TechnipFMC Completes Separation of Two Industry-Leading, Independent, Publicly Traded Companies

Rhea-AI Summary

TechnipFMC has successfully completed its spin-off, creating two independent companies: TechnipFMC and Technip Energies. The technical reference price for Technip Energies was set at €9.00 ahead of its listing on Euronext Paris under the symbol 'TE'. CEO Doug Pferdehirt stated the separation positions the companies to better serve clients and address energy transformation needs. Additionally, Technip Energies announced the appointment of Simon Eyers to its Board, enhancing its strategic leadership in energy markets.

Positive

• Successful spin-off creates two independent companies, enhancing operational focus.
• Technip Energies positioned to lead in energy transition with innovative technologies.
• Appointment of Simon Eyers to the Board strengthens leadership with extensive energy market experience.

Negative

• None.

Regulatory News:

TechnipFMC (NYSE: FTI) (PARIS: FTI) (ISIN:GB00BDSFG982) TechnipFMC today announced the completion of its spin-off transaction to create two industry leading, independent, publicly traded companies, TechnipFMC and Technip Energies.

In connection with the separation, the Technip Energies technical reference price was set at €9.00 ahead of its direct listing on the Euronext Paris Exchange where it will trade under the symbol “TE”.¹

Doug Pferdehirt, Chairman and CEO of TechnipFMC, stated: “I am delighted to announce the successful completion of the separation transaction. As the market leader and industry’s only fully integrated pure-play, we are uniquely positioned to transform our clients’ project economics, helping them to unlock traditional and new energy resources while reducing carbon intensity and supporting their energy transition ambitions.”

New Board of Directors Appointment for Technip Energies

Technip Energies today announced the appointment of a new member of its Board of Directors, Simon Eyers, effective February 16, 2021. Mr. Eyers previously served as Managing Director of Warburg Pincus International from 2012 to 2018 focusing on energy investments, and as a Senior Advisor until the end of 2020 after retiring from his full-time role. In addition to being a founding partner of 4D Global Energy Advisors, a private equity firm based in Paris specializing in the energy sector, Mr. Eyers also held executive leadership roles in various technology ventures and worked 13 years in energy investment banking at SG Warburg & Co, Goldman Sachs and Credit Suisse First Boston Europe.

"We are pleased to welcome Simon Eyers to the Technip Energies Board," said Arnaud Pieton, CEO of Technip Energies. "Simon’s deep understanding of global energy markets and strong experience with the development of new technologies will be invaluable as we grow our business in the future."

About TechnipFMC

TechnipFMC is a leading technology provider to the traditional and new energies industry; delivering fully integrated projects, products, and services.

With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.

Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.

Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.

TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.

About Technip Energies

Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in LNG, hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO₂ management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies is listed on Euronext Paris. For further information: www.technipenergies.com.

¹ The technical reference price will be used solely for the purpose of setting reservation thresholds for the trading session on Euronext Paris on February 16, 2021 and the determination of the Technip Energies stock price performance for the day. The technical reference price shall have no bearing on the price at which the Technip Energies stock may trade.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210215005412/en/

FAQ

What is the significance of TechnipFMC's spin-off on February 16, 2021?

The spin-off created two independent companies—TechnipFMC and Technip Energies—enhancing their operational focus and market positioning.

What is the initial trading price for Technip Energies on Euronext Paris?

The initial technical reference price for Technip Energies was set at €9.00.

Who was appointed to the Technip Energies Board on February 16, 2021?

Simon Eyers was appointed to the Technip Energies Board, bringing valuable experience in global energy markets.

What does Technip Energies focus on in terms of technology and services?

Technip Energies focuses on engineering and technology for energy transition, including leadership in LNG, hydrogen, and sustainable chemistry.

What is the stock symbol for Technip Energies?

Technip Energies trades under the symbol 'TE' on the Euronext Paris Exchange.