FMC Technologies Provides Update on the Sonatrach Project.HOUSTON -- FMC Technologies FMC Technologies, Incorporated (NYSE: FTI), is an American machinery and oil services technology company. FMC Technologies was incorporated in 2000 when FMC Corporation divested its machinery businesses. FMC Technologies Inc. Inc. (NYSE NYSE See: New York Stock Exchange :FTI FTI Free thyroxine index, see there ) announced today that its Floating Systems subsidiary has received final customer acceptance of the Sontrach project, an offshore oil loading project in Algeria for Sonatrach-TRC, the Algerian Oil and Gas Company. The Company has completed final testing of the installed equipment at all three sites; Bejaia, Arzew and Skikda. "We are pleased to report the completion of this project and the receipt of customer acceptance from Sonatrach," said Joseph H. Netherland, Chairman, and Chief Executive Officer. FMC Technologies continues to negotiate various cost recovery claims concerning delays and work stoppages with Sonatrach. At this time, the Company cannot provide assurances regarding the timing of the resolution of these claims or that they will be on terms favorable to FMC Technologies. FMC Technologies, Inc. (www.fmctechnologies.com) is a global leader providing mission-critical technology solutions for the energy, food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. and air transportation industries. FMC Technologies designs, manufactures and services technologically sophisticated systems and products for its customers through its Energy Systems (comprising Energy Production Systems and Energy Processing Systems), FoodTech and Airport Systems businesses. FMC Technologies employs approximately 10,000 people and operates 32 manufacturing facilities in 17 countries. This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond the Company's ability to control. Forward-looking statements are qualified in their entirety by the cautionary language set forth in the Cautionary Note Regarding Forward-Looking Statements in Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2005. The Company cautions shareholders and prospective investors that actual results may differ materially from those indicated by the forward-looking statements. |
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