FMC Technologies to Pay $2.5 Mln for Overstating Profits
Energy technology company FMC Technologies Inc will pay a $2.5 million penalty to settle charges that it overstated profits in one of its business segments, the U.S. Securities and Exchange Commission said on Thursday. Two now former executives made the improper adjustments after being pressured to improve the financial performance of the Houston-based company's energy infrastructure department, the SEC said. FMC Technologies and the two executives consented to the SEC's order without admitting or denying the findings, the agency said.
FMC Technologies Bags OTC Award for InLine ElectroCoalescer
FMC Technologies, Inc. won a Spotlight on New Technology award for its InLine ElectroCoalescer, and was recognized at the 2016 Offshore Technology Conference (OTC) in Houston on Monday, May 2. The award recognizes and honors innovative technologies in the oil and gas industry that significantly impact offshore exploration and production. According to FMC Technologies Chairman and CEO, John Gremp, this year’s award is the company’s 13th Spotlight on New Technology award from OTC.
Technip Explores Sale; Talks with FMC Technologies
French oilfield services company Technip is exploring a sale and has held talks with U.S. peer FMC Technologies Inc about a potential combination, according to people familiar with the matter on Wednesday. A deal would illustrate how lower energy prices are driving consolidation in the oil services sector, as companies seek savings and synergies to boost profits amid a supply glut that is weighing on exploration and production. Technip and FMC Technologies, which have market capitalizations of 5.3 billion euros ($5.8 billion) and $6.8 billion respectively…
