Draft:UTC Engenharia
Brazilian engineering and construction company
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UTC Engenharia S.A. is a Brazilian engineering and construction company. Founded in 1974, it has historically operated in industrial assembly, oil and gas, refining, petrochemicals, offshore platforms and infrastructure, and is controlled by UTC Participações.[1][2] Company materials describe a history of more than 1,000 contracts in a range of engineering and industrial segments.[1][3]
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Last edited by Bearcat (talk | contribs) 2 seconds ago. (Update) |
| Company type | Subsidiary |
|---|---|
| Industry | Engineering, construction |
| Founded | 1974 |
| Founder | Ultra group |
| Headquarters | , Brazil |
Area served | Brazil |
| Parent | UTC Participações |
| Website | www |
History
According to UTC Participações, UTC Engenharia was founded by the Ultra group as an in-house assembly arm for projects in petrochemicals and oil and gas, later expanding to serve the wider Brazilian market.[2] The same corporate history states that the company belonged briefly to the OAS Group in 1996 before a management buyout transferred control to its current shareholders.[2]
The group diversified over the following decades. UTC Participações says it founded UTC Desenvolvimento Imobiliário in 2006, acquired Constran, Cobrazil and Mape in 2010, and in 2012 participated in the consortium that won the concession for Viracopos International Airport. It also says the group began work connected with the concession for São Paulo Metro Line 6 in 2012.[2] In 2016, the group adopted a segmented corporate structure under UTC Participações to organize its different business areas.[2] Since 2018, UTC Engenharia has focused on the oil-and-gas and petrochemical segment.[1][4]
Operations
UTC describes its activities as including project conception and management, EPC contracts, basic and detailed engineering, procurement, electromechanical assembly, modularisation, industrial construction and fuel-processing and terminal works.[4][1][3] Company materials identify operating yards in Niterói and Macaé in Rio de Janeiro state, as well as an equipment division in Mogi das Cruzes, São Paulo state.[4][3]
Selected projects
UTC's published project summaries list work at Petrobras refineries including Alberto Pasqualini (REFAP), Presidente Getúlio Vargas (REPAR), Henrique Lage (REVAP), Paulínia (REPLAN) and Capuava (RECAP).[5] In offshore oil and gas, UTC's English-language corporate presentation highlights contracts involving Carapeba III, P-25, P-47, P-53, P-55, P-59 and P-60, as well as module construction for platforms such as P-43, P-48, P-57, P-58, P-62 and P-56.[3]
UTC was also part of the Angramon consortium contracted for electromechanical assembly at the Angra 3 nuclear plant. Reuters identified UTC as the lead company in that consortium in 2015.[6] In the hydroelectric sector, Renewable Energy World reported in 2017 that UTC Engenharia and its subsidiary Constran had completed an earlier contract at the São Manoel hydropower plant before the remaining civil works were re-awarded to another builder.[7]
Operation Car Wash and restructuring
UTC Engenharia became one of the construction firms implicated in Operation Car Wash. In November 2014, Ricardo Pessoa, then president of UTC, was arrested in a major phase of the investigation, and Reuters reported in December 2014 that prosecutors had charged executives from UTC and other engineering companies in the alleged Petrobras cartel scheme.[8][9]
In 2015, Reuters reported that prosecutors investigating alleged bid rigging at Angra 3 named UTC among the engineering firms suspected of colluding in the tender.[10] Reuters also reported in 2017 that prosecutors alleged former Brazilian president Fernando Collor had taken bribes to help UTC and other firms obtain contracts at BR Distribuidora.[11]
As the scandal affected the Brazilian construction sector, UTC renegotiated debt with banks in early 2016.[12] In September 2015, Reuters reported that a Fortress-led group had offered to buy UTC's stake in the consortium operating Viracopos airport.[13]
On 10 July 2017, UTC Engenharia signed a leniency agreement with the federal government under which it agreed to pay 574 million reais for fraud related to 29 contracts with state-owned companies, including Petrobras and Eletrobras.[14] A week later, Reuters reported that parent company UTC Participações had filed for judicial recovery to restructure 3.4 billion reais in debt.[15] OECD publications on Brazilian competition enforcement later cited UTC as one of the companies that reached settlements with CADE in investigations arising from Operation Car Wash and the Angra 3 bid-rigging case.[16][17]