FMC Tech to Acquire 45% of Schilling Robotics

Tuesday, December 30, 2008

FMC Technologies, Inc. (NYSE: FTI) and Schilling Robotics announced that they have entered into a definitive agreement whereby FMC Technologies will acquire a 45% interest in Schilling Robotics LLC for $116m in a transaction expected to close no later than December 31, 2008. The acquisition is expected to be accretive to FMC Technologies’ earnings per share in 2009.

FMC Technologies is a manufacturer and supplier of subsea production systems.  Schilling Robotics is a producer of ROVs (remotely operated vehicles), ROV manipulator systems, control systems, and other technology equipment and services for oil and gas subsea exploration and production.

FMC Technologies Chairman, President and CEO, Peter D. Kinnear said, “This is a unique and exciting opportunity to expand our subsea business in a new direction.  Our global subsea franchise will assist Schilling Robotics in extending its reach worldwide and better position it to serve its customers.  Additionally, the relationship will allow FMC to participate more fully in the increasing integration of remote activities performed on the seabed such as subsea processing, well intervention and production optimization.”
In addition to its expected purchase of 45% of Schilling by year end, FMC Technologies is acquiring the rights to exercise an option over the two year period beginning in 2012 to acquire the remaining 55% of the company.


Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Woman Medevaced from Cruise Ship off SouthWest Pass

The Coast Guard medevaced a 50-year-old woman from a cruise ship 225 miles southeast of Southwest Pass, Saturday. Watchstanders at Coast Guard District 8 received a call at approximately 9 a.

Demands for Icebreaker Tours Spiral

Plans to terminate commercial tours to the North Pole on the nuclear-powered icebreakers of the Atomflot company in 2016 have surged the demand for these tours.

New Chair for Townsville Port

The Palaszczuk Government has appointed one of Queensland’s most respected businesswomen, Renita Garard as the new Chair of the Port of Townsville. In a statement released earlier today,

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1556 sec (6 req/sec)