The Floating Pipeline Company Incorporated (FPC) is a limited company incorporated under the federal laws of Canada in May, 2002.
FPC took over the lease of Shed D, on the West side of Saint John Harbour in April 2005 after receiving substantial support from private investors and the Government of New Brunswick, and has since been setting up the facility, insulating the walls, installing the electrical wiring, piping and production equipment. This 120,000 sq foot facility built in 1997 will completely house the FPC manufacturing facilities.
In August 2006, FPC welcomed Overseas Shipholding Group Inc. (NYSE:OSG) as an equity investor and we are now moving rapidly forward with strength and confidence. Overseas Shipholding Group (OSG) and TransCanada CNG Technologies Ltd. (TCCNGT) have formed a partnership, TransCNG International, to own and operate the CNG ship fleets for marine CNG projects.
Construction of the plant is nearing completion and the first production ICNG Road Trailers are due for roll-out in September 2007.
