Technip and FMC shareholders voted in favour of their business combination

United Kingdom: Technip S.A. and FMC Technologies Inc. in joint statement confirmed that their shareholders have voted in favor of their proposed business combination. On December 5, 2016, FMC Technologies and Technip had a special meeting with their shareholders. In addition, Technip also had a special meeting with their shareholders, who hold double voting rights. The proposed merger of the two companies is subjected to regulatory approvals & consents and other customary closing conditions. The completion date is supposed to be set by the Chancery Division of the High Court of Justice, and the order is expected to be issued on 21 December 2016. Mergers and acquisitions often lead to an increased value generation for the company. Moreover, mergers and acquisitions generally succeed in generating cost efficiency through the implementation of economies of scale.

TechSci Research depicts that mergers and acquisitions generally succeed in generating cost efficiency through the implementation of economies of scale. This merger would drive the demand for industrial valve globally. Large scale construction of coal-fired plants in China and India, and combined-cycle natural gas power plants in the US and other European countries, is expected to drive global industrial valves market during next five years. Moreover, recovering oil prices, increasing exploration & production activities and rising investments in oil refining are some of the other major factors anticipated to propel global industrial valves market over the next five years.

According to released report of TechSci Research “Global Industrial Valves Market By Type (Globe, Butterfly, Ball, Gate, Plug and Others), By Application (Oil & Gas, Power, Municipal, Refining, Chemical and Others), By Region, Competition Forecast and Opportunities, 2011 – 2021”, global industrial valves market is projected to cross $78 billion by 2021, due to recovering oil prices, increasing exploration & production activities and rising investments in oil refining.