LOOKING FORWARD

NEXT CHAPTER

ANNUAL REPORT 2022

LOOKING FORWARD

NEXT CHAPTER

ANNUAL REPORT 2022

MESSAGE FROM THE CEO

MESSAGE FROM THE CEO

The positive trend of Company order intake in 2022, exceeding 115Ml€, represents the clear evidence of this development journey in particular in the new sectors of Offshore Wind & Floating Wind, Cranes and Gas Turbine’s hot gas path components.

Remazel has proven indeed to be able to emerge rapidly gaining an outstanding track record of high-level projects, while rising at the same time Company know-how and customers portfolio.

Once again, the major credit for Remazel achievements and my most heartfelt thanks goes to our people all, for their professionality and openness in facing and react to different situations coming both from market contingencies and new challenges.

Only a strong determination in supporting the Energy Transition, allowed us to deal with pioneering projects by delivering innovative engineering solutions.

Dear Shareholders,

in 2022 Remazel has confirmed once again its growing path by recording a 40% increase in revenues respect to 2021, thus consolidating Company’s market positioning at the forefront. This result reflects both our ability to manage projects on a variety of scales and our capacity to do it in different Markets in the Offshore and Power Generation landscape.

The positive trend of Company order intake in 2022, exceeding 115Ml€, represents the clear evidence of this development journey in particular in the new sectors of Offshore Wind & Floating Wind, Cranes and Gas Turbine’s hot gas path components. Remazel has proven indeed to be able to emerge rapidly gaining an outstanding track record of high-level projects, while rising at the same time Company know-how and customers portfolio.

The increase in successfully delivered projects has consequently contributed to the continuous growth of the Service & After Sales, which in three years has tripled its Sales volumes and which now represents a standalone business unit.

Today Remazel is a stronger Company, thanks also to the consolidation of his diversification process; for this reason, in June 2022 the BoD agreed to pay a relevant dividend to Company’s Shareholders, while continuing granting a solid financial structure able to fully sustain Company growth over the years.

2022 performance is in line with budget forecasts, affected by the difficulties faced since end 2021 related to materials costs increase and “supply chain disruption”, both economic phenomena strictly linked to market inflation and Russian-Ukrainian conflict. The latter, forced us to take the hard decision to suspend our business relationship with Russia and to consequently decide to liquidate our local branch in Saint Petersburg; these measures have clearly impacted Company budget.

However, we promptly faced this uncertain situation reinforcing our supply chain in Europe and worldwide, in particular in China, thanks also to the presence of Remazel Asia team. Meanwhile, we reinforced our in-sourcing strategy by taking advantage from Remazel Shipyard area, were is also based REMAC srl, Remazel-Cartubi JV, engaged in big-sized manufacturing activities.

The Contracts acquired in end 2022 and in 2023 QI highlights the rising in margins in line with the previous years that, together with the experience gained in the global market, provide us the necessary means to face international market challenges and uncertainties.

Our business plan is firmly based on the actual order intake in Energy Transition landscape, as proof of the trust that the market is recognising to Remazel. Our team has indeed demonstrated to be able to achieve goals by continuously improving their performances, thanks to their expertise, teamwork and result-oriented approach.

Consistently with our corporate values and organization model guidelines, our attention to employees well-being and territory needs still remain our first commitment and today we are ready to measure and improve our actions within Company’s ESG path. At this regard, thanks to the engagement and contribution of Remazel Top Management and Employees all, we have clearly identified our priorities and we are ready to outline our Sustainability Strategic Plan.

Once again, the major credit for Remazel achievements and my most heartfelt thanks goes to our people all, for their professionality and openness in facing and react to different situations coming both from market contingencies and new challenges. Only a strong determination in supporting the Energy Transition, allowed us to deal with pioneering projects by delivering innovative engineering solutions.

Then, a sincere thanks to our Shareholders and Stakeholders all, who continue to support Remazel and get passionate about our journey.

12 May 2023
Andrea Rosa

BOARD OF DIRECTORS

BOARD OF DIRECTORS

Chairman

CEO

Board Member

Board Member

Board Member

BOARD OF STATUTORY AUDITORS

Standing Auditor

Standing Auditor

Alternate Auditor

Alternate Auditor

Chairman

CEO

Board Member

Board Member

Board Member

BOARD OF STATUTORY AUDITORS

Standing Auditor

Standing Auditor

Alternate Auditor

Alternate Auditor

AUDITING COMPANY

Deloitte & Touche S.p.A.

SUPERVISORY BOARD

Attorney Delia Rielli

OUR GROUP

As a leading engineering and manufacturing Company in the Offshore and Energy sectors,
we strive to support our Customers in Energy Transition.

OUR GROUP

As a leading engineering and manufacturing Company in the Offshore and Energy sectors,
we strive to support our Customers in Energy Transition.

