Fluor Signs Memorandum of Understanding with China National Nuclear Corporation

Thursday, December 4, 2014 5:47 pm EST



Public Company Information:

"We are excited to cooperate with CNNC on potential nuclear and renewable opportunities"

IRVING, Texas & BEIJING--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) signed a memorandum of understanding (MOU) with China National Nuclear Corporation (CNNC) to cooperate on nuclear and renewable energy opportunities in Europe and China. The MOU was signed today in Beijing by Dave Dunning, Fluor executive vice president of business development and strategy, and Qian Zhimin, president of CNNC.

Under the MOU, CNNC and Fluor will cooperate on a broad range of civil nuclear-related opportunities in the U.K., Germany and China. The arrangement also covers work in the renewable energy market including wind farms and solar power projects.

“We are excited to cooperate with CNNC on potential nuclear and renewable opportunities,” said Dave Dunning. “Our clients will benefit from Fluor’s cost-effective, safe and secure solutions that result from decades of experience on nuclear decommissioning efforts and commercial nuclear new-build projects.”

“CNNC is the major investor in the nuclear power stations in operation and under construction in China. It is also the main R&D organization of nuclear technologies, the most important engineering and construction contractor of nuclear power stations and supplier of nuclear fuel,” said Mr. Qian. “CNNC will work with Fluor to explore the full range of cooperation in Europe and China based upon the principles of mutual benefits, win-win and complementary of each other's strengths.”

CNNC is a large Chinese state-owned enterprise with more than 100 secondary member units across 20 provinces, autonomous regions and municipalities and employs 100,000 employees.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that designs and builds some of the world's most complex projects. The company creates and delivers innovative solutions for its clients in engineering, procurement, fabrication, construction, maintenance and project management on a global basis. For more than a century, Fluor has served clients in the energy, chemicals, government, industrial, infrastructure, mining and power market sectors. Headquartered in Irving, Texas, Fluor ranks 109 on the FORTUNE 500 list. With more than 40,000 employees worldwide, the company's revenue for 2013 was $27.4 billion. Visit Fluor at www.fluor.com and follow on Twitter @FluorCorp.


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