Press release | March 23 2018
TechnipFMC and Magma Global to Enter into a Strategic Collaboration Agreement for Hybrid Flexible Pipe LONDON & PARIS & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (NYSE:FTI) (PARIS:FTI) has agreed the terms of a collaboration agreement with Magma Global Ltd. to develop a new generation of hybrid flexible pipe (HFP) for use in offshore applications. HFP is expected to provide increased strength and fatigue performance, while also achieving dramatic weight and cost reductions, for subsea fluid transport applications. As part of the collaboration, TechnipFMC is purchasing a minority stake in Magma Global.
Barry Glickman, President of Engineering, Manufacturing & Supply Chain at TechnipFMC, stated: I am very pleased that we have reached this agreement with Magma, which will further enhance TechnipFMC's Subsea 2.0 product platform.The lighter, higher performance, and more cost-effective HFP solution, will enable TechnipFMC to strengthen its leadership position in the flexible pipe business and address the new challenges of offshore deepwater fields .
Martin Jones, Magma Global CEO, said: We are delighted to be working with TechnipFMC and believe that their vision for a hybrid flexible product provides a logical step for the increased adoption of carbon composites in full field developments, paving the way towards Magma's long-term vision of an all composite subsea infrastructure from the seabed to the surface. Ultimately we will deliver that by continuing to offer the unique benefits of Magma's m-pipe to a wide range of industry players and applications .
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. Forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from the Company's historical experience and present expectations or projections. These risks, uncertainties and assumptions relate to, among other things, the Company's ability to work with Magma to achieve the relevant milestones, to develop a commercially competitive proposition and to protect and maintain critical intellectual property assets and the potential impact of the announcement or consummation of the transaction with Magma on relationships, including with employees, suppliers, customers and competitors of the Company and Magma. For additional 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 United States Securities and Exchange Commission, which include our Registration Statement on Form S-4, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
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 information, future events or otherwise, except to the extent required by law.
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.
To learn more about us and how we are enhancing the performance of the world's energy industry, go to TechnipFMC.com and follow us on Twitter @TechnipFMC.
About Magma
Magma Global manufacturers m-pipe , a high quality, high strength carbon fibre and Victrex PEEK thermoplastic composite pipe that is one tenth the weight in water of equivalent steel or non-bonded flexible pipe and is highly resistant to degradation. m-pipe is manufactured using high quality carbon fibre and Victrex PEEK in a fully automated robotic 3D laser print process, and the Magma In Country Manufacturing Module (ICMM) can meet local content requirements. Magma m-pipe subsea applications include risers, jumpers, infield flowlines and intervention lines and it is ideally suited to sour service and deep water environments. A recent independent study shows m-pipe reduces the fully installed cost of deep water risers by over 40%.
www.magmaglobal.com
Contacts TechnipFMC
Investor relations
Matt Seinsheimer, 281-260-3665
Vice President Investor Relations
Email: Matt Seinsheimer
or
Phillip Lindsay, +44 203 429 3929
Director Investor Relations Europe
Email: Phillip Lindsay
or
Media relations
Christophe Belorgeot, +33 1 47 78 39 92
Vice President Corporate Communications
Email: Christophe Belorgeot
or
Delphine Nayral, +33 1 47 78 34 83
Senior Manager Public Relations
Email: Delphine Nayral
Most recent headlines
09/11/2025
Dalet today announced a transformative leap forward for media operations: Agentic Artificial Intelligence (AI) that unifies the Dalet ecosystem under one natura...
21/10/2025
As Amazon's Prime Video prepares to launch its coverage of NBA basketball under a major new deal, Grup Mediapro has announced that it is working with the st...
21/10/2025
ATLANTA Good news for consumers using an Atlanta DTH receiver to watch ATSC 3.0: with a new software update, they will be able to blanket their homes with Wi-Fi...
21/10/2025
While recent news has been heavily focused on Hispanic migration into the U.S., The 2025 Hispanic Market Report from Claritas highlights the fact that this gr...
21/10/2025
MAIDENHEAD, UK RWS has hired Michael Wayne as its head of media and entertainment in Los Angeles where he will lead the company's media localization busines...
21/10/2025
Imagine Communications and Rohde & Schwarz today announced a definitive agreement under which Imagine will acquire Pixel Power Limited, a wholly owned subsidiar...
21/10/2025
Atlanta DTH (ADTH) today announced a major update that will expand the functionality of its NEXTGEN TV receiver by enabling gateway capabilities allowing viewer...
21/10/2025
Heartland Video Systems, Inc. (HVS), a premier video systems integration, consulting, and expert ATSC 3.0 implementation firm announces that it has partnered wi...
21/10/2025
QuickLink, the leading provider of award-winning video production and remote guest integration solutions, today announced the appointment of Austin Hinton as it...
21/10/2025
nternet connectivity startup Miri Technologies Inc. will use this week's NAB Show New York as the launch pad for its latest ground-breaking innovation, the ...
20/10/2025
Inside TAMS: How Time-Addressable Media Stores could redefine sports workflows By Paul Markham
Friday, October 17, 2025 - 08:57
Print This Story
A penalty...
20/10/2025
Transformational production: Inside TVN's remote production push for the DFL...
20/10/2025
How NBC Sports Transitioned Stamford Facility to One Format: 1080p HDRMulti-year plan harmonizes workflows, simplifies operationsBy Ken Kerschbaumer, Editorial ...