REMAZEL ENGINEERING S.p.A.
HEADQUARTERS
  • Chiuduno, Italy

The winning mix of engineering, project management, assembly & testing capabilities has now become our trademark. Our business history brings us to the offshore Oil&Gas and Gas Turbine sectors to reach even more extraordinary achievements in Offshore wind, Floating Wind and Offshore Heavy Lifting. However, our greatest value is still enclosed in our People, who work with passion and determination alongside our Customers towards a common goal.

REMAZEL ASIA Co., LTD
SOTTOTITOLO
  • Shanghai, China

Remazel’s main point of connection with Asia market for new business development, local supply chain management and quality control on manufacturing.

A keeping growing organization.

REMAZEL DO BRAZIL
Serviços de sistema Óleo & Gás LTDA
  • Rio de Janeiro, Brazil

Service and after sales are the main business of this local branch. The increasing network of qualified Technicians and partners is the result of many years of training activities and local development.

TRIESTE AREA

A strategic sea-front hub.

TRIESTE AREA

A strategic sea-front hub.

REMAZEL ENGINEERING (TRIESTE)
CRANES BUSINESS LINES
  • Trieste, Italy

Cranes and lifting systems design and construction for Cruise, Floating Wind and Industry applications, which acts as Remazel CRANES Business Unit.
(Formerly Concrane S.r.l)

REMAZEL SHIPYARD
quayside SITE
  • Trieste, Italy

A sea-front strategic area for assembly, testing and delivery integration.

REMAC S.r.l.
MANUFACTURING
  • Trieste, Italy

Remazel Engineering and Cartubi Shipyard Joint Venture focused on manufacturing, welding and assembly activities. A 2.500 sqm area with direct access to the quayside.

CORPORATE VALUES

Customer centricity, teamwork, continuous improvement.
This is our values winning mix.

CORPORATE VALUES

Customer centricity, teamwork, continuous improvement.
This is our values winning mix.

OUR MODEL

PROJECT
TEAM
QUALITY CONTROL,
ASSEMBLY
& TESTING
SERVICE &
AFTER SALES
ENGINEERING /
INDUSTRIALIZATION
PROJECT
MANAGEMENT

OUR PRIORITIES

HEALTH
& SAFETY
PEOPLE & TALENT
DEVELOPMENT
ORGANIZATION &
INTERNAL PROCESS
RESEARCH
& DEVELOPMENT

OUR GUIDELINES

SUSTAINABILITY
INTERNATIONALI
ZATION
ENERGY
TRANSITION

2022 RECAP

Getting ready for a new chapter of Energy history.

2022 RECAP

Getting ready for a new chapter of Energy history.

OFFSHORE (BLOWING)
WIND

The Energy framework has changed quickly over the last few years.

What we have learned by continuously adapting to changes, is not only to refer to energy market dynamics, but also to something that concerns us as a team. For example, our engineering capability has proven to be borderless and has been supported by successful production execution; the experience gained over the years in the Offshore environment has been essential to embrace adjacent sectors and to give our contribution to projects development; then, our mixed team of young and talented Engineers together with our Senior Managers is a key factor in our approach to projects.

The wind of change blows continually and we are learning how best to take advantage of it.

INTERNATIONAL MODEL: HERE, THERE, EVERYWHERE
Over these years made by changes, challenges and industry reshaping, we have continued to dream with our feet firmly on the ground. What we have only begun to imagine in 2021 turned into reality in 2022, with specific reference to
our international presence.

Then, Remazel Asia has become a reference point for our Chinese supply chain, while achieving great successes during the production phase of one of the most complex Project we have ever executed locally.

Looking forward to our near future we can only see an even more strong international network, made by the relationships, team and cooperators we have been able to build and passionate.

PEOPLE FOR IMPROVEMENT: LET’S MAKE IT HAPPEN
Organization, continuous improvements, internal process reinforcement: these have been our priorities in 2022. The key of the successes achieved up to now, reflects the determination of Remazel people, who provided their ideas and worked intensely to make them happen.

The attention paid to internal process has resulted in the identification of the WIT – Work Improvement Team who has the role to detect organization’s “weak areas” and work on them. At the same time, the Champions guys as “ambassadors” of improvement diffusion within the organization, have supported the WIT in providing new visions and improvement suggestions.

This approach to organization and internal process will be the basis for Company development and growth. Let’s make it happen.

ESG: AN OPPORTUNITY TO BE SHARED
2022 represented our very first step towards Environmental, Social and Governance journey which results in the release of the Sustainability Report referred to year 2021.

The awareness acquired over these years of intense work alongside our Customers in the Energy Transition context, has led us to a deep thinking about our role now and in the future. The results of this considerations clearly reflect our organization’s values and strategy, which are focused on Health and Safety preservation, talent attraction and development, communication transparency and equal opportunities.

The sustainable development of product’s design as well as the energy transition, will remain a guiding light in the years to come.

Our pragmatic approach is then making our commitment endorsed by all the levels of our organization, who have also contributed in the identification of Remazel ESG material topics.

A major step forward in sustainability will be done in the near future with the engagement of our stakeholders all and the shaping of our Sustainable Strategic plan.

