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TechnipFMC buys Plexus’ wellhead business

TechnipFMC halts separation in current market environment

Mar 16, 2020
1 min read
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TechnipFMC has announced that due to the change in market conditions from the coronavirus and low oil prices the company has put on hold for now its plans to spin off its onshore/offshore unit.

In a statement, the company said that "market conditions have changed materially due to the COVID-19 pandemic, the sharp decline in commodity prices, and the heightened volatility in global equity markets."

TechnipFMC reiterated that the strategic rationale for the separation remains unchanged. The firm is committed to the transaction and continues its preparations to ensure that the two companies are ready for separation when the markets sufficiently recover.

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