FMC Technologies picks 10.26% stake in Norway-based Roxar ASA

FMC TechnologiesAmerican oilfield services company FMC Technologies Inc., acting through its wholly owned subsidiary, FMC Kongsberg Holdings AS, and with the assistance of DnB NOR Markets, has bought 25,000,000 shares in Roxar ASA, representing 10.26% of Roxar's outstanding share capital.

Norway's offshore technology firm Roxar is a strategic supplier to FMC Technologies of components for subsea and other applications.

The market analysts feel that this deal will strengthen the relationship between the two companies.

FMC Technologies, Inc. is a leading global provider of technology solutions for the energy industry. The Company designs, manufactures and services technologically sophisticated systems and products. The company has approximately 10,000 employees and operates 23 manufacturing facilities in 19 countries.

Last week, Norwegian conglomerate Kongsberg Gruppen upped its stake in Roxar to 15.5 from 4.0 percent.

Business: 
Companies: