Fluor Corporation Named by Westinghouse Electric Company to Manage Construction of Nuclear Power Projects

Company to support transition planning and develop definitive agreements related to Plant Vogtle Units 3 & 4 and Generating Units at the V.C. Summer Nuclear Station

Tuesday, October 27, 2015 6:03 pm EDT

Dateline:

IRVING, Texas

Public Company Information:

NYSE:
FLR
US3434121022
"We are very pleased with the vote of confidence that Westinghouse and the nuclear facility owners have placed in our company to manage the construction of these two U.S. nuclear mega-projects"

IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) confirmed today that it has been named by Westinghouse Electric Company, LLC (Westinghouse), to manage construction of two Westinghouse AP1000® nuclear power reactor projects in Georgia and South Carolina – owned and operated by Southern Company and SCANA/Santee Cooper, respectively. Fluor will immediately engage as a subcontractor to Westinghouse in the development of transition plans and definitive agreements.

In a news release issued earlier today, Westinghouse confirmed that Fluor will manage a significant portion of the construction of Vogtle Electric Generating Plant’s Units 3 & 4 near Waynesboro, Georgia, and two additional nuclear electric generating units at the V.C. Summer Nuclear Generating Station located in Fairfield County, South Carolina and will be providing project execution and direction, accountability for and management of professional staff and craft personnel, and a focus on safety, quality and project delivery certainty. Fluor’s management plans for construction would become effective at the close of the acquisition that Westinghouse also announced.

“We are very pleased with the vote of confidence that Westinghouse and the nuclear facility owners have placed in our company to manage the construction of these two U.S. nuclear mega-projects,” said Fluor Chairman and Chief Executive Officer David Seaton.

Fluor will begin work immediately under a professional services agreement to assess the two projects, engaging the workforce and planning a transition of duties and responsibilities required to develop appropriate plans to manage plant construction. Fluor and Westinghouse have further agreed that Fluor’s scope will be performed on a cost reimbursable basis, without liability for pre-existing conditions associated with prior construction.

Fluor said it expects to book an award in the fourth quarter of 2015 related to these projects.

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 and integrated 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 136 on the FORTUNE 500 list. With 40,000 employees worldwide, the company's revenue for 2014 was $21.5 billion. Visit Fluor at www.fluor.com and follow on Twitter @FluorCorp.

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Jason Landkamer, 469-398-7222

   

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