ESG

 

HUMAN RESOURCES | HEALTH & SAFETY | SOCIAL RESPONSIBILITY | RISK MANAGEMENT

ESG

HUMAN RESOURCES | HEALTH & SAFETY | SOCIAL RESPONSIBILITY | RISK MANAGEMENT

HUMAN RESOURCES

Our People. Our Growth.

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OVERALL TRAINING HOURS
0
NEW CAREER PLANS SIGNED
0
NEW HIRES

HUMAN RESOURCES

Our People. Our Growth.

0
OVERALL TRAINING HOURS
0
NEW CAREER PLANS SIGNED
0
NEW HIRES

Organization
In mid 2022 the intense work done with the students of SDM (School of Higer Education) of the University of Bergamo has led us to a renewed organization structure who wants to enhance each Company Business Units and promote a new workgroup-based model:

  • WIT (Work Improvement Team): composed by Engineering Managers, Project Managers and Quality Assurance Manager working together on internal process improvements and Junior Engineers training;
  • CHAMPIONS: a group of people who have the role of supporting the Work Improvement Team in improvement diffusion within each department.

Training:
With respect to 2021, the training attention in 2022 has more than doubled. Within the most relevant training initiatives we would point out the ones dedicated to ESG topics, which took shape in 2022 through the first Sustainability Raising Awareness Workshop hosted and supported by the Innovation District Kilometro Rosso and ENEA, the Italian National Agency for New Technologies, Energy and Sustainable Economic Development.

ESG – Inspired Meetings

Within this landscape, dedicated training sessions was held in Cyber Security and Continuous Improvement with the support of Kaizen Institute; the main objective for the near future is to raise awareness of these topics, for a more in-depth insight into Company processes and sustainable path.

TRAINING AND PROFESSIONAL GROWTH HIGHLIGHTS:
“Skill matrix” trainig methos: a real tool for technical and soft skills assessment for Engineers and Project Managers.

Relations with Local institutions

University of Brescia
University of Bergamo
Technical and Professional Institutes (Bergamo)

The importance of fostering the cooperation with local Universities and Technical Institutes has grown significantly, until becoming one of the main topics of our HR strategy and approach.

As in previous years, in 2022 we took part of University of Brescia Career Day, where we met lot of brilliant new-graduates and one of them currently joins our team working on his graduation Thesis.

Then, the Agreement signed with the “Lombardy Higher Technical Institute for new mechanical and mechatronic technologies” for the activation of curricular training, is aimed at introducing young students in the mechanical field to the professional world.

People & Sustainability
In 2022, we have started on a voluntary basis a formal path towards Sustainable Reporting and in end 2022 we have been able to release our first Sustainability Report.

This represents a concrete achievement in the measurement and contribution to a much aware and fair business and we have identified our priorities in Social landscape which includes alongside Health, safety and security of employees and external workers, the development of people and attractiomn of talents, equal opportunities and non-discrimination, employees well-being and human rights, as well as the relationship with the local areas.

Within this framework, we still continue to promote small but impactful actions aimed at the enhancement of an inclusive working environment as well as the promotion of dialogue, culture and healnty habits.

HEALTH AND SAFETY

Health and Safety must be a priority at all levels of the organization.

HEALTH AND SAFETY

Health and Safety must be a priority at all levels of the organization.

During 2022, Remazel’s major efforts on HSE have been concentrated in Remazel Shipyard Area, with the aim to enhance the both the organization and the activities. Actually, the local team as well as the project workload have increased significantly, and a close attention to workers health and safety was needed.

Alongside with these operative provisions, the HSE team has worked on the alignment of the informatic management systems and on periodical training sessions. At this regard, a new method of training has been successfully tested and consolidated; this 30-minutes training break on-field have been useful for a better attention and diffusion of HSE best practices.

In 2022, the Company recorded no. 1 injury of low degree of severity.

Starting from 2022, in accordance with the Sustainability Path that Remazel has decided to pursue, the Health, safety and security of workers represents one of the priority material topic of the ESG landscape.

In this context, we are committed in strengthening our attention also on the Environmental aspects such as Energy consumption, Atmospheric emissions reduction, Waste management and Sustainable innovation and product design. A major attention to these topics is, today, mainly managed through Employees consciousness-raising with the aim to increase the engagement of Remazel supply chain and stakeholders all.

A deeper representation of Remazel HSE culture and activities are outlined in detail in our Sustainability Report 2022.

SOCIAL RESPONSIBILITY

SOCIAL RESPONSIBILITY

Develop and promote the relationship with our Territory is one of the pillars of Remazel Corporate culture. The pragmatic approach we aim to encourage within this landscape, deep its roots in the awareness that the Companies all can play an important role in the support and enhancement of local Institutions and facilities.

In early 2022, the tragic situation of the Ukrainian population caused by the Russia-Ukraine conflict, could not be ignored; the very first actions have been taken in Trieste (TS, Italy) area, where every day hundreds of people were crossing the border to find refuge and help. A collection point for basic necessities were promptly activated and thanks to the support of Remazel employees and cooperators we were able to contribute even if in small way to Fondazione Caritas Trieste call-for-action.

