FMC Technologies Inc. increased its ownership stake in CDS Engineering BV from 91% to 100%.
CDS Engineering is a leading provider of gas and liquids separation technology and equipment for both onshore and offshore applications and floating production systems. FMC Technologies purchased a majority ownership of CDS Engineering in 2003 and subsequently increased its ownership stake to 91% in April 2007.
"Our relationship with CDS has been a significant factor in the expansion of our portfolio of subsea technologies," said Peter Kinnear, president and CEO of FMC Technologies. "By assuming a 100% stake in CDS, we can further leverage their expertise and innovative technologies, strengthening our leadership position in the growing subsea separation market."
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.
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