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MarketScreener Homepage  >  Equities  >  Nyse  >  TechnipFMC    FTI   GB00BDSFG982

TECHNIPFMC

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TechnipFMC : reveals that Technip Energies will be the future name of SpinCo

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10/30/2019 | 04:48am EST

News | October 30, 2019

TechnipFMC reveals that Technip Energies will be the future name of SpinCo

Today is a new important step in the process of launching the leading engineering and construction (E&C) player, poised to capitalize on the global energy transition, as announced on August 26th. We are pleased to reveal that the future name of the company will be Technip Energies.

In an internal letter sent to all employees, Catherine MacGregor, CEO-elect of Technip Energies, stated: 'Over the last few weeks, we have had the opportunity to meet many of you, as well as our clients and partners. We have been impressed by the high level of enthusiasm and support associated to this project. There is a strong attachment and recognition of the Technip name and, at the same time, the clear desire to move the company forward. Our new name, Technip Energies reflects that.

Technip pays tribute to the outstanding track record of successful onshore and offshore projects, our pioneering spirit, the passion of our teams, our operational excellence and the quality of our technology portfolio.

Energies highlights our ambition to play a key role in driving the global energy transition. It also reflects the individual contributions of all our employees which will allow us to write, together, this new page of our history.'

Supported by a record backlog, a solid financial situation, a strong market positioning and by a skilled and talented workforce of 15,000 people, Technip Energies is perfectly well positioned to become a global leader in the energy industry.

As a reminder, on August 26, TechnipFMC announced a transaction that will create two diversified, pure-play market leaders and will reshape the industry:
- RemainCo - which will retain the TechnipFMC name - will be a fully-integrated technology and services provider that will continue to drive energy development; and
- SpinCo - which will be named Technip Energies - a leading E&C player, poised to capitalize on the global energy transition.

###

About TechnipFMC
TechnipFMC is a global leader in subsea, onshore/offshore, and surface projects. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients' project economics.

We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.

Each of our more than 37,000 employees is driven by a steady commitment to clients and a culture of purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.

TechnipFMC utilizes its website www.TechnipFMC.com as a channel of distribution of material company information. To learn more about us and how we are enhancing the performance of the world's energy industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

Contacts

Investor relations
Matt Seinsheimer
Vice President Investor Relations
Tel: +1 281 260 3665
Email: Matt Seinsheimer

Phillip Lindsay
Director Investor Relations Europe
Tel: +44 203 429 3929
Email: Phillip Lindsay

Media relations
Christophe Belorgeot
Senior Vice President Corporate Engagement
Tel: +33 1 47 78 39 92
Email: Christophe Belorgeot

Delphine Nayral
Director Public Relations
Tel: +33 1 47 78 34 83
Email: Delphine Nayral

Disclaimer

TechnipFMC plc published this content on 30 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 October 2019 09:46:11 UTC

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Financials (USD)
Sales 2019 13 539 M
EBIT 2019 1 131 M
Net income 2019 441 M
Finance 2019 533 M
Yield 2019 2,56%
P/E ratio 2019 22,7x
P/E ratio 2020 14,1x
EV / Sales2019 0,62x
EV / Sales2020 0,55x
Capitalization 8 941 M
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Last Close Price 20,00  $
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