|Traded as||Euronext: TEC
|Thierry Pilenko (Chairman & CEO)|
|Products||Project management, engineering and construction for the energy industry|
|Revenue||€10.7 billion (end 2014)|
|€825 million (end 2014)|
|Profit||€437 million (end 2014)|
|Total assets||€14.6 billion (end 2014)|
Number of employees
|38,000 (end 2014)|
Technip S.A. is a company that carries out project management, engineering and construction for the energy industry. Its headquarters are in the 16th arrondissement of Paris. It has about 38,000 employees and operates in 48 countries. Technip shares are listed on the NYSE Euronext Paris exchange and the USA over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPY).
TECHNIP is primarily in Energy business and is active in all the three business segments namely, Subsea, Offshore & Onshore. Around 38,000 in its roles, Technip operates in 48 Countries. In addition to man-power, It owns a fleet of 21 vessels in operation and 6 more under construction. As of the end of 2014, while the operating income of Technip Group from recurring activities stood at ~ Euros 825 million, the total revenues stood at more than Euros 10.7 billion.
Technip was established in 1958 by IFP, Institut Français du Pétrole, as Compagnie Française d'Etudes et de Construction Technip.
In the 1960s, the company saw its first series of international successes with the completion of projects in Africa and Asia. In the 1970s Technip became an international group with the acquisition of an office in Rome and the creation of Technip Geoproduction, a subsidiary specialized in hydrocarbon field equipment. During this period, Coflexip – a firm specialized in the design, manufacture and supply of flexible subsea flowlines – was created by the IFP (French Petroleum Institute) and opened a flexible flowline manufacturing plant in Le Trait, France, as well as offices in Houston, Aberdeen and Rio de Janeiro.
In the 1980s Technip expanded its global presence and opened operating centers in Kuala Lumpur and Abu Dhabi. Coflexip opened a second flowline manufacturing plant in Brazil and branched out into the manufacture of umbilicals with the establishment of the Duco plant in Newcastle, UK.
In the 1990s Technip was listed on the Paris Stock Exchange and Coflexip was listed on the New York Stock Exchange. Coflexip acquired Stena Offshore while Technip became a world-leading engineering group through the acquisition of companies with strong technological expertise: Speichim, Krebs and KTI. Already firmly established in the United States, KTI enabled Technip to set up in North America. Coflexip established a presence in Australia and acquired the Norwegian company Stena Offshore.
In the 2000s, Technip merged with Coflexip, which had just acquired Aker Maritime's Deepwater Division. The unified group is now one of the top five companies worldwide in engineering, technology and services for the energy industry. Many major contracts are signed, notably in the Middle East in the liquefied natural gas (LNG), ethylene and refining sectors. The Technip share was included in the CAC40, the benchmark index on the Paris Stock Exchange, in September 2009.
In 2010 three major assets came into operation: the Technip fleet expanded to 17 vessels with the addition of the Apache II, one of the most advanced pipelay vessels in the industry, and the Skandi Vitoria, a Brazilian-flagged vessel dedicated to the pre-salt market. Asiaflex Products, the Group’s third flexible pipe production plant, located in Tanjung Langsat, Malaysia was inaugurated.
In June 2010 Technip S.A. agreed to pay a $338 million dollar criminal penalty to resolve charges related to the Foreign Corrupt Practices Act (FCPA) for its participation in a decade-long scheme to bribe Nigerian government officials to obtain engineering, procurement and construction (EPC) contracts.
In 2011, Technip acquired Global Industries and substantially expanded its addressable market in subsea. Global Industries' capabilities, offshore heavy lift know-how and assets along with Technip’s unique vertically integrated range of products and services enabled an offer of substantial value in the execution of complex projects from deep-to-shore. The US Securities & Exchange Commission (SEC) filed a lawsuit in the federal Southern District of New York alleging insider trading.
Thierry Pilenko was named Chairman and CEO of Technip in April 2007.
The Chairman & CEO is assisted in his management responsibilities by the EXCOM comprising the two Chief Operating Officers, the Chief Financial Officer, the Director of Human Resources, the General Counsel and one other senior executive from the operational business.
The members of the Executive Committee are:
- Thierry Pilenko Chairman & CEO
- Knut Boe, President North Sea Canada
- John Harrison, General Counsel
- Hallvard Hasselknippe, President Subsea
- Thierry Parmentier, Group HR Director
- Nello Uccelletti, President Onshore/Offshore
- Julian Waldron, Group CFO
The Executive Committee prepares decisions for submission to Technip's Board of Directors, concerning, in particular, the approval of the accounts, the definition of the objectives and budgets, the strategic orientations and the acquisitions or sales of assets and companies. It is also consulted on plans and recommendations for internal auditing, IT and telecommunications, human resources and asset management issues.
The Group's corporate divisions –Finance and Control, Human Resources, General Counsel and Communications, QHSE, Security, and Risk Management– support the Regions and Business Units and report to the Chairman and CEO.
Technip certified as Top Employers
Technip has been certified as a Top Employer 2014 in 19 countries (Australia, Belgium, Brazil, China, Colombia, France, Germany, Indonesia, Italy, Malaysia, Norway, Singapore, Spain, Thailand, The Netherlands, United Kingdom, United States, Venezuela and Vietnam) as well as in two regions (Europe and Asia-Pacific). This independent certification, delivered by the Top Employers Institute, underlines the quality of Technip’s HR policies and the company’s dedication to continuously develop the skills of its people, maximizing their potential and achieving the highest-possible level of performance.
Financial and stock market information
|Operating income from recurring activities||333.2||247.0||656.9||676.7||620.3||709.5||821.7||844.5||825|
The Technip share is listed on Euronext Paris and on the American over-the-counter market.
- ISIN: FR0000131708
- Nominal value: euro
|Years (at 12/31)||2008||2009||2010||2011||2012||2013||2014|
|Number of outstanding shares(in millions) (a)||109||109||110||111||113||113||114|
|Market capitalization (in € millions) (Figures at the closing trade date)||2,380||5,400||7,600||8,040||9,816||7,941||5,631|
The Technip share is included in the Dow Jones Sustainability Index and the Low Carbon 100 index and the ASPI Eurozone.
(a) Does not include the exercise of options arising from the current share purchase or share subscription option plans.
- "Access map." Technip. Retrieved on 26. "89 avenue de la Grande Armée Paris 16"
- Technip aux Etats-Unis: de l’énergie à revendre ! Bourse les Echos, October 18, 2013
- "France's Technip Settles U.S. Bribery Charges". Retrieved 18 February 2015.
- "Bloomberg Business: SEC Alleges Insider Trading". Retrieved 18 February 2015.