MODEC has bought FMC Technologies Floating Systems for US 54.4m.The company develops and manufactures SOFEC turrets and mooring systems for FPSOs, FSOs and offshore marine loading systems.FMC said it is selling the unit as it: "is not strategically connected to our subsea business and that it requires different core competencies. With this transaction, FMC Technologies is exiting from the floating production systems business."
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