IREM

What IREM does

IREM S.p.A. is a privately held Italian industrial construction contractor headquartered in Siracusa, Sicily. Founded in 1979, the company delivers mechanical construction, piping fabrication, tank construction, and industrial maintenance services primarily to the Oil & Gas, Power, and Chemical sectors. IREM operates through an integrated group of subsidiaries — including ICOS, Solesi, SONIM, TECHIMP, Irtis, and Res Integra — and executes projects across more than 20 countries on four continents, supported by the Punta Cugno fabrication yard covering 180,000 square meters.

The company's revenue model is project-based EPC contracting, with execution driven by large multi-year mega-projects for blue-chip energy and process industry clients such as ExxonMobil, ENI, ThyssenKrupp, KNPC, EDF, Borealis, TOTAL, and PREEM. Capacity is anchored by approximately 4,000 employees delivering 5–14 million man-hours per year, with single-project scope reaching up to 8.6 million man-hours (e.g., the MOL/ThyssenKrupp Polyol project). IREM holds an extensive certification portfolio — ISO 9001, ISO 14001, ISO 45001, SA8000, VCA Petrochemical, ASME Stamp U&S, ISO 3834, and EN 1090 — that qualifies it to bid on regulated industrial capex globally. Recent strategic initiatives include the H2-SR green hydrogen project (2023), the DRI green steel project with ThyssenKrupp/SMS (2026), and the IREM Academy workforce development program.

IREM is led by CEO Giovanni Musso, Chairman Mario Saraceno, and Co-CEO Simone Bittoni. In January 2024 the company raised $5.4 million in growth financing from Azimut Direct, and has received CRIBIS Prime Company recognition (2022, 2023) and AGCM legal rating (2025). The company is positioned at the intersection of traditional hydrocarbon EPC and emerging low-carbon industrial infrastructure, with forward-looking exposure to green hydrogen and green steel value chains.

Name

IREM

Legal name

IREM S.p.A.

Website

https://iremspa.it

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

IREM S.p.A. is a privately held Italian industrial contractor founded in 1979 in Siracusa, delivering mechanical construction, piping fabrication, tank construction, and maintenance services to Oil & Gas, Power, and Chemical clients across 20+ countries, with ~4,000 employees and a capacity of 5–14 million man-hours per year.

Ownership category

akta.pro rank

Product category

Industrial Construction & EPC Services

NAICS

Electric Power Generation (22111), Electrical Equipment Manufacturing (3353)

SIC

Cogeneration Services & Small Power Producers (4991), Electrical Industrial Apparatus (3620)

akta.pro primary industry

Power Plant Electrical Systems EPC (Switchyard, Transformers, Protection & Controls) (EUAEAAAM)

akta.pro secondary industries

Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting) (EUAEADAB), Utility-Scale PV EPC (Engineering, Procurement & Construction) (EUACAGAB)

Keywords

• Industrial plant construction
• Oil and gas EPC
• Mechanical erection services
• Offshore platform construction
• Refinery maintenance services

Headquarters

HQ city

Siracusa

HQ country

Italy

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Industrial Plant Construction Services: EPC-style contracts for construction of industrial plants including mechanical erection, steel structures, piping fabrication and erection, tank design/fabrication/erection, offshore platform construction (jackets, decks, topside modules). Revenue generated through project-based contracts with major energy companies and EPC contractors.
2. Operation, Maintenance & Turnaround Services: Ongoing maintenance, revamping, and turnaround services for refineries and industrial plants. Includes ordinary and extraordinary maintenance, shutdown services, and multispecialist maintenance activities.
3. Specialized Services (Scaffolding, Electrical, Civil Works): Specialized services including scaffolding and thermal insulation, electrical and instrumentation installation, civil works for industrial plants. Provided both as standalone services and integrated with major construction projects.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

IREM is a multidiscipline industrial contractor that delivers Design, Supply, Construction and Maintenance of Industrial Plants for the Oil & Gas, Power and Chemical sectors. Through its group of specialized subsidiaries, IREM provides mechanical construction, piping fabrication, tank construction, offshore platform assembly, electrical and instrumentation, scaffolding and insulation, civil works, and ongoing maintenance/turnaround services for refineries, petrochemical plants, gas processing facilities, power plants and emerging green-energy installations.

