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Fluor Selected for The Dow Chemical Company’s Propylene Production Project in Texas
Public Company Information:
IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today it was awarded an engineering, procurement and construction management (EPCM) contract by The Dow Chemical Company (NYSE: DOW) for a propylene production asset project in Freeport, Texas. Fluor successfully completed the front-end engineering and design (FEED) contract thereby setting the stage for this next-phase EPCM project award. Fluor will book the undisclosed value in the third quarter.
“Fluor is excited to be the EPCM contractor for the successful execution and completion of this project,” said Peter Oosterveer, president of Fluor’s Energy & Chemicals Group. "The U.S. is experiencing a significant rebound in the petrochemical sector due to the attractive price of shale gas and we look forward to helping our long-time customer Dow realize this important project."
The project is under way with estimated mechanical completion by 2015. Fluor’s Houston operations center is leading the effort with support from its Philippines operations. Nearly 1,600 home office, construction management and craft personnel are expected to be involved on this project at its peak.
Earlier this year, Fluor and Dow signed a Strategic Global Engineering, Procurement, Construction and Construction Management Agreement in support of Dow’s global capital projects program ranging across all Dow products. This includes potential new project work spanning across the globe.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Founded in 1912, John Simon Fluor Sr. started the company with a modest investment of $100. Since those humble beginnings, the company has grown into one of the largest engineering & construction companies in the world. Fluor is celebrating its 100th anniversary during 2012.
Today, through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenue of $23.4 billion in 2011. For more information, visit www.fluor100.com and www.fluor.com.
Keith Stephens, 469-398-7624
Brian Mershon, 469-398-7621
Ken Lockwood, 469-398-7220
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