FMC Technologies Increases Ownership of CDS Engineering BV

    HOUSTON, April 3 /CNW/ - FMC Technologies, Inc. (NYSE:  FTI) announced
today that it has increased its ownership stake in CDS Engineering BV ("CDS").
The Company has amended its Sale and Purchase Agreement with minority
shareholders of CDS, increasing FMC Technologies' ownership stake in CDS from
50 percent to 91 percent. The Company made an initial payment of $40 million
to acquire the increased ownership, and has a future commitment in 2009 and
2011 based partially on performance.

    FMC Technologies purchased a majority ownership of CDS Engineering in
August of 2003. The Company previously committed to purchase the remaining
minority percentage in 2009 based on an approximate multiple of 6.5 times the
average earnings before interest, taxes, depreciation and amortization
(EBITDA) of 2007 and 2008. The amended agreement accelerates the purchase at
approximately the same multiple of EBITDA as originally agreed.

    "We are excited about the future growth opportunities in subsea
separation, and CDS is a critical element of our subsea processing
technologies," said Peter Kinnear, President and CEO, FMC Technologies.
"Greater participation in CDS processing technologies combined with our subsea
business will allow us to enhance our technology leadership in subsea

    FMC Technologies, Inc. (NYSE:  FTI) is a leading global provider of
technology solutions for the energy industry and other industrial markets. The
Company 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. The
Company also produces food processing equipment for the food industry and
specialized equipment to service the aviation industry. Twice named as the
Most Admired Oil and Gas, Equipment Service Company by FORTUNE magazine, FMC
Technologies employs approximately 11,000 people and operates 33 manufacturing
facilities in 19 countries. (

    This release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
are information of a non-historical nature and are subject to risks and
uncertainties that are beyond the Company's ability to control. These risks
and uncertainties are described under the caption "Risk Factors" in the
Company's Annual Report on Form 10-K for the year ended December 31, 2006 and
may be modified in subsequent quarterly reports filed by the Company with the
Securities and Exchange Commission that may be accessed on the Company's
website. The Company cautions shareholders and prospective investors that
actual results may differ materially from those indicated by the
forward-looking statements.

For further information:

For further information: FMC Technologies, Inc., Houston Investors:
Maryann Seaman, 281-591-4080 or Media: Bruce Bullock, 281-591-4429

Organization Profile

FMC Technologies Canada Ltd.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890