FMC Technologies announces 'when issued' public market in spinoff of John Bean

By Lisa Kerner

Charlotte, N.C., July 17 - FMC Technologies, Inc. said a "when issued" public market will begin Friday on the New York Stock Exchange in conjunction with the company's spinoff of John Bean Technologies Corp.

As previously reported, John Bean common stock will trade under the symbol "JBT WI." FMC Technologies will trade under "FTI WI" and exclude the dividend of John Bean common stock.

During this time, FMC Technologies shares will also trade "regular way" under the symbol "FTI" and include the dividend.

The board of directors of FMC Technologies approved the spinoff by declaring a tax-free dividend of John Bean common stock, it was previously reported.

FMC Technologies said the dividend of 0.216 shares of John Bean common stock will be distributed at the close of business on July 31 to FM Technologies shareholders of record as of July 22.

In addition, John Bean will pay a cash dividend of approximately $175 million to FMC Technologies on July 31, according to an FMC Technologies news release.

In October 2007, FMC Technologies announced it would combine its FoodTech and Airport Systems businesses into a separate, publicly traded company.

Houston-based FMC Technologies designs, manufactures and services machinery and systems for the energy industry.

John Bean is a technology solutions provider to high-value segments of the food processing and air transportation industries.

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