TechnipFMC completes spinoff of Technip Energies segment

TechnipFMC PLC on Feb. 15 said it has completed its previously announced plan to spin off its Technip Energies segment, according to a news release.

TechnipFMC said it is now positioned to help its customers access traditional and new energy resources while slashing carbon intensity and underpinning their energy transition goals. TechnipFMC will provide technology to the traditional and new energies industry through its subsea and surface technologies segments.

Technip Energies serves as an engineering and technology company for the energy transition, with positions in LNG, hydrogen and ethylene, among other spaces. Technip Energies' technical reference price was set at €9.00 ahead of its direct listing on the Euronext Paris Exchange, where the company will trade under the symbol TE.

In addition, Technip Energies named Simon Eyers as a new board member, effective Feb. 16. Eyers previously was a managing director and senior adviser at private equity firm Warburg Pincus International.