20/10/2025
NBA on NBC' Studio Production Team Is Ready for Tip-Off With Coast-to-Coast...
20/10/2025
Under pressure: TVN CEO Markus Osthaus considers the German sports broadcasting ...
20/10/2025
(L-R) Maria Dizzia, Carmen Emmi, and Russell Tovey attend the Plainclothes pre...
20/10/2025
In March, we launched Concerts Near You to help listeners find concerts from their favorite artists. Since then, more than 3 million people have used it to disc...
20/10/2025
Em diversas cidades do Brasil, um movimento tem se fortalecido para celebrar o poder, a beleza e a profundidade da criatividade negra. O Dia AMPLIFIKA, agora em...
20/10/2025
In cities across Brazil, a movement is growing that celebrates the power, beauty, and depth of Black creativity. AMPLIFIKA Day, now in its fifth edition, return...
20/10/2025
Airborne Early Warning and Control aircraft rendering...
20/10/2025
DENVER and MUNICH Imagine Communications today announced its plans to acquire Pixel Power Ltd., a wholly owned subsidiary of Rohde & Schwarz. Financial terms of...
20/10/2025
LOS ANGELES G Morgan has joined Globecast, a provider of broadcast, media and entertainment managed services, as executive vice president of sales, Globecast Am...
20/10/2025
PLYMOUTH, Wisc. Heartland Video Systems and Zixi have partnered to enable broadcast-quality live video delivery over any IP network....
20/10/2025
A. R. Rahman on Facing Fear and Finding the Divine In an interview with Berklee President Jim Lucchese, the Oscar-winning composer reflects on how courage and...
20/10/2025
Monday 20 October 2025
To view this content, please enable our use of cookies. ...
20/10/2025
Rohde & Schwarz transfers Pixel Power to Imagine Communications Companies work collaboratively to ensure continuity and ongoing support for existing customers...
20/10/2025
RT 's Prime Time is set to host the final Presidential Election Debate this Tuesday night, October 21, providing an opportunity to hear directly from Irelan...
20/10/2025
NVIDIA and Google Cloud are expanding access to accelerated computing to transform the full spectrum of enterprise workloads, from visual computing to agentic a...
19/10/2025
Back to All News
Sins of Kujo' Comes to Life in New Live-Action Series Set for Spring 2026
Entertainment
19 October 2025
GlobalJapan
Link copied to cl...
18/10/2025
New England Sports Network (NESN) has chosen Harmonic, working with Astound Business Solutions, as its enterprise technology partner to transform primary distri...
18/10/2025
NEW ORLEANS, La. In the run-up to the start of the NBA season, WVUE-TV and Gray Local Media have announced a deal with DirecTV that will greatly expand access t...
18/10/2025
Berklee Celebrates 40 Years of the Fall Together Concert Faculty composers Bob Pilkington and Greg Hopkins are among the featured artists for this year's ...
17/10/2025
NEP Group Receives New Equity Investment From 26North Partners LP, Co-InvestorsCarlyle remains the largest shareholder as the company prepares for the futureBy ...
17/10/2025
Apple Lands Five-Year Deal for F1 Distribution in the U.S.Besides airing on Apple TV, the sport will be amplified on other Apple servicesBy Ken Kerschbaumer, Ed...
17/10/2025
SVG Sit-Down: Marshall Electronics' Bernie Keach on the Future of PTZ Camera...
17/10/2025
L2 Productions' REMI Facility in Austin Can Produce Content From AnywhereMusic festivals, sports events are produced via flypacks and remote control roomsBy...
17/10/2025
By Lucy Spicer
One of the most exciting things about the Sundance Film Festival...
17/10/2025
(L-R) Christopher Meyer, Addison Timlin, Cooper Raiff, Lili Reinhart, Alyah Chan...
17/10/2025
M sica e arte se uniram em uma noite especial na semana passada na ZIV Gallery, ...
17/10/2025
Music and art came together for one special night last week at ZIV Gallery, an i...
17/10/2025
Spotify and FC Barcelona are extending our partnership through 2030, continuing a collaboration that's redefining how fans, players, and artists connect. Th...
17/10/2025
MURRIETA, Calif. The Sports Fishing Championship (SFC) has deployed DigitalGlue's creative.space storage platform to streamline video production by centrali...
17/10/2025
BELLEVUE, Wash. Football continued to cement its reputation as a bulwark of TV advertising in Q3 2025 with new data from iSpot that showed both the NFL and coll...
17/10/2025
The Sports Fishing Championship (SFC), the premier competitive saltwater fishing series, has transformed its production workflow by adopting creative.space, the...
17/10/2025
QuickLink, a leading provider of award-winning multi-camera video productions and remote contribution solutions, announces the release of StudioPro Version 4, ...
17/10/2025
Although the annual Grammy Awards celebration is best known for recognizing achievements in the recording industry, the show often proves a visual spectacle as ...
17/10/2025
OpenDrives, Inc., a leading provider of software-defined data storage and data services, has promoted Alex Dunfey to Chief Technology Officer (CTO) from his for...
17/10/2025
The University of Arizona (UofA) has significantly upgraded its broadcast communication infrastructure with the integration of Riedel Communications' advanc...
17/10/2025
Harmonic (NASDAQ: HLIT) today announced that New England Sports Network (NESN), owned by Fenway Sports Group and Delaware North, has selected Harmonic as its en...
Press release | March 23 2018 
