Company Services Swiss (CSS) and Drafinsub are forming a merger to create a synergetic hub worth €65 million ($71 million) for integrated services related to infrastructures and underwater pipelines, covering pre-installation inspections, installation, maintenance, testing, and commissioning.

CSS is a Swiss company specialising in producing and installing polyurethane field joint coatings for marine contractors and offshore structures, while Drafinsub is an Italian company specialising in underwater operations in shallow and deep waters for both onshore and offshore sectors.

Following the merger and consolidation of the shares of the two companies, 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.

Fabio Valentini, currently CEO of CSS, will serve as Chairman of the holding company, Gianluca Passeri, currently CEO of Drafinsub, will become Managing Director and Walter D'Aniello will take on the role of General Manager.

'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,' explains Fabio 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 $1 billion worldwide. Our objective is to achieve €100 million in sales over the next three to five years, growing internally as well as considering possible further acquisitions within the sector,' he adds.