TechnipFMC Starts Trading

TechnipFMC says it is operating as a unified, combined company following completion January 17 of the merger of FMC Technologies and Technip.

The new combined contractor said it is positioned to transform project economics across subsea, onshore/offshore, and surface sectors. The merger was announced in May 2016 as worth $13bn, but its market capitalisation is currently quoted on the Paris stock exchange higher, at €15.6bn ($16.5bn).

The combined company's new logo (Photo credit: TechnipFMC)

TechnipFMC has begun trading on the Euronext Paris Stock Exchange, and at midday local time (11am London) were €33.44, down 1% on the previous close. They will shortly start trading on the New York Stock Exchange. 

FMC shareholders received one share of the combined company for each of their existing FMC shares; Technip shareholders received two shares in the combined company for each existing Technip share. The combined company has 44,000 employees.

Mark Smedley