Sony Pixel Power calrec Sony

TechnipFMC Reaffirms Timeline for Separation Into Two Industry-Leading, Diversified Pure-Play Companies

17/01/2020

Press release | January 16 2020

TechnipFMC Reaffirms Timeline for Separation Into Two Industry-Leading, Diversified Pure-Play Companies LONDON & PARIS & HOUSTON--(BUSINESS WIRE)--Jan. 16, 2020-- Regulatory News:

TechnipFMC (NYSE:FTI) (PARIS:FTI) (ISIN:GB00BDSFG982) today reaffirmed that its planned transaction to separate into two companies, TechnipFMC and Technip Energies, is well on track for completion in the first half of 2020.

The Company anticipates completing the transaction in the second quarter of 2020 and intends to host a Capital Markets event in Paris for Technip Energies before completion of the spin-off.

The Company also announced that the E.U. Prospectus for the spin-off of Technip Energies will now include audited IFRS financial statements for Technip Energies for each of the fiscal years ended December 31, 2016 through 2019. In order to provide financial statements for the full year 2019, which will afford greater visibility into recent historical performance, the Company anticipates the release of its E.U. Prospectus after its annual filings (Annual Report on Form 10-K and U.K. Annual Report).

In addition to the approval of the E.U. Prospectus by the Dutch Authority for the Financial Markets (AFM), the successful completion of the planned spin-off also remains subject to general market conditions, regulatory approvals, and final Board approval. While awaiting receipt of all final approvals, the Company and its employees will stay focused on delivering operational excellence and world-class service to its clients.

Technip Energies (SpinCo)

With approximately 15,000 employees, Technip Energies would be one of the largest E&C pure-plays and is poised to capitalize on the global energy transition. Technip Energies will be well positioned to capture LNG opportunities as a result of its disciplined project delivery model, diversified capabilities and track record. In addition, 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 with headquarters in Paris and listed on the Euronext Paris exchange.

TechnipFMC (RemainCo)

With approximately 22,000 employees, TechnipFMC would be a fully-integrated technology and services provider, continuing to drive energy development. The company's role will be to support clients in the delivery of unique, integrated production solutions. As a standalone company, TechnipFMC will be the largest diversified pure-play in the industry. TechnipFMC will remain incorporated in the United Kingdom with headquarters in Houston and listed on both the NYSE and Euronext Paris exchange.

Important Information for Investors and Securityholders

Forward-looking statements

This release contains forward-looking statements as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Words such as expect, plan, intend, would, will, and similar expressions are intended to identify forward-looking statements, which are generally not historical in nature, and include any statements with respect to the potential separation of the Company into RemainCo and SpinCo, the expected financial and operational results of RemainCo and SpinCo after the potential separation and expectations regarding RemainCo's and SpinCo's respective businesses or organizations after the potential separation. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the U.S. Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, our filings with the Autorit des march s financiers or the U.K. Financial Conduct Authority, as well as the following:

risks associated with the impact or terms of the potential separation;

risks associated with the benefits and costs of the potential separation, including the risk that the expected benefits of the potential separation will not be realized within the expected time frame, in full or at all;

risks that the conditions to the potential separation, including regulatory approvals and consultation of employee representatives, will not be satisfied and/or that the potential separation will not be completed within the expected time frame, on the expected terms or at all;

the expected tax treatment of the potential separation, including as to shareholders in the United States or other countries;

changes in the shareholder bases of the Company, RemainCo and SpinCo, and volatility in the market prices of their respective shares;

risks associated with any financing transactions undertaken in connection with the potential separation; and

the impact of the potential separation on our businesses and the risk that the potential separation may be more difficult, time-consuming or costly than expected, including the impact on our resources, systems, procedures and controls, diversion of management's attention and the impact on relationships with customers, governmental authorities, suppliers, employees and other business counterparties.

We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new
LINK: https://www.technipfmc.com/en/media/press-releases/2020/01/technipfmc-...
See more stories from fmc

North America Stories

29/03/2024

XenData Announces Media Portal for its LTO and Cloud Archive Solutions

XenData Announces Media Portal for its LTO and Cloud Archive Solutions Brie Clayton March 29, 2024 0 Comments XenData, the provider of cutting-edge da...

29/03/2024

Autodesk Maya and 3ds Max 2025 Released With Time-Saving New Toolsets

Autodesk Maya and 3ds Max 2025 Released With Time-Saving New Toolsets Brie Clayton March 29, 2024 0 Comments Autodesk Flow Production Tracking and Flo...

29/03/2024

Dalet to Demo AI-Enabled Production, Automation and Monetization at NAB Show

PARIS Dalet has announced that during the 2024 NAB Show (booth #W1713), attendees can experience firsthand Dalet's collaborative, AI-enabled workflows that ...

29/03/2024

DirecTV Inks Deal to Carry 2024 Colorado Rockies Games

DENVER AND EL SEGUNDO, Calif. DirecTV has announced a new agreement with Major League Baseball that will allow Colorado Rockies fans to see this season's ga...

