Fluor Corporation (NYSE: FLR) today announced that it has chosen the Las
Colinas business community within the city of Irving, Texas, as the
location for its new corporate headquarters.
The decision followed an extensive analysis of several existing
facilities and build-to-suit office locations in the Dallas/Ft. Worth
metroplex. Company officials determined that a build-to-suit location in
Las Colinas is the best setting, given its close proximity to the
Dallas/Ft. Worth International Airport, key client organizations and
desirable residential communities for Fluor employees. It also offers a
strong labor pool, as well as numerous business and community amenities.
"We want the new Fluor Corporation headquarters to be representative of
our company's achievements worldwide and believe that in Las Colinas we
will be able to build a business complex that will serve as the center
of our future success," said Alan Boeckmann, Fluor Corporation chairman
and chief executive officer. "The communities of greater Dallas offer
very good quality-of-life choices for our employees, and Las Colinas is
a location that supports our continuous efforts to enhance operational
efficiency and client focus."
Fluor signed a letter of intent with Koll Development Company to develop
the 26-acre Las Colinas property, located on Las Colinas Boulevard, just
north of Royal Lane and the Citigroup complex. The final contract is
expected to be signed by mid July. Construction will begin in late July.
The new 120,000-square-foot corporate office complex, which is scheduled
for completion in early April 2006, will include a three-story,
dual-wing office building and workplace amenities including an
auditorium, cafeteria and fitness center, all on a campus-like setting.
"We couldn't be more pleased that Fluor Corporation has joined the ranks
of other FORTUNE 500 companies in recognizing that Irving, Texas, is a
great place to do business," said Irving Mayor Herbert Gears. "Fluor is
a highly respected corporation of nearly 40,000 employees worldwide, and
has been a FORTUNE magazine 'Global Most Admired' and 'America's Most
Admired' company. Its presence confirms that Irving is attractive to
many internationally renowned corporations. We proudly welcome Fluor to
our community."
The relocation of Fluor's headquarters follows a series of recent moves
by management to enhance its customer focus. In addition to being closer
to clients that represent approximately 80 percent of Fluor's North
American revenue base, Boeckmann also cited management's desire to move
closer to East Coast financial centers and Washington, D.C.
As many as 100 current employees have been asked to relocate to the new
headquarters, and an equivalent number will be hired there. Fluor will
maintain select corporate functions in Southern California, where it has
been determined these jobs can most effectively serve the company's
needs. In addition, the company's two engineering centers in Aliso Viejo
and Long Beach, which together employ approximately 900 individuals,
will remain in the Southern California community and continue to be an
important part of the company's global resource base.
Fluor announced its plans to relocate its corporate headquarters from
Southern California to a location in the Dallas/Ft. Worth metroplex on
May 10. Cushman & Wakefield is serving as the company's relocation site
evaluation consultant of record.
Fluor Corporation (NYSE: FLR) provides services on a global basis in the
fields of engineering, procurement, construction, operations,
maintenance and project management. Headquartered in Aliso Viejo,
California, Fluor is a FORTUNE 500 company with revenues of $9.4 billion
in 2004. For more information, visit www.fluor.com.
For further information please contact Lisa Boyette, Media Relations,
+1-949-349-3652, or Lila Churney, Investor Relations, +1-949-349-3191,
both of Fluor Corporation.
Lisa Boyette, Media Relations, +1-949-349-3652, or LilaChurney, Investor Relations, +1-949-349-3191, both of Fluor Corporation//Web site: http://www.fluor.com/