FTI
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0.69
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History
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History

1880s

 

  • John Bean invents a continuous spray pump to battle scale in his almond orchards. Neighboring growers clamor for the innovative device and a new business is born.

1920s

 

  • John Bean stock (FMC) introduced to the San Francisco Exchange. John Bean Mfg. Company becomes Food Machinery Corporation and citrus packing, fruit handling and treating companies are added.

1930s

 

  • Acquired Peerless Pumps, a West Coast manufacturer of deep-well turbine pumps.
  • FMC is the world's largest manufacturer of equipment for handling fruits, vegetables, milk, fish and meat and is now the industry leader in turbine pump sales. Its pumps are used in water projects during the Great Depression. 

1940s

 

  • FMC enters the defense business and begins producing amphibious vehicles for the military.
  • With the acquisition of the Westvaco Chemical Corporation in 1948, FMC's name changed to Food Machinery and Chemical Corporation to more accurately reflect the company's expansion into the chemical business.

1950s

 

  • In 1954, Petro-Tex, a joint venture, is formed with Tennessee Gas Transmission Company to create what would later become known as Tenneco.
  • In 1955, Chiksan and WECO acquired.
  • In 1957, FMC acquires Oil Center Tool Company (OCT), recognized as a leading manufacturer of high-pressure wellhead flow control assemblies, also known as “christmas trees.”

1960s

 

  • FMC develops underwater wellhead equipment for offshore drilling.
  • FMC divides its operations into four groups: Machinery, Chemical, Fiber and Film, and Ordnance.

1970s

  • Corporate FMC trademark is created and launched.

1980s

  • FMC makes initial investments in subsea wellhead and completion systems product lines marking the beginnings of FMC Energy Systems. 
  • Establishes FMC Gold Company, a profitable precious metal producer. The business was later reincorporated in Canada with a subsidiary of Meridian Gold Inc in 1996.

1990s

  • Purchased Kongsberg Offshore in 1993 making FMC the world's largest subsea engineering, procurement and construction company.
  • FMC’s defense business combined with Harsco to create the joint venture, United Defense, L.P. in 1994, which is later sold to The Carlyle Group in 1997.
  • Acquired National-Oilwell Fluid Control Systems in 1994. 
  • In 1995, FMC purchased Smith Meter, the industry's leading name in liquid measurement for the oilfield industry. 
  • FMC makes further investments in deepwater subsea technologies with the purchase of CBV Subsea, Brazil's leading supplier to the subsea oilfield exploration industry in 1998. 
  • The HOST template solution was developed, dramatically reducing subsea installation costs.

2000

  • FMC announces plans to restructure the company into two separate, publicly traded companies - a machinery business (FMC Technologies) and a chemicals business (FMC Corporation).

2001

  • FMC Technologies, Inc. begins trading on the New York Stock Exchange on June 14 under the Ticker Symbol FTI and becomes a separate, independent company December 31. 
  • Begins offering electric subsea chokes and manifolds.

2002

  • Developed world’s first major High Pressure/High Temperature vertical subsea tree system for BP's Thunder Horse field.

2003

  • Acquired controlling interest (55%) in CDS Engineering, a developer of unique oil/gas separation technology.

2004

  • Achieved world water depth record of 7,570 feet with the installation of subsea trees for Shell on the Coulomb project (Gulf of Mexico).

2005

  • Awarded contract for StatoilHydro’s Tordis field, the world’s first full-scale commercial subsea separation, boosting and injection system. 
  • Chosen to provide StatoilHydro with Subsea Riserless Light Well Intervention technology.

2006

  • FMC Technologies receives second award to provide subsea processing technology for Shell’s BC-10 project, located offshore Brazil.
  • Acquired Galaxy Oilfield Service Ltd., the market leader in the supply of unique, high temperature equipment used in the thermal well production of Canada's oil sands.

2007

  • Awarded contract to supply subsea gas compression control systems to StatoilHydro as part of a major qualification program for a subsea gas compression system within its Åsgard field in the North Sea.
  • Subsea horizontal electric submersible pumping is used for Petrobras’ Cascade and Chinook project, a new technology in the Gulf of Mexico.
  • Set new deepwater completion record of 8,995 feet for the Independence Hub project in the Gulf of Mexico.
  • Received award from Shell for the Perdido field. This is the first full-field subsea separation and pumping system in the Gulf of Mexico.
  • Increased ownership in CDS Engineering to 100%. 
  • FMC Technologies announces a two-for-one stock split.

2008

  • Awarded largest contract in history to supply subsea processing and production systems to Total for its Pazflor field located offshore Angola.
  • FoodTech and Airport Systems businesses spun-off into a separate publically-traded company called JBT on July 31.
  • First to supply offloading systems for LNG floating production vessels.
  • FMC Technologies acquired a 45% interest in Schilling Robotics LLC, a leading producer of ROVs (remotely operated vehicles), ROV manipulator systems, control systems, and other high-technology equipment and services for oil and gas subsea exploration and production.
  • Set new deepwater completion record of 9,356 feet at the Silvertip field, part of the Perdido Development located in the Gulf of Mexico.

2009

  • Awarded contract by Anadarko Petroleum for the oil and gas industry's first 20,000 psi subsea wellhead system.
  • FMC acquired Multi Phase Meters AS (MPM), based in Stavanger, Norway.  MPM is a global leader in the development and manufacture of high-performance multiphase flow meters for the oil and gas industry.