This prompt response could not be managed without the help and activity of our people and for this reason we deeply thank the goodness of Remazel team all.

Alongside these valuable and contingent actions, Remazel still continues to support and share new experiences with the social cooperative L’Impronta, a local Association based few kilometres far from Remazel HQ In Chiuduno (Bg), which is engaged in promoting social inclusion among youngsters affected by disabilities and fragilities.

0
VACATION HOURS DONATED
0
YOUNG MEN AND WOMEN SUPPORTED

“Through the active involvement of the local community, the intention is to offer also to people with fragilities, in particular young people, the opportunity to live as active citizens and, on the other hand, contribute to the growth of a more sensitive, attentive and responsible community towards all its members.”

L’Impronta team

Through this Project Remazel wants to reduce the gap between Company itself and the local community, by promoting the importance of cooperation and inclusivity. This principle has been the starting point of the “ESG-Inspired” workshop dedicated to Remazel employees and called “D&I – Company and Community, meet us halfway”, that will be held in May 2023 with the support of University of Bergamo, the social cooperative L’Impronta and the Botanic Garder of Chiuduno (BG).

At the end of the meeting, Remazel team will have the chance to experience the planting of pumpkins together with L’Impronta group.

RISK MANAGEMENT

RISK MANAGEMENT

Remazel is strongly committed to safeguard corporate assets and financial reporting reliability while improving internal processes and maintaining compliance with regulations and Group companies’ procedures.

Remazel believes that an adequate risk assessment and management can positively affect the achievement of the objectives and the value of the Group.

The Group’s organizational and management model involves, with different roles, the administrative bodies, the supervisory bodies, the control bodies, the management and all the staff, inspired by the principles contained in the Code of Ethics and national and international best practices.

Currently, risk analysis and management does not include an integrated assessment of ESG risks, but for the future Remazel is committed to their inclusion and monitoring.

However, ESG criteria and risks were substantially considered during the transition to the global offshore business.

The assessment of the different risks summarized below is constantly being reviewed and updated by Remazel:

  • Risk associated with extraordinary events outside Remazel’s control and company purposes.
    Such as, during 2022, risk associated with the impact of Covid-19 on Remazel’s activities, in particular the activities related to the production site in China, and the huge market disruption arising from the conflict in Ukraine (lately evolved on a world-wide scale). General and Special Terms and Conditions have been put on rediscussion in order to avoid application of liquidated damages and to review contractual prices, while COVID 19 remain timely and fully monitored considering eventual new needs arising from the evolution of the pandemic itself;
  • Risk associated with financial and market criticalities.
    Such as risk related to oil price trends, risk associated with fluctuation in working capital, risk associated with the volatility of economic and financial results. With specific reference to oil price, preparing estimates and settings prices are the result of an accurate, articulated and punctual exercise which the Group, within every department, continue to develop constantly;
  • Risk associated with the supply chain.
    Having considered the huge relevance and consistency of all main suppliers involved within Remazel’s projects, the risk of an uncompliant performance could become significatively negative. To avoid and/or reduce at the lowest possible level this kind of risk, Remazel has an organized qualification and selection system, improved new tools, settled various audits and training programs, shared Model 231 in full (accepted by suppliers), including the Code of Ethics.

ENERGY SOLUTIONS

ENERGY SOLUTIONS

OFFSHORE WIND
& FLOATING WIND
OFFSHORE HEAVY LIFTING
& SPECIAL HANDLING

SUBSEA &
RESEARCH
CRANES
SERVICE
& DIGITALS
GAS
TURBINES

OFFSHORE WIND
& FLOATING WIND
OFFSHORE HEAVY LIFTING
& SPECIAL HANDLING

SUBSEA & RESEARCH
CRANES
SERVICE & DIGITALS
GAS TURBINES
MAIN ACHIEVEMENTS

LES ALIZÉS

FLOATING HEAVY LIFT VESSEL

WE FEEL EXTREMELY PROUD ABOUT THE RESULTS WE ARE ACHIEVING, THANKS ALSO TO THE GOOD RELATIONSHIP ESTABLISHED WITH JAN DE NUL TEAM, WHO ENHANCED EVEN MORE OUR INTERNATIONAL EXPERTISE.

Fully automated monopile installation system for XXL Monopiles handling and installation.

Remazel team main Challenges:

  • Remarkable system dimensions for scaling-up and challenging lead-time
  • Critical supply chain management considering also mobilization restrictions to China

Final load tests to be performed directly on-board

SCOPE OF WORK:

  • 1 Upending hinge (UEH)
  • 2 Monopile skidding system (MSS)
  • 9 Seafastening cradles (SFC)
  • Hydraulic, electrical and software scope

CONSTRUCTION HIGHLIGHTS:

  • Detailed engineering developed by Remazel
  • Construction phase (steel works, castings, forgings and equipment assembly) carried-out by supply-chain in China
  • Hydraulic & electrical preliminary assembly managed in Remazel’s HQ (Italy)
  • Installation, commissioning and testing to be performed at ship-yard in Poland

This is one of the most outstanding Projects we have ever performed. Since the very beginning we set up a multi-disciplinary team of 30 engineers with hydraulic, software and mechanical skills in order to put together our know-how in the off-shore environment while, at the same time, our team in China was preparing for the construction phase who involved our local supply chain and more than 15 people engaged in management, supervision and inspection of the activities.