29/03/2024

S&P: Media, Telecom M&A Plunges to 13-Month Low

S&P Global Market Intelligence has released new data showing that dealmaking in the North America for media and telecom companies remains in the doldrums....

29/03/2024

NAB Show: Pebble Launches PRIMA Software Platform

EPSOM, Surrey, UK The automation, content management, and integrated channel specialist Pebble, has announced that it will be launching a new software platform ...

29/03/2024

Gray Television to Air Arena Football League Local Games

ATLANTA Gray Television Inc. has inked a multi-year agreement with the Arena Football League to bring Saturday arena football games over-the-air to local audien...

29/03/2024

Avoid Collaboration Concerns

By Craig Anderton As the universe of Studio One users grows, so do opportunities for collaboration. But your collaborator may not be using the same version of ...

28/03/2024

Give Me the Backstory: Get to Know 8 Women Filmmakers With Shorts at the 2024 Sundance Film Festival

A still from Jasmin Baumgartner's Bye Bye, Bowser, which screened as part ...

28/03/2024

The Best Shared Storage For Video Production

alt= class=wp-image-12214 data-lazy-src=/wp-content/uploads/2024/03/Best-Shared-Storage-EVO-logo-960x540-1.jpg/> Embarking on a cinematic journey or crafting a ...

28/03/2024

Future-Proofing the B-52

L3Harris is upgrading critical electronic warfare systems to ensure the iconic aircrafts spectrum superiority for decades to come....

28/03/2024

Supporting the RCAF for more than 25 Years with L3Harris' WESCAM MX-Series

L3Harris' WESCAM MX-Series EO/IR systems have supported the RCAF for more than 25 years....

28/03/2024

ENCO to Add AI News Anchor to Qimera Virtual Production Set

NOVI, Mich. During the 2024 NAB Show, ENCO will be showcasing an AI-driven virtual anchor delivering live news from a realistic 3D virtual news set....

28/03/2024

Johan de Nysschen Named President and CEO of ARRI Americas

MUNICH ARRI has announced that Johan de Nysschen has been put in charge of the ARRI Americas team as president and CEO ARRI Americas Inc....

28/03/2024

Fubo Inks Carriage Deal with YES Network

NEW YORK The YES Network and FuboTV have reached a multi-year carriage agreement that will allow Fubo to launch YES in its Pro base channel plan in time for YES...

28/03/2024

Dalet to Demo AI-Enabled Production, Automation and Monetization at NAB 2024

PARIS Dalet has announced that during its 2024 NAB showcase (booth #W1713), attendees can experience firsthand Dalet's collaborative, AI-enabled workflows t...

28/03/2024

Blackmagic Design Used on 2024 Oscar Nominated Films

Blackmagic Design Used on 2024 Oscar Nominated Films Brie Clayton March 28, 2024 0 Comments Blackmagic Design congratulates the many film professional...

28/03/2024

Arkona to Introduce BLADE//master Control and Orchestration Service at NAB 2024

Arkona to Introduce BLADE//master Control and Orchestration Service at NAB 2024 Brie Clayton March 28, 2024 0 Comments New option for BLADE//runner ke...

28/03/2024

Join Maxon for NAB 2024

Join Maxon for NAB 2024 Brie Clayton March 28, 2024 0 Comments Maxon returns to NAB with presentations by artists from around the world and demos of t...

28/03/2024

Boston Conservatory to Present Center Stage Production of A Midsummer Night's Dream at The Huntington

Boston Conservatory to Present Center Stage Production of A Midsummer Night'...

28/03/2024

2024 Big Night In Raises $145k to Support Triangle Arts Councils

Capitol Broadcasting and WRAL-TV once again proudly supported our local arts community with the broadcast of Big Night in for the Arts Thursday, March 7, 2024. ...

28/03/2024

JIC, MRC Announce Accord On Roles In Judging Measurement Companies

With more companies offering different approaches to measuring television viewing and campaign effectiveness, two of the groups that evaluate potential media bu...

28/03/2024

Hulu Added to Disney Plus App for Bundle Subscribers

The Walt Disney Co. said that it launched Hulu on Disney Plus, which makes Hulu programming available via the Disney Plus app....

28/03/2024

GroupM To Double Ad Spending On Women's Sports Programming

Giant media buyer GroupM said it plans to double its media spending on women's sports....

28/03/2024

Scripps Renews State Farm As Sponsor of Friday Night WNBA on Ion

Scripps Sports said that State Farm has signed a new multi-year agreement to continue as the title sponsor of Ion's Friday night WNBA telecasts....

28/03/2024

Elisabeth Moss, Kerry Washington Sign On for Imperfect Women' on Apple TV Plus

Elisabeth Moss and Kerry Washington will star in, and executive produce, Imperfe...

28/03/2024

Telemundo Station Group Addresses Climate Change With Month-Long Initiative

Telemundo Station Group launches the month-long climate change initiative Our Planet Thursday, March 28. The multiplatform campaign ends on Earth Day, April 22,...

28/03/2024

Circle City Broadcasting Renews Nielsen Ratings Deal

Nielsen said that Circle City Broadcasting, owner of WISH-TV in Indianapolis, has renewed its local TV measurement deal....

