TechnipFMC plc Ordinary Share - FTI STOCK NEWS

TechnipFMC (NYSE: FTI) announced that its joint venture, CTJV, received a major EPCC contract from Qatar Petroleum for the North Field East Project. This contract includes the delivery of four LNG mega trains, each capable of producing 8 Mtpa. The project aims for a significant reduction in greenhouse gas emissions and will increase Qatar's LNG production from 77 Mtpa to 110 Mtpa. Arnaud Pieton, President of Technip Energies, emphasized the project's importance for low carbon LNG and energy transition. A major contract is defined as exceeding $1 billion.

TechnipFMC (NYSE:FTI) will announce its fourth quarter 2020 earnings on February 24, 2021, after NYSE close. A teleconference for the earnings release is scheduled for February 25, 2021, at 1 p.m. London time (8 a.m. New York time). Interested participants can join via specified telephone numbers or access a webcast. The company operates in three segments: Subsea, Surface Technologies, and Technip Energies, focusing on innovative technologies to improve project efficiency in the energy sector.

TechnipFMC plc (NYSE: FTI) announced detailed plans for its spin-off into two independent companies: TechnipFMC and Technip Energies. The transaction entails a share dividend distribution, where shareholders will receive one Technip Energies share for every five TechnipFMC shares held. The last trading day for rights to Technip Energies shares is February 12, 2021, with shares starting independent trading on February 16, 2021. Technip Energies will also establish an ADR program in the U.S., while fractional shares will be converted into cash payments for shareholders.

TechnipFMC (NYSE:FTI) has announced plans to list shares of Technip Energies on Euronext Paris. This follows the company's strategy to separate into two independent publicly traded companies. The spin-off aims to be completed in Q1 2021, pending regulatory approvals. A virtual Capital Markets Day is scheduled to discuss the separation details, with a webcast available on TechnipFMC's investor relations site. CEO Arnaud Pieton emphasized Technip Energies' strong position in the energy transition market, especially in LNG and hydrogen, highlighting revenue visibility and growth potential.

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.