Fluor Corporation (NYSE: FLR) announced today that it has signed an
agreement to divest 50 percent of shares in its Spanish operations,
Fluor S.A., to Sacyr Industrial S.L.U., a leading multinational Spanish
construction company. The new entity, SacyrFluor, will be headquartered
in Fluor’s Madrid operations center. The value of the divestiture is €39
million.
SacyrFluor will provide project management, engineering, procurement,
construction management and self-perform construction services for the
energy and chemicals industry in Spain, Southern Europe, North Africa
and certain countries in South America.
“Creating this new company supports Fluor’s global strategy to provide
clients with truly integrated business solutions for their project
needs,” said David Seaton, Fluor’s chairman and chief executive officer.
“Combining Fluor’s project management, engineering and procurement
services with Sacyr’s construction capabilities will provide our clients
with capital efficiencies through a simplified project structure and
improved opportunities for cost savings.”
Pedro Sigüenza, chief executive officer of Sacyr Industrial, said,
“SacyrFluor is the ideal companion for Sacyr Industrial, enabling us to
boost our oil and gas business and increase our capacity to take on
larger engineering, procurement and construction projects.”
“Fluor and Sacyr have together successfully completed two large oil and
gas projects, so we already have a track record and have gained an
excellent understanding of each other’s company ethos and cultures,”
said Miguel Angel Gomez, Fluor’s vice president of Energy and Chemicals
and general manager for Spain and North Africa. “Together with Sacyr’s
management, we are looking forward to offering our clients across the
regions an improved value proposition to support their project demands.”
About Sacyr
Sacyr is a Spanish multinational construction company, one of the
largest in Spain. It is a diverse group, whose objectives are innovation
and international expansion in all its areas: construction,
infrastructure, concessions, real estate, services and industrial
construction. With 30,000 employees and operation centres in 23
countries across five continents, Sacyr’s revenue for 2014 was €2.9
billion. Sacyr is registered on Spain’s Ibex 35 Index. For more
information, visit www.sacyr.com.
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. For more information, visit www.fluor.com
or follow us on Twitter @FluorCorp.
Fluor CorporationGlobal Media RelationsBrian Mershon, +1-469-398-7621orBrett Turner, +1-864-281-6976orInvestor RelationsGeoff Telfer, +1-469-398-7070orJason Landkamer, +1-469-398-7222orMedia Relations Europe, Africa & Middle EastJanet Kearns, + 44 (0) 1252 292039 /+44 (0) 7802 373466