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TechnipFMC to Split into Two Companies in Face of Changing Energy Markets
Industry Segment: Production | Word Count: 722 Words
Attachment: Active Project Involving TechnipFMC
SUGAR LAND--August 28, 2019--Researched by Industrial Info Resources (Sugar Land, Texas)--Engineering and construction giant TechnipFMC plc (NYSE:FTI) (Paris, France) announced this week that it will split into two separate publicly traded companies covering different areas and using the placeholder names RemainCo and SpinCo. The larger company, RemainCo, will have approximately 22,000 employees and will be a technology and services provider in the energy sector, including subsea and surface technologies. The other company, SpinCo, will have approximately 15,000 employees and will be a pure-play engineering and construction firm. Specifically mentioned sectors for SpinCo include the liquefied natural gas (LNG) market. The transaction is expected to close in the first half of 2020, subject to regulatory approvals. Industrial Info is tracking projects valued at more than $86 billion involving TechnipFMC.
Within this article: Details of some of the major projects involving TechnipFMC
Other companies featured: Sempra Energy (NYSE:SRE), Equinor (NYSE:EQNR), Exxon Mobil Corporation (NYSE:XOM)
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