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Fluor Unit to Provide Fleet Management Services in Chile
Public Company Information:
AMECO, the fleet outsourcing and construction support unit of Fluor Corporation (NYSE: FLR), today announced that it has been awarded a $25-million contract to provide equipment and fleet management services to Minera Escondida. Minera Escondida is the Chilean joint-venture mining company owned by an international consortium led by BHP Billiton, the Australian mining group.
Under the five-year contract, AMECO will provide, manage and service Escondida's existing light equipment fleet, which includes maintenance support and construction equipment used at the world's largest producing copper mine located 100 miles from Antofagasta, in northern Chile. The award expands AMECO's 1996 equipment supplier agreement to a comprehensive fleet outsourcing program managed by AMECO.
"Responding to Escondida's need to increase its focus on its core business, we designed a customized program to add value to their operations by optimizing their equipment resources," said Gary Bernardez, president of AMECO. "AMECO's commitment to safety is a very important aspect of our relationship with Escondida."
Bruce Turner, president of Minera Escondida, said, "We have a good long-term relationship with AMECO built on our confidence in their ability to do the job safely and cost-effectively. Based on that performance, we made the decision to sole source the contract for the light equipment service directly with them."
AMECO has delivered fully integrated equipment and tool solutions for more than 50 years. The company is focused on two primary businesses, Fleet Outsourcing(SM) and Site Services(SM). The Fleet Outsourcing(SM) business assists clients in the industrial markets, including heavy industrial, power and manufacturing facilities, with complete outsourcing of fleet, tool, and asset management functions. The Site Services(SM) business focuses on providing a complete equipment, tool and indirects service package for construction projects.
BHP manages the Escondida operation on behalf of an international consortium, which is made up by BHP with 57.5 percent ownership, Rio Tinto with 30 percent, JECO with 10 percent and International Finance Corporation with 2.5 percent.
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, Calif., Fluor is a Fortune 500 company with revenues of $10 billion in 2002. For more information, visit www.fluor.com.
For further information, please contact media, Jerry Holloway, +1-949-349-7411, or Lisa Boyette, +1-949-349-3652, or investors, Lila Churney, +1-949-349-3909, fax +1-949-349-5375, all of Fluor Corporation.