FMC Technologies (NYSE:FTI) is a global provider of technology solutions for the energy industry. It designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry. Its operations are aggregated into two reportable segments: Energy Production Systems and Energy Processing Systems.
On July 31, 2008, FTI spun-off its FoodTech and Airport Systems businesses, which are now known as JBT, through a tax-free dividend to its shareholders. FTI distributed 0.216 shares of JBT common stock for every share of FTI stock outstanding as of the close of business on July 22, 2008. FTI did not retain any shares of JBT common stock. 
On 16 Jan 2009, FTI struck a $140 million deal with BP (BP) to make and supply subsea equipment for a development located off the shore of Angola. The deal will allow FTI to increase their portfolio in subsea systems business.
FTI designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry.
Energy Production Systems designs and manufactures systems and provides services used by oil and gas companies involved in land and offshore, including deepwater, exploration and production of crude oil and gas. Principal products are Subsea Systems, Surface Wellheads, Separation Systems, and Multi Phase Meters.
Energy Processing Systems designs, manufactures and supplies technologically advanced high pressure valves and fittings for oilfield service customers. The company also manufactures and supplies liquid and gas measurement and transportation equipment and systems to customers involved in the production, transportation and processing of crude oil, natural gas and petroleum-based refined products.
On 16 Jan 2009, FTI struck a $140 million deal with BP (BP) to increase their portfolio in subsea operations located off the shore of Angola. The deal will allow FTI to increase their portfolio in subsea energy exploration business. This trend in production is due to the continued high demand for energy, customer exploration and production activities. They continue to be focused in remote deepwater locations with complex recovery challenges. This trend has also led to new and ongoing projects located in the North Sea, in the Gulf of Mexico and offshore Brazil. Furthermore, on 26 Dec 2008, FTI acquired a 45% stake in Schilling Robotics LLC in a move to expand its subsea energy exploration business further. The $116 million deal will allow FTI the right to buy the rest of Schilling Robotics between 2012 and 2014..
As mentioned, FTI is a global that reaches out to over 90 different countries. The notable projects that have large foreign currency translation are located offshore West Africa, the North Sea, in the Gulf of Mexico and offshore Brazil.
Energy Systems businesses are substantially dependent on conditions in the oil and gas industry and that industry’s willingness and ability to spend capital on the exploration for and development of crude oil and natural gas. The level of spending is generally dependent on current and anticipated crude oil and natural gas prices, which have been volatile in the past.
Energy Production Systems competes with other companies that supply subsea systems, surface production equipment, and separation systems, and with smaller companies that are focused on a specific application, technology or geographical niche in which they operate. While FoodTech competes with a variety of local and regional companies typically focused on a specific application, technology or geographic area, and with a few large multinational companies. Lastly, Airport Systems competes with a variety of local and regional companies typically focused on a specific application, technology or geographic area, and with a few large multinational companies, including ThyssenKrupp Airport Systems, S.A. and Téléflex Lionel-Dupont (TLD).
Cameron Corporation (CAM) and Emerson Electric Company (EMR) are their main competitors- Cameron Corporation (CAM) - Cameron International Corporation provides flow equipment products, systems, and services to oil, gas, and process industries worldwide. It operates in three segments: Drilling and Production Systems, Valves and Measurement, and Compression Systems. Their business segments include spare parts, technical services, repairs, overhauls, and upgrades. The company was founded in 1833 and is headquartered in Houston, Texas.
Emerson Electric Company (EMR) - Emerson Electric Co., a diversified global technology company, engages in designing and supplying product technology and delivering engineering services to various industrial and commercial, and consumer markets worldwide. The company operates through five segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Appliance and Tools.