FMC Technologies, Inc. announced that it has given notice to exercise its purchase option for the remaining 55% of outstanding shares of Schilling Robotics LLC. The transaction is expected to close on or about March 30, 2012. FMC purchased its existing 45% interest in Schilling and obtained the purchase option in 2008.
Schilling is a leading producer of remotely operated vehicles (“ROVs”), ROV manipulator systems, control systems and other high-technology equipment and services for oil and gas subsea exploration and production. FMC and Schilling have collaborated on a variety of projects and technology advances over the past three years, including an innovative control system for Petrobras’ Congro/Corvina project that will use subsea robotics technology to operate the manifold and separation station valves.
“We are pleased that Schilling will become part of FMC,” said John Gremp, Chairman, President and CEO of FMC Technologies . “Their technologies will help us develop additional solutions to further strengthen our subsea leadership position.”
Tyler Schilling, Chairman and President of Schilling , added, “ Since partnering with FMC in 2008, we have expanded our global presence and participated in some of the industry’s most innovative projects. Our employees are excited about joining FMC and the future opportunities that exist to develop subsea technologies for our customers.”
FMC Technologies , Inc. 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 2010, the Company has approximately 13,500 employees and operates 27 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.
[mappress] Subsea World News Staff , January 03 , 2012; Image: Schilling