Offshore staff
PARIS – TechnipFMC has put on hold its planned separation into two new businesses.
Market conditions brought on by the COVID-19 virus pandemic have deteriorated, the company explained, with a sharp decline in commodity prices and heightened volatility in global equity markets.
The present environment therefore does not justify the separation into TechnipFMC and Technip Energies, the company said, although it stressed that the strategic rationale for the separation is unchanged.
It remains committed to the transaction and will continue preparations to ensure that the two companies are ready for separation once conditions have improved.
03/16/2020
