This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Sulzer Pumps And FMC Technologies Sign A Long-term And Exclusive Collaboration Agreement On Subsea Pumps

HOUSTON, Feb. 5, 2013 /PRNewswire/ -- Sulzer Pumps Ltd and FMC Technologies, Inc. (NYSE: FTI) strengthened their existing relationship through the signing of a long-term and exclusive collaboration agreement. This agreement addresses the supply of pumps for subsea applications and the further development of pumping technology of Sulzer Pumps to meet the future needs of FMC Technologies and the subsea exploration and production industry. 

Through this agreement, both companies aim to further leverage leading-edge technology that they have already been collaborating on such as world-class pumps from Sulzer Pumps, and subsea systems and advanced permanent magnet motor technology from FMC Technologies.

"The signing of this long-term and exclusive collaboration agreement is a natural progression of the long-standing cooperation already in place between Sulzer Pumps and FMC Technologies," said Tore Halverson, Senior Vice President of Subsea Technologies, FMC Technologies.

"We look forward to providing the subsea market and customers with best-in-class pumping technology for many years to come," said Kim Jackson, Divisional President of Sulzer Pumps.

Over the last several years, Sulzer Pumps and FMC Technologies have developed, built and qualified a new, high-speed helico-axial multiphase subsea boosting unit based on Sulzer Pumps' world-renowned, market-leading, and field-proven topside pump designs. To prove the technology, a full-scale, complete pump/motor unit has been built, fully submerged and successfully tested at Sulzer Pumps' engineered test pool in Leeds, United Kingdom. The pump is driven by a permanent magnet motor that provides, among other benefits, higher speeds, power and efficiency compared to conventional induction motors. This solution will offer high-performance, reliable and cost-effective subsea boosting systems to FMC Technologies` customers and to the oil and gas upstream market.

Sulzer Pumps media enquiries : Jocelyn Chang, Global Media, Events & Segments Marcomm Manager, Sulzer Pumps Ltd Tel +41 52 262 3904, jocelyn.chang@sulzer.com

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 16,800 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.

Sulzer Pumps designs, develops and supplies pumping solutions and related equipment worldwide. Intensive research and development in fluid dynamics, process-oriented products, and special materials as well as reliable service solutions help the company maintain its leading position in its focus market segments. Our customers come from the oil and gas, hydrocarbon processing, power generation, pulp and paper, water and wastewater sectors, as well as from specialized areas in the general industry. The company has a network of 21 manufacturing facilities worldwide and sales offices and service centers in 150 locations globally. A global leader in its selected markets, Sulzer Pumps had sales of CHF 1'747.8 million in 2011 and employs around 8'200 people worldwide. For more information, visit: www.sulzer.com

This release contains "forward-looking statements," such as statements related to the future expectations regarding the collaboration, as defined in the Private Securities Litigation Reform Act of 1995.  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 companies' ability to negotiate contracts with future customers, operate and deliver services to such customers and our ability to integrate our products and technologies with those of Sulzer Pumps.  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, 2011, 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. 

(Logo:  http://photos.prnewswire.com/prnh/20081222/LAM028LOGO)

SOURCE FMC Technologies, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs