FMC Technologies, Inc. (NYSE: FTI) today announced that it has broken ground on a new campus at Generation Park, located on the northeast corner of the Sam Houston Tollway (Beltway 8) in Houston, Texas.
Within the next 10 years, the company's goal is to consolidate all of its 10 Houston facilities—including its corporate headquarters—to a single, state-of-the-art campus.
"We believe there is value in bringing all our Houston employees together on a single campus built for our specific business requirements. Creating a unified space that recognizes the changing needs of our expanding workforce and encourages communication and collaboration will make us a better company," said John Gremp, Chairman, President and CEO of FMC Technologies. "We are excited about what the future holds for us."
FMC Technologies is building its new campus on 173 acres that it purchased from McCord Development in late 2012. The company purchased the land at Generation Park to gain the flexibility it needed to expand its facilities and accommodate continued growth. The company also wanted the space to plan an innovative campus with an inspiring and collaborative work environment - and one that promotes a healthy work-life balance through social and interactive spaces, health and fitness facilities, and other employee amenities.
Within the next two years, the company will move approximately 1,800 of its 3,700 Houston employees to the new campus. During this first phase, FMC Technologies will consolidate its western region subsea services operations into a single, 70-acre campus. With more than a million square feet of office and workshop space, this expansion will more than double the region's existing subsea services capacity.
The company's subsea services employees will begin moving to the new campus in early 2016. The timing of additional phases will be driven by the overall business environment and specific operating requirements.
FMC Technologies, Inc. (NYSE: FTI) is a leading global provider of technology solutions for the energy industry. Named by Forbes® Magazine as one of the World's Most Innovative Companies in 2013, the Company has approximately 19,500 employees and operates 30 production facilities in 17 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.
This release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The word "goal" and similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. 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 Company's plans regarding future phases of development of the Generation Park campus. 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, 2013, 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.