FMC Technologies Inc was incorporated in November 2000 under Delaware law and was a wholly-owned subsidiary of FMC Corporation until its initial public offering in June 2001. It provides technology solutions for the energy industry. It designs, manufactures and services technologically sophisticated systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems for the energy industry. It reports its results of operations in the following reporting segments; Subsea Technologies, Surface Technologies and Energy Infrastructure. Subsea Technologies designs and manufactures products and systems and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil & natural gas. The core competencies of this segment are its technology and engineering expertise. Its production systems control the flow of crude oil & natural gas from producing wells. Surface Technologies designs and manufactures products & systems and provides services used by oil & gas companies involved in land and offshore exploration and production of crude oil & natural gas. It also designs, manufactures and supplies technologically pressure valves, pumps and fittings used in stimulation activities for oilfield service companies and provide fracturing flowback and wireline services for exploration companies in the oil & gas industry. Energy Infrastructure segment includes Principal Products and Services, its Measurement Solutions service design and manufacture measurement systems for use in custody transfer of crude oil, natural gas and refined products. Its Loading Systems provide land and marine-based fluid loading and transfer systems to the oil and gas, petrochemical and chemical industries. Its Material Handling Solutions provide bulk conveying systems to the power generation and mining industries. Its Separation Systems design and manufacture systems that separate production flows from wells into oil, gas, sand and water. Its Automation and Control provide automation, control and information technology for the oil & gas and other industries. It invests in product development to advance technologies necessary to support the current and future technical challenges of its customers. It is also engaged in research and development activities largely directed toward the improvement of existing products and services, the design of specialized products to meet customer needs and the development of new products, processes and services. It business segments purchase carbon steel, stainless steel, aluminum and steel castings and forgings both domestically & internationally. Its Subsea Technologies competes with other companies that supply subsea systems and with smaller companies that are focused on a specific application, technology or geographical niche in which it operate. Companies including OneSubsea, GE Oil & Gas, Aker Solutions and Dril-Quip compete with the Company in the marketplace across its various Subsea Technologies product lines. Its Surface Technologies competes with companies that supply surface production equipment and pressure pumping products, such as Cameron International Corporation, Weir Oil & Gas, GE Oil & Gas and Gardner Denver, Inc. It owns a number of U.S. and foreign patents, trademarks and licenses that are cumulatively important to its businesses. It is exposed to a variety of federal, state, local and international laws and regulations relating to matters such as environmental, health and safety, labor and employment, import and export control, currency exchange, bribery & corruption and taxation.
Benzinga is a fast-growing, dynamic and innovative financial media outlet that empowers investors with high-quality, unique content.