FMC Technologies declared that it has decided to increase its stake in Schilling Robotics.
The company has issued a notice to exercise its share purchase option for the remaining 55% of share in Schilling Robotics. The deal is anticipated to end on 30 March, 2012. The company had bought its existing 45% interest in Schilling Robotics and received the purchase option in 2008.
Schilling specializes in producing remotely operated vehicle manipulator systems, remotely operated vehicles, control systems and other technology equipment and services. These technologies are employed in oil and gas subsea exploration.
Over the past three years, both companies have worked together on various projects and technology advancements. One of the projects includes a novel control system for Petrobras' Congro/Corvina project. The control system will utilize subsea robotics technology to operate the separation station valves.
John Gremp, FMC Technologies’ Chairman, President and CEO, stated that he is delighted that Schilling will become a part of FMC. Schilling’s technologies will enable them to develop more solutions and give them an opportunity to reinforce their subsea leadership position.
Chairman and President of Schilling, Tyler Schilling stated that joining forces with FMC had enabled the company to expand its worldwide presence and provided an opportunity to take part in innovative projects. He added that the company is looking forward to develop novel subsea technologies for its customers.