 In 2012, Technip, a French engineering conglomerate, agreed to purchase most of the Energy and Chemical Division of Shaw Group Technip announced on August 31, 2012, the completion of the acquisition of Stone & Webster process technologies and associated oil and gas engineering capabilities, as a new business unit of Technip.Technip paid cash consideration of about €225 million from existing cash resources, which was subject to customary price adjustments.This transaction was originally announced on May 21, 2012.