Product overview

IREM SpA is an industrial construction and engineering services company operating as a multidiscipline contractor in Oil & Gas, Power and Chemical sectors. Founded in 1979 and headquartered in Syracuse, Italy, IREM Group comprises multiple specialized companies including IREM S.p.A. (mechanical construction), SONIM S.r.l. (maintenance), ICOS Serbatoi S.p.A. (tanks), Techimp Impianti S.p.A. (electrical & instrumentation), Irtis S.r.l. (scaffolding & insulation), Solesi S.p.A. (civil works), and Consortium Italoffshore (offshore modules). The company offers integrated solutions in Design, Supply, Construction and Maintenance of Industrial Plants with a total capacity of approximately 5,000,000 man-hours per year. Recent strategic initiatives include the H2-SR green hydrogen project as part of Italy's energy transition.

Differentiator

Problem solved

Functional benefit

Products and services

• Mechanical Construction Mechanical erection services for chemical, petrochemical, gas and power plants, including steel structure erection, piping fabrication and erection, tank design/fabrication/erection, EPC jackets, deck and topside for offshore platforms, and detailed engineering services for industrial plant owners and EPC contractors.
• Tanks Construction & Maintenance Construction, erection and maintenance of storage tanks for the petrochemical industry, including fixed and floating roof storage tanks, LPG tanks and water tanks compliant with OCTEL rules, delivered by ICOS Serbatoi S.p.A.
• Offshore & Modules Construction, hook-up and commissioning of turnkey offshore platform contracts through Consortium Italoffshore, including jackets, decks and topside modules, executed at the 180,000 sq meter Punta Cugno yard in Sicily and capable of launching platforms weighing over 30,000 tons.
• Scaffolding & Thermal Insulation Thermal and acoustic insulation, scaffolding construction and rental, industrial coatings, fire proofing and noise reduction systems delivered by Irtis S.r.l. for power plants, oil plants, chemical/petrochemical plants, metallurgical plants, storage facilities and shipbuilding.
• Electrical & Instrumentation Planning, supply and installation of electric and instrument systems for refineries, power stations, chemical plants, pharmaceutical plants and other industrial applications, including electro-instrumentation assembly, testing, commissioning and maintenance delivered by Techimp Impianti S.p.A.
• Civil Works Design, construction and maintenance of civil and industrial works including residential and commercial buildings, road works, gas pipelines, waterworks, sewage systems, purification systems and real estate services delivered by Solesi S.p.A.
• Operation, Maintenance & Turnarounds Mechanical maintenance, ordinary and extraordinary plant maintenance, revamping, pipeline installation, pump stations, heavy steel structures and complete turbogas construction for Oil & Gas, Chemical and Power plants delivered by SONIM S.r.l. and the G.I.MAN consortium.
• H2-SR Green Hydrogen Project Green hydrogen production plant developed in partnership with Res Integra as part of Italy's Hydrogen Valley programme funded by the National Recovery and Resilience Plan (PNRR), located in Priolo Gargallo and powered by renewable energy sources.

Quantifiable outcome

• Successfully completed major international projects for clients including ExxonMobil, ENI, Borealis, ThyssenKrupp, and major Middle Eastern NOCs
• +3 more outcomes

