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TechnipFMC plc provides technology, project execution, products, and services for traditional and new energy markets. News about TechnipFMC centers on its Subsea and Surface Technologies segments, including integrated offshore project awards, subsea equipment and construction activity, and proprietary ecosystems such as iEPCI™, iFEED™, and iComplete®.
Recurring updates also cover quarterly financial results, inbound orders, backlog, cash flow, margin trends, dividends, share repurchases, and shareholder distributions. Company announcements frequently discuss offshore oil and gas development activity, direct customer awards, guidance for Subsea revenue and profitability, and investor conference participation.
TechnipFMC plc (NYSE: FTI) announced the pricing of its offering of $1 billion in 6.500% senior unsecured notes due 2026. This amount has increased from the previously announced $850 million. The proceeds will be used to repay existing debt, cover Spin-off-related costs, and for general corporate purposes. The anticipated Spin-off into TechnipFMC and Technip Energies is expected in Q1 2021, with conditions for redemption of the notes if not completed by July 31, 2021. The offering is exempt from registration under U.S. securities laws.
TechnipFMC (NYSE:FTI) will host a Capital Markets Day on January 28, 2021, to discuss its planned spin-off of Technip Energies. This event aims to showcase Technip Energies’ project delivery capabilities, strategic vision, and financial performance. Executives, including CEO Arnaud Pieton and CFO Bruno Vibert, will present insights on the separation process, which is expected to be completed in Q1 2021, pending regulatory approvals. A live webcast will be available on TechnipFMC’s website, along with an archived presentation for one year.
TechnipFMC plc (NYSE: FTI) announced a private offering of $850 million senior unsecured notes maturing in 2026, aimed to fund existing debt repayment, spin-off expenses, and working capital. This issuance is part of the planned separation into two independent companies: TechnipFMC and Technip Energies, expected to complete in Q1 2021. If the spin-off is delayed past July 31, 2021, TechnipFMC must redeem the notes at their principal amount plus interest. The offering targets qualified institutional buyers and is exempt from the registration requirements of the Securities Act.
TechnipFMC (NYSE: FTI) has appointed Alf Melin as Executive Vice President and Chief Financial Officer, effective January 25, 2021. Melin, a company veteran since 1995, has held key positions in finance and operations, most recently serving as Senior Vice President of Finance Operations. His appointment follows the resignation of Maryann Mannen, who leaves for another opportunity. Doug Pferdehirt, Chairman and CEO, expressed confidence in Melin's ability to lead the finance organization due to his extensive experience and contributions to the company.
TechnipFMC announced the resumption of its separation into two independent companies: TechnipFMC and Technip Energies. This strategic spin-off aims to enhance focus and growth opportunities, allowing both firms to capitalize on market dynamics in the energy sector. The spin-off is expected to be completed in Q1 2021, with TechnipFMC distributing 50.1% of Technip Energies shares to existing shareholders. Bpifrance will invest $200 million in Technip Energies, becoming a significant stakeholder. Both companies are projected to have robust backlogs and a favorable capital structure post-separation.
TechnipFMC (NYSE: FTI) announced that as of November 29, 2020, its capital consists of 449,408,233 ordinary shares with no treasury shares held. This total number of voting rights can be utilized by shareholders for calculations regarding interests in the company as per the Disclosure Guidance and Transparency Rules. The company is recognized as a global leader in the energy sector, operating in Subsea, Surface Technologies, and Technip Energies, with a commitment to innovation and efficiency in project delivery.
TechnipFMC (NYSE:FTI) has met the conditions to start work on an Engineering, Procurement, and Construction (EPC) contract for a new Hydrocracking Complex at the Assiut refinery in Egypt. The contract, valued at over $1.0 billion, includes new process units and supports the Egyptian Government’s Energy Transition strategy. This project aims to transform lower-value petroleum products into approximately 2.8 million tons per year of cleaner products, including Euro V diesel. The award will be recorded in the company's Q4 2020 orders.
TechnipFMC (NYSE:FTI) announced that Arnaud Pieton, President of Technip Energies, will speak at the Berenberg European Conference on November 30, 2020, at 3:00 p.m. GMT. The event will be virtual, and a live webcast will be accessible through the Investor Relations website, although no presentation materials will be provided. TechnipFMC is a global energy industry leader with around 37,000 employees, delivering projects and technologies across three business segments: Subsea, Surface Technologies, and Technip Energies.
TechnipFMC plc (NYSE: FTI) announced a major shareholding notification from Société Générale SA. As of November 25, 2020, Société Générale holds 4.73% of voting rights, a decrease from the previous 5.33%. The breakdown includes 2.25% from direct shares (5,501,586 ordinary shares and 4,594,306 borrowed shares) and 2.48% from financial instruments. The notification reflects changes in major voting rights, marking a key update for investors in the company.
TechnipFMC plc (NYSE: FTI) announced a notification regarding major holdings from Société Générale SA, which has crossed a voting rights threshold. As of November 24, 2020, Société Générale holds 5.33% of voting rights, consisting of 2.67% from direct shares and 2.65% from financial instruments. This is an increase from their previous holding of 4.17%. The notification emphasizes the changes in voting rights that could influence shareholder decisions and market dynamics.