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Last $39.31 USD
Change Today -0.59 / -1.48%
Volume 2.6M
FTI On Other Exchanges
New York
As of 8:04 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

fmc technologies inc (FTI) Key Developments

FMC Technologies Inc. and Technip Signs 50/50 Joint Venture to Form an Exclusive Alliance and to Launch Forsys Subsea

FMC Technologies Inc. and Technip signed an agreement to form an exclusive alliance and to launch Forsys Subsea, a 50/50 joint venture that will unite the skills and capabilities of two subsea industry leaders. This alliance will redefine the way subsea fields are designed, delivered and maintained. Bringing the industry's most talented subsea professionals together early in the project concept phase, Forsys Subsea will have the technical capabilities, products and systems to significantly reduce the cost of subsea field development and provide the technology to maximize well performance over the life of the field. By combining the technologies of the parent companies, Forsys Subsea will reduce the interfaces of the subsea umbilical, riser and flowline systems (SURF) and subsea production and processing systems (SPS). It will also simplify the seabed layout, reducing complexity, accelerating time to first oil, and maximizing sustainable peak production. This unique combination will drive a new, step-change approach to how equipment designs and installation methods converge in a new generation of subsea architecture. Gathering the expertise and experience of its parent companies, Forsys Subsea will focus on: Early involvement in the concept selection phase of front-end engineering and design, when ability to influence cost is greatest. Integrated life-of-field well surveillance, monitoring, data interpretation and advisory services. Joint R&D to drive technological innovations that will boost efficiency and further reduce development costs. In addition, the alliance will be uniquely positioned to deliver and install a seamless subsea infrastructure from seabed to topside by eliminating interfaces and by integrating SPS with SURF, attaining the high reliability and uptime and the lowest total ownership cost available in the industry. After closing and upon launch of the joint venture, Forsys Subsea will have a workforce of 320 people and will be supported by the 58,000 employees of FMC Technologies and Technip. The company will be headquartered in London, with regional hubs in Oslo, Houston, Paris, Rio de Janeiro and Singapore. FMC Technologies and Technip will have 50/50 ownership of Forsys Subsea. The transaction is subject to regulatory approvals and other customary closing conditions.

Technip SA, FMC Technologies, Inc. - Special Call

To discuss exclusive alliance to launch Forsys Subsea

FMC Technologies, Inc. Presents at 43rd Annual Scotia Howard Weil Energy Conference, Mar-24-2015 08:00 AM

FMC Technologies, Inc. Presents at 43rd Annual Scotia Howard Weil Energy Conference, Mar-24-2015 08:00 AM. Venue: Roosevelt New Orleans Hotel, 130 Roosevelt Way, New Orleans, Louisiana, United States. Speakers: John T. Gremp, Chairman, Chief Executive Officer and President.

FMC Technologies to Cut 2,000 Jobs on Oil Market Losses

FMC Technologies announced that it would cut close to 2,000 jobs as a result of losses in the oil market. Currently, FTI has 19,300 employees worldwide, with 12,850 in the U.S. The company expects most of the layoffs to come from North America.

FMC Technologies, Inc. Provides Capital Expenditure Guidance for the Year 2015

FMC Technologies, Inc. provided capital expenditure guidance for the year 2015. The company expects its interest expense to average $8 million per quarter. The company expects capital spending in 2015 to be approximately $300 million, the majority of its 2015 non-maintenance capital spending will be directed towards profit adding subsea services and investments.


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