Named customers20 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Confindustria RomaniacoreGTM or Marketing Partner · 1 January 2026IREM CEO Giovanni Musso serves as Presidential Advisor of Confindustria Romania with responsibility for Oil & Gas, confirmed for the 2026-2029 term. Participation in Bucharest Economic Forum and active role in industrial association activities.
• RandstadminorStrategic or Co-development Partner · 1 January 2024Collaboration with Randstad for IREM Academy training programs. The partnership develops professional training courses including the 'Welding Quality and Non-Destructive Testing Technician' course, a 247-hour program combining technical and soft skills development.
• RotaryminorStrategic or Co-development Partner · 1 January 2024Partnership with Rotary for IREM Academy training programs, providing professional development for young graduates and diploma holders in Siracusa province.
• SMS Group / ThyssenKruppcoreImplementation/ SI/ Consulting Partner · 1 January 2024IREM won contract for construction, transport and installation of modules for DRI (Direct Reduction Iron) plant for SMS Group at ThyssenKrupp's steel mill in Walsum, Germany. SMS Group is world leader in steelmaking technology. This represents IREM's entry into green steel production sector.
• Fondazione OrtygiaminorGTM or Marketing Partner · 1 January 2024Partnership through 'Progettare Futuro' Festival. IREM participated in 'Dialoghi sul Futuro' closing event in Piazza Minerva, Ortigia, engaging with young people about energy transition and career opportunities.
• Res IntegracoreStrategic or Co-development Partner · 1 January 2023Partnership for H2-SR green hydrogen production project. Res Integra, a company within the IREM Group, is collaborating on the Hydrogen Valley programme funded by Italy's National Recovery and Resilience Plan (PNRR). The project involves construction of a green hydrogen production plant in Priolo Gargallo, Sicily.
• SONIM S.r.l.coreStrategic or Co-development Partner · 1 January 1998Associated company of Consortium Italoffshore, founded in 1998 for mechanical maintenance works in Oil & Gas, Chemical and Power plants. Located in Punta Cugno / Augusta (SR) with 180,000 sq.m. area, 4,000 sq.m. covered workshop, and two 50m docks.
• ICOS Serbatoi S.p.A.coreStrategic or Co-development Partner · 1 January 1987Founded in 1987 to provide storage tank construction, erection and maintenance services to petrochemical industry. Enrolled in Vendor Lists of major clients including ENI, ERG, ESSO, Raffinerie Saras, and others.
• Consortium ItaloffshorecoreStrategic or Co-development Partner · 1 January 1984Founded in 1984 by IREM and other Italian companies including SONIM to combine resources for offshore platform construction. The consortium enables programming using leading-edge technology for construction, hook-up and commissioning of turnkey offshore platform contracts.
• TECHIMP Impianti S.p.A.coreStrategic or Co-development Partner · 1 January 1984Founded in 1984 as specialized company in planning, supply and installation of electric and instrument systems. Employs over 250 people, operating internationally for prestigious clients across refineries, power stations, and chemical plants.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bonatti: Italian-based international EPC contractor specializing in pipelines, plants, and electrical/instrumentation for oil & gas; competes with IREM for mechanical construction contracts across Europe, North Africa, and the Middle East.
• Saipem: Italian-headquartered global EPC contractor for oil & gas, refining, and LNG projects; IREM regularly partners with Saipem (Staatsolie, ItalGas Storage) as a mechanical subcontractor and competes for similar scope on major international tenders.
• Petrofac: UK-based EPC and operations/services provider focused on oil & gas, refining, and energy transition projects; comparable to IREM's project profile, international footprint, and client roster of national oil companies and integrated majors.
• Rosetti Marino: Italian industrial contractor delivering EPC services for oil & gas, power, and chemical plants with offshore and modular construction capabilities; comparable to IREM in scope, customer base (ENI, Saipem-adjacent), and Italian headquarters.
• McDermott: US-based EPC specialist for offshore and onshore oil & gas facilities including platforms, refineries, and petrochemical plants; directly comparable to IREM's offshore platform and heavy-module construction capabilities (Consortium Italoffshore).
• Técnicas Reunidas: Spanish EPC contractor executing refinery, petrochemical, and power projects globally; IREM has executed subcontracted scope for Técnicas Reunidas (HELPE Elefsis Refinery Upgrade) and competes in the same downstream tender processes.
• MAIRE: Italian engineering and construction group (formerly Maire Tecnimont) executing petrochemical, fertilizer, and refining EPC projects; competes with IREM for chemical/refinery mechanical construction scope and shares Italian industrial-contractor DNA.

Broad incumbents

• Fluor: US-headquartered global EPC incumbent executing refinery, petrochemical, LNG, and power projects; IREM has acted as a subcontractor on Fluor-led biorefinery work (ST1 Göteborg) and competes for similar mid-/large-scale industrial scopes.
• Worley: Australia-based global engineering and project delivery provider serving oil & gas, chemicals, and energy transition customers; overlaps with IREM in refinery and petrochemical project execution with much broader scale and geographic reach.
• Wood Group: UK-headquartered global engineering and consulting firm with project delivery across energy, chemicals, and refining; IREM has delivered mechanical/structural work as a subcontractor on Wood-led projects (Preem Synsat) and overlaps in refinery revamp scope.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/IremSpa
• LinkedInlinkedin.com/company/irem-spa

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries7 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about IREM