Press release | October 19, 2017
TechnipFMC Reaches an Agreement to Acquire Plexus’ Exploration Wellhead Business
LONDON & PARIS & HOUSTON--(BUSINESS WIRE)-- TechnipFMC (Paris:FTI) (NYSE:FTI) (ISIN:GB00BDSFG982) announces that an agreement has been reached with Plexus Holding plc (“Plexus”) to acquire Plexus’s Wellhead exploration equipment and services business for jack up applications. In conjunction with TechnipFMC’s global footprint and market presence, this portfolio expansion in the mudline and high pressure high temperature (HPHT) arena enables TechnipFMC to be a leading provider of products and services to the global jack up exploration drilling market.
The business will be integrated into the TechnipFMC Surface Technologies segment and will include the transfer of key personnel from Plexus, with their specialized know-how, to ensure continuity and ongoing customer support. The business will continue to operate from the existing location in Dyce, Aberdeen, UK. Completion of the transaction is subject to the satisfaction of certain closing conditions.
Richard Alabaster, President of TechnipFMC’s Surface Technologies business, stated: “I am very pleased that we have reached this agreement, which fits within TechnipFMC Surface Technologies’ strategy to extend and strengthen our position in exploration-drilling products and services while leveraging our global field presence. It also enhances TechnipFMC’s capability in HPHT applications.”
Important Information for Investors and Securityholders
This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from the Company’s historical experience and present expectations or projections. These risks, uncertainties and assumptions relate to, among other things, the Company’s ability to consummate the proposed transaction with Plexus, including the satisfaction of the conditions to consummation of the transaction; the Company’s ability to successfully integrate Plexus’ operations and employees; the Company’s ability to realize anticipated synergies and cost savings from the transaction with Plexus; and the potential impact of the announcement or consummation of the transaction with Plexus on relationships, including with employees, suppliers, customers and competitors of the Company and Plexus. For additional information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Registration Statement on Form S-4, Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
TechnipFMC is a global leader in subsea, onshore/offshore, and surface projects. With our proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients’ project economics.
We are uniquely positioned to deliver greater efficiency across project lifecycles from concept to project delivery and beyond. Through innovative technologies and improved efficiencies, our offering unlocks new possibilities for our clients in developing their oil and gas resources.
Each of our more than 40,000 employees is driven by a steady commitment to clients and a culture of purposeful innovation, challenging industry conventions, and rethinking how the best results are achieved.
To learn more about us and how we are enhancing the performance of the world’s energy industry, go to TechnipFMC.com and follow us on Twitter @TechnipFMC.
Matt Seinsheimer, +1 281-260-3665
Vice President Investor Relations
James Davis, +1 281-260-3665
Senior Manager Investor Relations
Christophe Belorgeot, +33 1 47 78 39 92
Vice President Corporate Communications
Delphine Nayral, +33 1 47 78 34 83
Manager Public Relations
Lisa Adams,+1 281-405-4659
Senior Manager Digital Communications