Technip shares fell sharply in Paris yesterday as investors reacted to the French energy service company’s plans to axe 6,000 jobs globally.
The stock was down by more than 8%, wiping hundreds of millions of pounds off the firm’s market value.
A spokeswoman for Technip in Westhill, Aberdeenshire, where the group employs around 1,200 people was unable to shed any light yesterday on where the job cuts are likely to come.
The firm also has a spoolbase at Evanton on the Cromarty Firth, where it employs 10 people.
Technip has entered into an agreement with Air Liquide Global E&C Solutions Germany to purchase all of its Zimmer polymer technology business.
The French services company said the deal will diversify and strengthen its portfolio of downstream technologies in its onshore division.
It follows the announcement by Technip that its bid for CGG was unsuccessful.