Fluor Wins New Polymers Plant Contract in Saudi Arabia

Plant will be first Super Absorbent Polymer facility ever built in Saudi Arabia

Tuesday, August 16, 2011 4:01 pm EDT

Dateline:

IRVING, Texas

Public Company Information:

NYSE:
FLR
US3434121022
"SAPCo’s confidence in Fluor’s ability to successfully execute this project reflects well upon our more than 60 year track record performing chemicals, plastics and oil & gas projects in Saudi Arabia"

IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that the company has been awarded an engineering, procurement and construction (EPC) contract by SAPCo, a joint venture company being formulated between Saudi Acrylic Acid Company and Evonik Industries, for its Super Absorbent Polymer Project (SAP) in Jubail, Saudi Arabia. Fluor booked the undisclosed contract value in the second quarter of 2011.

“SAPCo’s confidence in Fluor’s ability to successfully execute this project reflects well upon our more than 60 year track record performing chemicals, plastics and oil & gas projects in Saudi Arabia,” said Peter Oosterveer, president of Fluor’s Energy & Chemicals Group. “The growing interest in chemicals and plastics capital development projects in the Middle East and throughout the world plays well into our long-term global leadership role in developing such projects.”

The SAP project work is under way and is expected to be completed and commissioned by the fourth quarter of 2013. The end product, super absorbent polymer, is used in the manufacture of disposable diapers. This SAP project is part of a larger program being developed by Saudi Acrylic Acid Company, for which Fluor has been engaged since the early developments of the project.

Nearly 200 professional staff in Fluor’s Haarlem, Manila and Al Khobar offices (Netherlands, Philippines and Saudi Arabia respectively) will be engaged on the project, plus a construction staff of nearly 700 workers at peak.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in the fields of engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenue of $20.8 billion in 2010. For more information, visit www.fluor.com.

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Fluor Corporation
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Keith Stephens, 469-398-7624
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Brian Mershon, 469-398-7621
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Investor Relations
Ken Lockwood, 469-398-7220
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Jason Landkamer, 469-398-7222

   

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