28/03/2024

Lionsgate Extends Deal With Seth Rogen's Point Grey Pictures

Lionsgate Television said it extended its deal with Point Grey Pictures, the production company led by Seth Rogen, Evan Goldberg and James Weaver....

28/03/2024

Ariana DeBose Back as Tonys Host

Ariana DeBose returns as host of the Tony Awards Sunday, June 16, on CBS and Paramount Plus. It is her third consecutive time hosting, and it will be the 77th T...

28/03/2024

The Steve Wilkos Show' Renewed for Season 18

The Steve Wilkos Show has been renewed for its 18th season in national syndication, Tracie Wilson, executive VP, NBCUniversal Syndication Studios & E! News, sai...

28/03/2024

Sinclair Selects Embrace as Its Media Orchestration Engine

PARIS Embrace, a developer of advanced automation and orchestration software solutions, has announced that Sinclair Broadcast Group has selected Embrace's P...

28/03/2024

Nielsen and Circle City Broadcasting Renew Local TV Measurement Deal

NEW YORK Nielsen has a multi-year renewal with Circle City Broadcasting, Indianas only locally owned and operated broadcast and digital news media network, for ...

28/03/2024

JVC to Demo Its First Ever 40x Zoom PTZ Camera Series at 2024 NAB Show

LAS VEGAS JVC Professional Video has announced that it will debut its new KY-PZ540 Series PTZ Cameras with 40x zoom at 2024 NAB Show (Booth C4720)....

28/03/2024

Brightcove Launches Cloud Playout 2.0

BOSTON Brightcove has announced the launch of Cloud Playout 2.0, a platform that the company said will offer customers new ways to create linear channels, monet...

28/03/2024

NBC Sports Chicago to Air First-Ever Animated Real-Time Local Sports Telecast

The Chicago Blackhawks and NBC Sports Chicago have announced a collaboration with the NHL to bring fans the first-ever local animated real-time sports telecast....

28/03/2024

The Best News Coverage is Real, Live, Balanced, Professional

The Best News Coverage is Real, Live, Balanced, Professional Andy Marken March 28, 2024 0 Comments Hero image source News of the World, Perfect Wo...

28/03/2024

TNT Sports Gets Its College Game On for March Madness Audio

TNT Sports Gets Its College Game On for March Madness Audio Marching bands, crowds make up for lack of court FX and wired players By Dan Daley, Audio Editor ...

28/03/2024

Cosm/ESPN Deal Will Bring NBA, NHL, Tennis, College Football, and More to Shared Reality' Venues

Cosm/ESPN Deal Will Bring NBA, NHL, Tennis, College Football, and More to Share...

28/03/2024

MLB 2024: The Famous Group, Miami Marlins Team Up for AI-Powered Intro for All 2024 Home Games

MLB 2024: The Famous Group, Miami Marlins Team Up for AI-Powered Intro for All 2...

28/03/2024

MLB 2024: MLB Network Showcase Opts for Secaucus-Based Remote Production

MLB 2024: MLB Network Showcase Opts for Secaucus-Based Remote Production The league's production arm marks 15th-anniversary season with packed schedule By ...

28/03/2024

MLB Opening Day: ESPN Brings Sunday Night Baseball Into Analytic Age With Volumetric Replays, Win Probability' in Scorebug

MLB Opening Day: ESPN Brings Sunday Night Baseball Into Analytic Age With Volume...

28/03/2024

MLB 2024: FOX Sports Steps Up to the Plate With Big Audio Plans

MLB 2024: FOX Sports Steps Up to the Plate With Big Audio Plans More player and field sound will be on tap By Dan Daley, Audio Editor Thursday, March 28, 202...

28/03/2024

Netflix Announces Agatha Christie Series 'The Seven Dials Mystery' by 'Broadchurch' Writer Chris Chibnall

Back to All News Netflix Announces Agatha Christie Series The Seven Dials Myste...

28/03/2024

Haivision Showcases World-Leading Live Video Contribution Ecosystem at the 2024 NAB Show

Makito X4 video encoders, Haivision Pro mobile transmitters, StreamHub receiver,...

28/03/2024

FOR-A shows production flexibility for entertainment and sports at CABSAT

Compressed and uncompressed IP solutions alongside SDI...

28/03/2024

Greater Scope: Doctors Get Inside Look at Gut Health With AI-Powered Endoscopy

From humble beginnings as a university spinoff to an acquisition by the leading global medtech company in its field, Odin Vision has been on an accelerated jour...

28/03/2024

Get Cozy With Palia' on GeForce NOW

Ease into spring with the warm, cozy vibes of Palia, coming to the cloud this GFN Thursday. It's part of six new titles joining the GeForce NOW library of ...

27/03/2024

Inside the Archives: It's Lights, Curtains, Action When Sundance Films Become Stage Productions

By Jen Scott It's time to unwrap those noisy candies and put your phone on ...

27/03/2024

Sencore and Showfer Announce Collaboration at NAB 2024, With a Brand-New Content Management and Distribution Solution

Las Vegas, NV, April 14-17, Booth W2401 Sencore, a leading provider of profess...