 We feel extremely proud about the results we are achieving, thanks also to the good relationship established with Jan De Nul team, who enhanced even more our international expertise.

Now we are focusing on the final stages of the project and we are committed to bringing it to success! We strongly hope to have the opportunity to continue cooperate with Jan De Nul on future opportunities.  

Project team

LES ALIZÉS

FLOATING HEAVY LIFT VESSEL

WE FEEL EXTREMELY PROUD ABOUT THE RESULTS WE ARE ACHIEVING, THANKS ALSO TO THE GOOD RELATIONSHIP ESTABLISHED WITH JAN DE NUL TEAM, WHO ENHANCED EVEN MORE OUR INTERNATIONAL EXPERTISE.

Fully automated monopile installation system for XXL Monopiles handling and installation.

Remazel team main Challenges:

  • Remarkable system dimensions for scaling-up and challenging lead-time
  • Critical supply chain management considering also mobilization restrictions to China

Final load tests to be performed directly on-board

SCOPE OF WORK:

  • 1 Upending hinge (UEH)
  • 2 Monopile skidding system (MSS)
  • 9 Seafastening cradles (SFC)
  • Hydraulic, electrical and software scope

CONSTRUCTION HIGHLIGHTS:

  • Detailed engineering developed by Remazel
  • Construction phase (steel works, castings, forgings and equipment assembly) carried-out by supply-chain in China
  • Hydraulic & electrical preliminary assembly managed in Remazel’s HQ (Italy)
  • Installation, commissioning and testing to be performed at ship-yard in Poland

This is one of the most outstanding Projects we have ever performed. Since the very beginning we set up a multi-disciplinary team of 30 engineers with hydraulic, software and mechanical skills in order to put together our know-how in the off-shore environment while, at the same time, our team in China was preparing for the construction phase who involved our local supply chain and more than 15 people engaged in management, supervision and inspection of the activities.

 We feel extremely proud about the results we are achieving, thanks also to the good relationship established with Jan De Nul team, who enhanced even more our international expertise.

Now we are focusing on the final stages of the project and we are committed to bringing it to success! We strongly hope to have the opportunity to continue cooperate with Jan De Nul on future opportunities.  

Project team

PROVENCE GRAND LARGE

FLOATING WIND PROJECT

SBM Offshore has awarded to Remazel the design and construction of Davit Cranes for one of the first European Project in Floating Offshore Wind: Provence Grand Large.

SBM Offshore is the developer of the complete floating systems for the project’s three 8.4MW offshore wind turbines, that will be located close to Port-Saint-Louis-du-Rhone (in the Mediterranean Sea), at 17 km off the coast, on a 100m deep site.

SCOPE OF WORK:
No. 3 fully electric Davit Cranes for lifting operations, which include the following:

  • Pedestal
  • Slewing bearings
  • Boom
  • Hoisting winch (powered by an electric motor)
  • Rotation resistant wire rope

TECHNICAL NOTES:

  • Fixed boom
  • Capacity: SWL = 0.75 t
  • Crane Outreach: 3.8 m
  • Manual slewing (280°)
  • Electrically powered.
  • Lifting Height: 42 m

PROVENCE GRAND LARGE

FLOATING WIND PROJECT

SBM Offshore has awarded to Remazel the design and construction of Davit Cranes for one of the first European Project in Floating Offshore Wind: Provence Grand Large.

SBM Offshore is the developer of the complete floating systems for the project’s three 8.4MW offshore wind turbines, that will be located close to Port-Saint-Louis-du-Rhone (in the Mediterranean Sea), at 17 km off the coast, on a 100m deep site.

SCOPE OF WORK:
No. 3 fully electric Davit Cranes for lifting operations, which include the following:

  • Pedestal
  • Slewing bearings
  • Boom
  • Hoisting winch (powered by an electric motor)
  • Rotation resistant wire rope

TECHNICAL NOTES:

  • Fixed boom
  • Capacity: SWL = 0.75 t
  • Crane Outreach: 3.8 m
  • Manual slewing (280°)
  • Electrically powered.
  • Lifting Height: 42 m

COMPLETE RISER PULL IN SYSTEM

FOR ONE OF SBM OFFSHORE’S ONGOING FPSO PROJECTS

THIS PROJECT REPRESENTS ANOTHER IMPORTANT MILESTONE IN THE COLLABORATION PATH BETWEEN REMAZEL TEAM AND SBM OFFSHORE, WORKING TOGETHER SINCE 2012.

