded mooring solutions that deliver added value.”
The integration of the two companies, which have progressed together since 1988, is said to further solidify a long-standing and successful partnership, marking a significant step toward strengthening the firm’s foundation as a “global leading player connecting the ocean and people,” enabling it to contribute to society through the company’s distinctive floating solutions.
The Japanese player added: “As an industry leader, MODEC has over half a century of experience and a strong track record, having delivered more than 50 floating production solutions for offshore oil and gas projects worldwide.
“In support of these projects, SOFEC, renowned for its cutting-edge permanent mooring systems and fluid transfer technologies, has supplied mooring systems for a total of 49 FPSOs/FSOs built by MODEC, including four currently under construction.”
This merger comes months after the company picked Eld Energy to handle the design and manufacture of a solid oxide fuel cell (SOFC) system pilot unit destined for installation on one of the Japanese player’s floating production, storage, and offloading (FPSO) units.