Feb 23 | 2021
(Europe) New Business Focuses on Energy Transition
Engineering services firm TechnipFMC has completed the spin-off of new engineering services business: Technip Energies.
The new business will provide engineering and technology services for the energy sector, with a particular focus on emerging segments such as liquefied natural gas, blue and green hydrogen, ethylene, sustainable chemistry and CO2 management.
“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,” said Doug Pferdehirt, Chairman and CEO of TechnipFMC.
The long-awaited spin-off was delayed last year due to the global pandemic, with the company citing material changes in market conditions, sharp decline in commodity prices, and heightened volatility in global equity markets.
Trading on Euronext
About 15,000 of TechipFMC’s workforce will be employed by Technip Energies, with about 20,000 remaining part of TechnipFMC.
TechnipFMC will continue its existing strategy focused on fully integrated projects, products and services in two business segments — Subsea and Surface Technologies.
Following the completion of the spin-off transaction Technip Energies was listed on the Euronext Paris Exchange, where its technical reference price was set at €9.00 ahead of direct listing under the symbol TE.
Eyers Joins Board
The new organisation will be overseen by Arnaud Pieton as CEO, with Simon Eyers joining the board of directors.
"We are pleased to welcome Simon Eyers to the Technip Energies Board. 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,” Pieton commented.
Eyers brings a wide range of experience from executive leadership roles across the technology and energy sector, with a focus on energy investment banking.
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