TechnipFMC Will Split Into Two Companies This Semester

TechnipFMC And Technip Energies Will Be The Official Names Of The Oilfield Services Provider In 2020, The Company Affirms In A Note

The Board Of Directors Of TechnipFMC Unanimously Approved The Company’s Plan To Split Into Two Independent Publicly Traded Companies In August 2019.

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Technip Energies (SpinCo)

With Approximately 15,000 Employees, Technip Energies Would Be One Of The Largest E&C (Engineering And Construction) Companies And Is Ready To Capitalize On The Global Energy Transition, The Company Said.

Technip Energies Will Be Well Positioned To Capture LNG Opportunities As A Result Of Its Project Delivery Model, Diversified Capabilities, And Track Record.

Additionally, The New Company Will Benefit From Its Leadership Position, In Terms Of Backlog, In The Downstream Market, As Well As Future Growth Opportunities In Biofuels, Green Chemistry, And Other Energy Alternatives.

Technip Energies Will Be Incorporated In The Netherlands, Headquartered In Paris, And Listed On The Euronext Paris Stock Exchange.

TechnipFMC (RemainCo)

With Approximately 22,000 Employees, TechnipFMC Will Be A Fully Integrated Technology And Services Provider, Continuing To Drive Energy Development.

The Company’s Role Will Be To Support Clients In Delivering Unique And Integrated Production Solutions.

As An Independent Company, TechnipFMC Will Be The Largest Diversified Player In The Sector, According To TechnipFMC.

TechnipFMC Will Remain Incorporated In The United Kingdom With Its Headquarters In Houston And Listed On The NYSE And Euronext Paris Exchanges.