Technip Energies France, a subsidiary of Technip Energies NV (PARIS: TE) (ISIN: NL0014559478), has agreed to resolve its outstanding matters with the French Parquet National Financier (PNF). The resolution encompasses historical conduct that related to subsea projects undertaken by the former Technip S.A. group between 2008 and 2012.
This settlement, in the form of a Convention Judiciaire d'Intérêt Public (CJIP), was signed on 22 June 2023 and remains subject to final approval by the President of the Tribunal Judiciaire of Paris at a hearing scheduled on Wednesday 28 June 2023.
Under the terms of the CJIP, Technip Energies France agreed to pay by 23 October 2023 a public interest fine of €54.1 million. €24.7 million of this amount will be indemnified by TechnipFMC under the terms of the Separation and Distribution Agreement between TechnipFMC and Technip Energies, dated 7 January 2021.
Upon its creation in 2021, Technip Energies N.V. implemented a robust compliance program. The Company is committed to maintaining the highest compliance standards, processes, and controls to safeguard its businesses across all countries of operation.
Technip Energies France fully cooperated with the PNF and will continue to cooperate in accordance with its commitments under the CJIP.
The CJIP does not involve any admission of liability or guilt and Technip Energies France will not be subject to a monitorship.
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 35 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) trading over-the-counter in the United States.
For further information: www.technipenergies.com.
All or part of the information included in this press release was qualified by Technip Energies, before its publication, as inside information within the meaning of article 7.1 of Regulation (EU) 596/2014 of 16 April 2014. • Person in charge for notification for Technip Energies: Michael T. McGuinty, Chief Legal Officer.
Important Information for Investors and Securityholders
This Press Release contains forward-looking statements that reflect Technip Energies’ (the “Company”) intentions, beliefs or current expectations and projections about the Company's future results of operations, anticipated revenues, earnings, cashflows, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are often identified by the words “believe”, “expect”, “anticipate”, “plan”, “intend”, “foresee”, “should”, “would”, “could”, “may”, “estimate”, “outlook”, and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While the Company believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that the Company anticipates.
All of the Company’s forward-looking statements involve risks and uncertainties, some of which are significant or beyond the Company’s control, and assumptions that could cause actual results to differ materially from the Company’s historical experience and the Company’s present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.
For information regarding known material factors that could cause actual results to differ from projected results, please see the Company’s risk factors set forth in the Company’s 2022 Annual Financial report filed on March 10, 2023, with the Dutch Authority for the Financial
Markets (AFM) and the French Autorité des Marchés Financiers which include a discussion of factors that could affect the Company's future performance and the markets in which the Company operates.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The Company undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
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