August 6, 2008
FMC Technologies to Supply Marine Loading Systems to Samsung Heavy Industries for Use on Flex LNG Floating Liquefaction Vessels
FMC Technologies, Inc. (NYSE:FTI) announced today that it has received an award from Samsung Heavy Industries Co., Ltd to supply its customer, Flex LNG, with four liquid natural gas (LNG) offloading systems. The order also includes an option for a fifth offloading system. Financial terms were not disclosed.
Each system includes three 16-inch offshore LNG offloading arms, equipped with FMC's patent pending enhanced-connection targeting system as well as a control system. All equipment will be manufactured at FMC's operation in Sens, France. Deliveries are scheduled for 2009 and 2010.
"We are proud to have been selected by Samsung and Flex LNG for this world-first offloading systems order for LNG floating production vessels," said Robert L. Potter, FMC Technologies' Senior Vice President of Energy Processing Systems. "This award follows our recent receipt of five purchase orders to apply the same technology to floating regasification vessels and exposed jetties or platforms. We believe that this is another vote of confidence from the emerging offshore LNG industry for our offshore loading system technology."
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. Named by FORTUNE Magazine as America's Most Admired Oil and Gas Equipment, Service Company in 2005, 2006 and 2008, FMC Technologies employs approximately 10,000 people and operates 33 manufacturing facilities in 19 countries. For more information visit www.fmctechnologies.com.
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 JBT's Registration Statement on Form 10. These risks and uncertainties are also described under the caption "Risk Factors" in FMC Technologies' Annual Report on Form 10-K for the year ended December 31, 2007 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.