FMC Technologies, a manufacturer and supplier of subsea production systems, will buy a 45 percent interest in Schilling Robotics, a 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, for $116 million.

 

The acquisition will result into the partnership between two companies whose innovative technologies enable subsea energy production worldwide.

 

 

“This is a unique and exciting opportunity to expand our subsea business in a new direction,” said Peter D. Kinnear, chairman, president and CEO of FMC Technologies. “Our global subsea franchise will assist Schilling Robotics in extending its reach worldwide and better position it to serve its customers.”

 

“Additionally, the relationship will allow FMC to participate more fully in the increasing integration of remote activities performed on the seabed such as subsea processing, well intervention and production optimization,” Kinnear said.

Also, as part of the deal, FMC Technologies, which employs approximately 10,000 people and operates 23 manufacturing facilities in 19 countries, is acquiring rights to exercise an option to acquire the balance 55 percent stake of Schilling Robotics over a two-year period beginning in 2012.

 

Tyler Schilling, chairman, Schilling Robotics said, “FMC understands and endorses our strategy to introduce innovative digital technologies in response to the growing communications and control challenges facing our customers in the subsea environment. In the last few years we have undertaken numerous initiatives that expand our participation in this major market.”