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FMC Technologies Inc (FTI)

FTI on New York Consolidated

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8 Dec 2016
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Latest Key Developments (Source: Significant Developments)

FMC Technologies and Technip announce Brazilian antitrust clearance
Thursday, 1 Dec 2016 05:00pm EST 

Fmc Technologies Inc : Fmc technologies and technip announce brazilian antitrust clearance and the conclusion of the antitrust reviews on their combination .Fmc technologies inc - transaction is expected to close in early 2017.  Full Article

Technip expects another project with FMC this year -CEO
Thursday, 27 Oct 2016 03:50am EDT 

Technip Sa : Technip's CEO Thierry Pilenko says he expected to sign at least one additional project in alliance with FMC Technologies this year, after the companies recorded a first project, the track development of the Lancaster field in the North Sea. .Technip raised its full-year 2016 objectives after its third quarter results beat expectations. The company said also that its merger talks with FMC Technologies were on track and should close by January ahead of schedule. [nL8N1CX12N].  Full Article

Technip and FMC Technologies to vote merger on Dec. 5
Wednesday, 26 Oct 2016 03:41am EDT 

Technip SA and FMC Technologies :Announced on Tuesday that both companies will vote on the proposed combination in their respective shareholder's meetings on December 5.  Full Article

FMC Technologies Q3 revenue $1.1 bln
Wednesday, 19 Oct 2016 04:15pm EDT 

FMC Technologies Inc : FMC Technologies reports third quarter 2016 diluted earnings per share from continuing operations of $0.20; excluding charges, adjusted diluted earnings per share from continuing operations of $0.35 . Q3 adjusted earnings per share $0.35 from continuing operations excluding items . Q3 earnings per share $0.20 from continuing operations . Q3 revenue $1.1 billion versus I/B/E/S view $1.15 billion . Q3 earnings per share view $0.23 -- Thomson Reuters I/B/E/S . Qtrly total inbound orders were $692.2 million, including $401 million in subsea technologies orders .FMC Technologies Inc - company's quarter-end backlog stands at $3 billion, including Subsea Technologies backlog of $2.5 billion.  Full Article

Technip's CEO: Current oil sector investments insufficient to sustain output
Thursday, 28 Jul 2016 04:03am EDT 

Technip's : CEO Thierry Pilenko says there is a strong consensus in oil sector that current investments levels are insufficient to sustain production. .Pilenko says starting to observe significant production decline at field, company or country levels.  Full Article

FMC Technologies Q2 earnings per share $0.01
Wednesday, 20 Jul 2016 04:15pm EDT 

FMC Technologies Inc : Qtrly backlog for company was $3.4 billion, including subsea technologies backlog of $2.9 billion . Fmc Technologies reports second quarter 2016 diluted earnings per share of $0.01; excluding charges, adjusted diluted earnings per share of $0.22 . Q2 adjusted earnings per share $0.22 excluding items . Q2 earnings per share $0.01 . Q2 revenue $1.2 billion versus i/b/e/s view $1.26 billion . Q2 earnings per share view $0.30 -- Thomson Reuters I/B/E/S . Qtrly total inbound orders were $537.9 million, including $334.1 million in subsea technologies orders ."further deterioration in north america led to a significant impact to our surface technologies earnings" in q2.  Full Article

FMC Technologies, Technip S.A enter merger agreement
Thursday, 16 Jun 2016 05:08pm EDT 

FMC Technologies : On June 14, co and Technip S.A entered into a definitive business combination agreement . Business combination agreement provides for merger of Technip with and into Topco ( 'Technip merger'), with Topco surviving merger . Following consummation of mergers, former Technip stockholders will own about 50.9 percent of Topco, former stockholders of co will own about 49.1 percent of Topco Source: (http://1.usa.gov/1UlUVhk ) Further company coverage: [FTI.N] (Bengaluru Newsroom: +1 646 223 8780).  Full Article

FMC Tech says co may pay Technip a termination fee of $250 mln
Thursday, 19 May 2016 06:23am EDT 

Fmc Technologies : Under certain circumstances in connection with termination of mou, co to pay technip a termination fee of $250 million - sec filing . If mou terminated because technip board changes recommendation on proposed deal, technip to pay co termination fee of $250 million .Technip may terminate mou if it receives opinion of works council in opposition to proposed deals, provided it reimburses certain expenses of co, topco.  Full Article

FMC Technologies and Technip to combine to form TechnipFMC
Thursday, 19 May 2016 02:21am EDT 

Fmc Technologies Inc : Combined company, which will be called TechnipFMC, would have an equity value of $13 billion based on pre-announcement share prices . Technip shareholders to receive 2.0 shares of combined company for each share of Technip . Fmc technologies shareholders to receive 1.0 share of combined company for each share of FMC Technologies . TechnipFMC to be listed on New York and Paris stock exchanges . Deal expected to deliver at least $400 million in annual pretax cost synergies in 2019 . Deal significantly accretive to both companies' earnings per share . Each company's shareholders will own close to 50 percent of combined company . Cos entered mou and expect to execute business combination agreement to combine companies in an all-stock merger transaction . Combined company expects to achieve pretax cost synergies of approximately $200 million in 2018 . Technip chairman and CEO, Thierry Pilenko, will serve as executive chairman of technipfmc's board of directors . Doug Pferdehirt, currently FMC Technologies' president and coo, will serve as CEO of TechnipFMC . Technip and FMC Technologies "confident" in combined co's ability to fund both an annual cash dividend and share repurchase program .FMC Technologies and Technip to combine: driving change by redefining the production and transformation of oil and gas.  Full Article

FMC Technologies and Technip to combine in TechnipFMC
Thursday, 19 May 2016 02:00am EDT 

Technip : FMC Technologies and Technip to combine . Combined company will be called TechnipFMC . All-Stock transaction: Technip shareholders to receive 2.0 shares of combined company for each share of Technip . FMC Technologies shareholders to receive 1.0 share of combined company for each share of FMC Technologies . TechnipFMC to be listed on New York and Paris stock exchanges . Expected to deliver at least $400 million in annual pretax cost synergies in 2019 . Combined company would have an equity value of $13 billion based on pre-announcement share prices . Goldman Sachs and Rothschild are acting as financial advisors to Technip .Evercore and Société Générale are acting as financial advisors to FMC Technologies.  Full Article

BRIEF-FMC Technologies, Technip S.A. contacted by U.S. DOJ regarding offshore platform projects

* Technip S.A. contacted by U.S. DOJ, notably regarding offshore platform projects awarded between 2003 and 2007 performed in Brazil by a JV