SCOPE OF WORK:

  • Linear winch system,
  • N°2 Auxiliary winches
  • Auxiliary sheaves

TECHNICAL NOTES:

  • Linear winch pull capacity: 663 Ton
  • Auxiliary winch pull capacity: 300 Ton
  • HPU power: 780kW
  • Total RPS platform weight: ~525Ton

This Project represents another important milestone in the collaboration path between Remazel team and SBM Offshore, working together since 2012.

This Riser Pull in system in specific, is composed by two platform modules which accommodate the Linear Winch and HPU as well as the Storage Winch and two Auxiliary winches respectively.

The assembly and testing activities were performed in Remazel Shipyard area in Trieste (TS, Italy); this allowed to perform a full-capacity load test and to deliver the equipment directly from the quay side in November 2022.

Project team

COMPLETE RISER PULL IN SYSTEM

FOR ONE OF SBM OFFSHORE’S ONGOING FPSO PROJECTS

THIS PROJECT REPRESENTS ANOTHER IMPORTANT MILESTONE IN THE COLLABORATION PATH BETWEEN REMAZEL TEAM AND SBM OFFSHORE, WORKING TOGETHER SINCE 2012.

SCOPE OF WORK:

  • Linear winch system,
  • N°2 Auxiliary winches
  • Auxiliary sheaves

TECHNICAL NOTES:

  • Linear winch pull capacity: 663 Ton
  • Auxiliary winch pull capacity: 300 Ton
  • HPU power: 780kW
  • Total RPS platform weight: ~525Ton

This Project represents another important milestone in the collaboration path between Remazel team and SBM Offshore, working together since 2012.

This Riser Pull in system in specific, is composed by two platform modules which accommodate the Linear Winch and HPU as well as the Storage Winch and two Auxiliary winches respectively.

The assembly and testing activities were performed in Remazel Shipyard area in Trieste (TS, Italy); this allowed to perform a full-capacity load test and to deliver the equipment directly from the quay side in November 2022.

Project team

MOORING SYSTEM

FOR P-78 FPSO VESSEL

THE MOST EXCITING PHASE OF THE PROJECT THEN WAS FOR SURE THE TESTING PHASE, WHICH INCLUDED A COMPLETE RANGE OF STATIC AND DYNAMIC TESTS OF ALL THE SYSTEMS, AS WELL AS THE FULL-CAPACITY LOAD TEST ON THE FAIRLEADS.

Remazel provided complete engineering and construction of the Mooring System for P-78 FPSO Vessel.

The floater will be customised for deployment at the deep-water Buzios field.

SCOPE OF WORK:

  • 28 Fairleads complete with brackets
  • 28 Chain Stoppers
  • 4 Chain Jacks
  • 4 Motorized Sheaves
  • 4 Chain Lockers
  • 4 Auxiliary Winches
  • 4 Tugger Winches
  • 4 Pneumatic Towing Winches
  • 2 HPUs, each powered by 3 x 230 kW electric motors with electric panels

TECHNICAL NOTES:

  • All the equipments are suitable for hazardous area (Zone 2 IIA T3), except for the HPUs which are installed in safe areas.
  • Particular layout with the winches installed on the Chain Locker which skid along the balcony rails.

The detailed engineering of the Mooring was managed by Remazel HQ in Italy, while the construction was managed both in Italy and China.
The most exciting phase of the Project then was for sure the testing phase, which included a complete range of static and dynamic tests of all the systems, as well as the full-capacity load test on the Fairleads.
This has been the first Project that Remazel acquired by the Esteemed Korean Company HHI, and we are proud to say that the cooperation between our team has been extremely positive thanks also to the support of our local partners.

Now we are working on the final phases of the Project and our Service team is ready to fly to South Korea to best manage the commissioning activities.
We are confident to support HHI on future Projects both in Oil&Gas and, why not, in new sectors as Offshore Wind.

Project Team

MOORING SYSTEM

FOR P-78 FPSO VESSEL

THE MOST EXCITING PHASE OF THE PROJECT THEN WAS FOR SURE THE TESTING PHASE, WHICH INCLUDED A COMPLETE RANGE OF STATIC AND DYNAMIC TESTS OF ALL THE SYSTEMS, AS WELL AS THE FULL-CAPACITY LOAD TEST ON THE FAIRLEADS.

Remazel provided complete engineering and construction of the Mooring System for P-78 FPSO Vessel.

The floater will be customised for deployment at the deep-water Buzios field.

SCOPE OF WORK:

  • 28 Fairleads complete with brackets
  • 28 Chain Stoppers
  • 4 Chain Jacks
  • 4 Motorized Sheaves
  • 4 Chain Lockers
  • 4 Auxiliary Winches
  • 4 Tugger Winches
  • 4 Pneumatic Towing Winches
  • 2 HPUs, each powered by 3 x 230 kW electric motors with electric panels

TECHNICAL NOTES:

  • All the equipments are suitable for hazardous area (Zone 2 IIA T3), except for the HPUs which are installed in safe areas.
  • Particular layout with the winches installed on the Chain Locker which skid along the balcony rails.

