TechnipFMC postpones planned separation

UK-based TechnipFMC has confirmed that its plan to separate into two companies has been temporarily postponed.

In a statement released earlier this week, the company said that changing market conditions due to the COVID-19 pandemic, a sharp decline in commodity prices, and heightened volatility in global equity markets have created a market environment that is “not currently conducive” to the planned separation into TechnipFMC and Technip Energies.

TechnipFMC reiterated that the strategic rationale for the separation remains unchanged and the two companies will be ready to proceed with the planned separation “when the markets sufficiently recover.”