TechnipFMC separation on track for completion in first half of 2020

Oilfield services provider TechnipFMC has reaffirmed that its planned transaction to separate into two companies, TechnipFMC and Technip Energies, is well on track for completion in the first half of 2020.

The board of directors of TechnipFMC unanimously approved the company’s plan to separate into two independent, publicly-traded companies in August 2019.

TechnipFMC anticipates completing the transaction in the second quarter of 2020 and intends to host a Capital Markets event in Paris for Technip Energies before completion of the spin-off, the company said on Friday.

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