The detailed engineering of the Mooring was managed by Remazel HQ in Italy, while the construction was managed both in Italy and China.
The most exciting phase of the Project then was for sure the testing phase, which included a complete range of static and dynamic tests of all the systems, as well as the full-capacity load test on the Fairleads.
This has been the first Project that Remazel acquired by the Esteemed Korean Company HHI, and we are proud to say that the cooperation between our team has been extremely positive thanks also to the support of our local partners.

Now we are working on the final phases of the Project and our Service team is ready to fly to South Korea to best manage the commissioning activities.
We are confident to support HHI on future Projects both in Oil&Gas and, why not, in new sectors as Offshore Wind.

Project Team

COMBUSTION CHAMBERS

FOR GT-10B

THE MOST CHALLENGING PHASE OF THIS PROJECT HAS BEEN FOR SURE THE PRODUCTION PROCESS SINCE THE VERY FIRST STAGE WAS THE ONE TO ADJUST THE TOOLING WE RECEIVED FROM THE CUSTOMER AND TO DESIGN NEW ONES.

Remazel has been selected by EthosEnergy for the supply of a refurbished and complete tooling set and the initial batch of N. 3 Combustors for the Gt10B Gas Turbine. This is Remazel starting point with EthosEnergy, embedded in Ethos wider supporting program to end users in the Middle East region.

As part of Remazel engagement with EthosEnergy, we will continue with the supply of the GT10b Combustors with an average yearly rate of 3 full items, including final controls according to a supply agreement in place between the two Companies.

SCOPE OF WORK:

No. 3 Anular Combustion Chambers for GT-10B, including thermical treatment, coating and flow test.

TECHNOLOGIES APPLIED:

  • Seam welding
  • High-precision and special mechanical machining
  • Testing: Air flow – Pilot Gas Flow – Main Gas Flo

The most challenging phase of this project has been for sure the production process since the very first stage was the one to adjust the tooling we received from the Customer and to design new ones in order to proceed with the construction activity in line with the customer technical requirements.

We studied and agreed together with the Customer the detailed production flow and now we are ready for the final testing. We are confident about the successful results, hoping to meet also Customer satisfaction on this challenging project.

Project Team

COMBUSTION CHAMBERS

FOR GT-10B

THE MOST CHALLENGING PHASE OF THIS PROJECT HAS BEEN FOR SURE THE PRODUCTION PROCESS SINCE THE VERY FIRST STAGE WAS THE ONE TO ADJUST THE TOOLING WE RECEIVED FROM THE CUSTOMER AND TO DESIGN NEW ONES.

Remazel has been selected by EthosEnergy for the supply of a refurbished and complete tooling set and the initial batch of N. 3 Combustors for the Gt10B Gas Turbine. This is Remazel starting point with EthosEnergy, embedded in Ethos wider supporting program to end users in the Middle East region.

As part of Remazel engagement with EthosEnergy, we will continue with the supply of the GT10b Combustors with an average yearly rate of 3 full items, including final controls according to a supply agreement in place between the two Companies.

SCOPE OF WORK:

No. 3 Anular Combustion Chambers for GT-10B, including thermical treatment, coating and flow test.

TECHNOLOGIES APPLIED:

  • Seam welding
  • High-precision and special mechanical machining
  • Testing: Air flow – Pilot Gas Flow – Main Gas Flo

The most challenging phase of this project has been for sure the production process since the very first stage was the one to adjust the tooling we received from the Customer and to design new ones in order to proceed with the construction activity in line with the customer technical requirements.

We studied and agreed together with the Customer the detailed production flow and now we are ready for the final testing. We are confident about the successful results, hoping to meet also Customer satisfaction on this challenging project.

Project Team

SERVICE, WORLDWIDE

In 2022, the most remarkable step toward for Service & After Sales team
has been from the organizational point of view.

0

COUNTRIES
EXPLORED

0

MANDAYS
IN 2022

CHINA:
Installation & Commissioning

BRAZIL:
Service &
Assistance

SERVICE, WORLDWIDE

In 2022, the most remarkable step toward for Service & After Sales team has been from the organizational point of view.

0

COUNTRIES
EXPLORED

0

MANDAYS
IN 2022

CHINA:
Installation & Commissioning

BRAZIL:
Service &
Assistance

In 2022, the most remarkable step toward for Service & After Sales team has been from the organizational point of view.
In fact, today, the team is identified as a separate Business Unit, which directly controls the Service team worldwide and that can give a significant contribution on internal testing since a dedicated team has been established.
In this organizational structure, the increased integration between the HQ and Trieste (TS) based Service team brought several advantages thanks to mix of technician competences, skills integration and joint cooperation in particular on some specific Site Assistance activities.
The outcome of this work is reflected in 2022 BU Order Intake which is equal to 17Ml€, a result that exceeded budget expectations.
During the year, the main energies have been invested in consolidating Remazel local presence both in China and Brazil through the Company branches Remazel Asia and Remazel Do Brazil (Remazel Serviços De Sistema Óleo & Gás Ltda).
At the same time, the team has been able to strengthen his worldwide commercial and operational networks, thanks also to the support of local partnerships and cooperators.
The combination of local technicians and expatriate employees, have made Remazel Service team even more flexible and fast in response.

