TechnipFMC postpones planned separation

Source: press release, 15 March 2020

photo: TechnipFMC
photo: TechnipFMC

Citing market conditions due to the COVID-19 pandemic, resulting in the sharp decline in commodity prices, and the heightened volatility in global equity markets, TechnipFMC has announced that the planned separation into TechnipFMC and Technip Energies will be postponed until conditions are more favourable.

The company asserts that although the impacts of these events have created a market environment that is not currently conducive to the planned separation the strategic rationale for the separation remains unchanged. TechnipFMC maintains that it is committed to the transaction and continues preparations to ensure that the two companies are ready for separation when the markets sufficiently recover.