FMC Technologies Awarded $30 Million Contract for Remotely Operated Vehicles (ROVs) from Tidewater Subsea
HOUSTON, Dec. 4, 2013 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has received an order from Tidewater Subsea (Tidewater) to supply a fleet of six work-class ROV systems for its subsea operations business. The ROV systems will be supplied by FMC Technologies' Schilling Robotics business unit and are expected to be delivered before the end of 2013. The contract value is approximately $30 million in revenue.
FMC Technologies will supply integrated Heavy Duty work-class ROV systems, which will be mobilized onboard Tidewater's deepwater vessels to service the global oil and gas offshore construction and Inspection, Maintenance, and Repair (IMR) markets.
"FMC Technologies is very pleased to have been awarded this contract by Tidewater," said Tore Halvorsen, FMC Technologies' Senior Vice President, Subsea Technologies. "These Heavy Duty work-class ROV systems will allow Tidewater to further expand its life of field service offering to the oil and gas market."
FMC Technologies, Inc. (NYSE: FTI) is a leading global provider of technology solutions for the energy industry. Named by FORTUNE® Magazine as the World's Most Admired Oil and Gas Equipment, Service Company in 2012, the Company has approximately 19,000 employees and operates 30 production facilities in 16 countries. FMC Technologies designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead systems, high pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry. For more information, visit www.fmctechnologies.com.
This release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The word "estimated" and similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. Known material factors that could cause our actual results to differ from those in the forward-looking statements include the Company's ability to successfully deliver, and Tidewater Subsea's acceptance of, the subsea products ordered. For additional information regarding known material factors that could cause actual results to differ from projected results, please see the Company's Annual Report on Form 10-K for the year ended December 31, 2012, as well as its other filings with the Securities and Exchange Commission. The Company cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update or revise any of its forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.
SOURCE FMC Technologies, Inc.