“As we have done in China, were now we have a well developed Local Team, including inspectors and technician, able to support our Clients in a wide range of activities, we want to replicate the same mode for Remazel Do Brazil. The plan is to engage a qualified person from the Headquarter to go to Rio De Janeiro to develop locally our organization. The very first orders for Service and Spare Parts to our subsidiary in Brazil has started in 2022 and we expect a rapid growth in terms of sales in 2023.”
Service Team

“The new found mobility after almost 2 years of travel restrictions, has finally allowed us to reconnect 360-degrees with our Customers by giving our technical contribution and services on board.
The teleservice support, anyway, still remain a valuable alternative to support remotely our Clients in case of urgency.”

Service Team

QUALITY CONTROL

& SUPPLY CHAIN

QUALITY CONTROL

& SUPPLY CHAIN

After the intense work done in 2022, if we have to think about our 2023, we would say that it will be “the year of change”; change in mentality and approach towards an increasingly global dimension, for a stronger development of our international organization and process.

Excellent results have been achieved together with REMAC Srl (Remazel Engineering and Cartubi JV) for the steel works of no. 2 important projects for Offshore Wind application. The main goal for 2023 is the one to enlarge the workshop area and consolidate the ongoing achievements.

TRAINING HIGHLIGHTS
AND PLANS FOR 2023

  • Welding knowledge improvement continued in 2022 and will end in QII QIV 2023 with the final examination for the certification of no. 2 Welding Specialist and International Welding Technologist;

  • The Career Plans started in 2021 have continued with a proactive attitude and positive results by the candidates.

  • Alongside with technical training which will continue regularly, the main focus of the team will be addressed to soft skills enhancement, teamwork and team management, as a basis for the growth of the team and resources.

Digital Tools
implemented in 2022

  • A dedicated software for the recording and management of measuring and calibration instruments;

  • Industrial Tablets for a “paper free” activity.

SUPPLY CHAIN
HIGHLIGHTS

ITALY

SUPPLY CHAIN LOCALIZATION
2021 | 82%
2022 | 57%

ABROAD

2021 | 18%
2022 | 43%

CHINA

Focus on China YoY growth
2021 | 5%
2022 | 30%
During 2022, Remazel Quality Control team has consolidated many of the initiatives undertaken in 2021.

The main attention has been focused on the local supply chain, based in northern Italy, and in China, both in Nantong, Xiamen and Dalian areas. With reference to the latter, due to the mobility restrictions which lasted throughout 2022, a local team of about 10 Quality Controller have been established and trained to closely follow the intense production activity, in order to grant the high-level quality standard related to the ongoing Projects.

The experience gained during these years, thanks also to the support of Remazel Asia team who has grown significantly, has led us to invest in local supply chain development and training in particular for alignment of international standards (i.e. forgings).

The QC team has been significantly involved in internal process continuous improvement, in particular for a better identification of non-conformities and their management based on a root cause analysis methodology and 8D reporting. The team has then supported the diffusion of the new procedure within the organization by periodical sessions of training. For 2023, the team has planned an enhancement of QC Dept. workflow in order to prepare their growth and development both in terms of resources and projects managed.

“2022 was a challenging year, in particular from the international landscape point of view: the energetic environment together with the increases in raw materials prices in response to the lack of availability, have affected the market globally. Then, the intensification of our business relationship with Chinese local suppliers, increased significantly the level of complexity with reference also to the uncertainties of the pandemic situation in the Asiatic region, which lasted until the beginning of 2023.
Today, we are much more aware about our capabilities and network both in Italy, Europe and China, and for 2023 it will be necessary to direct our efforts in enhancing our internal process.”

Purchasing Team

The acquisition of new contracts in the Offshore Wind, have in a certain way redefined our procurement strategy and localization, by strengthening the relationship with Companies based in North-Europe (i.e., UK, The Netherlands), but also with Chinese suppliers, in line with Customers and projects requirements.

Remazel Shipyard local unit has been then strategic for assembly, testing and delivery integration, by optimizing in some cases logistics solutions and costs. In this framework, REMAC Srl still remain a reference point for the production and management of specific steel works and manufacturing activities.

In 2022 the Procurement team has started a dedicated improvement path aimed at the enhancement of internal processes, that will be finalized in 2023 partly in response to the renewed approach of our Customers. A step forward in this direction has been done at the beginning of 2023 when an Operation Manager joined Remazel Asia team by the strategic role of Chinese local construction coordination and supervision, alongside the Service Manager from Remazel Italian headquarters.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS

0
Ml EUR

REVENUES
0
Ml EUR

BACKLOG
0
Ml EUR

ORDER INTAKE