Wah Seong Corporation Bhd and Singapore-based Insituform Technologies Bhd has set up two joint venture companies, via their respective units, to venture into thermal insulation and
related businesses.

Firstly, Wah Seong's unit, Wasco Coating UK Ltd, will set up a joint company with Insituform EandM Holding Company, LLC, named Bayou Wasco Insulation Technologies, LLC, the company said in a filing to Bursa Malaysia today.

Bayou Wasco Insulation's intended business is the application of thermal insulation coating products to pipes or pipelines for projects located mainly in the United States, Gulf of Mexico, Central America and the Carribean Islands.

The second joint venture will be between Wah Seong's Wasco Coating UK Ltd and Insituform Technologies Netherlands BV to form WCU Corrosion Technologies Pte Ltd.

WCU Corrosion Technologies will line new and existing pipelines and passageway with corrosion and abrasion resistant polyethylene pipes.

It also intents to be involved in onshore corrosion protection services, including engineering services, construction, installation, inspection, monitoring and maintenance and related product sales, said the company.

It is eyeing projects located in Australia, Brunei, Cambodia, China, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam and their respective territories and territorial waters.

WCU Corrosion Technologies is expected to immediately begin marketing its products and services, the statement added.

The joint ventures are expected to contribute positively to the company's future earnings. - Bernama