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Fluor’s AMECO to Form North American Industrial Joint Venture with United Rentals
Public Company Information:
IRVING, Texas--(BUSINESS WIRE)--Fluor Corporation (NYSE:FLR) announced today that its AMECO unit has agreed to form a joint venture with United Rentals, Inc. (NYSE: URI) to offer comprehensive equipment and tool solutions for ongoing plant maintenance and turnaround activities initially supporting the oil and gas industry in the Gulf Coast region of the United States.
“AMECO’s expertise in providing project tools and site services, coupled with a world class safety culture, is a complementary fit with United Rentals’ significant rental fleet infrastructure and technology capabilities,” said Gary Bernardez, president of AMECO. “The combined resources of the two companies will provide a seamless, one-stop shop for oil and gas customers at their project sites throughout the Gulf Coast region.”
Michael Kneeland, chief executive officer of United Rentals, said, “We are excited to join with AMECO to offer more inclusive solutions to customers and create opportunities that may not otherwise exist. This partnership allows both companies to expand their presence in the energy market while remaining focused on our core competencies. For our customers, an integrated source of supply means greater productivity.”
The AMECO and United Rentals joint venture plans to provide full turnkey services and comprehensive offerings along with an industry-leading safety program. It will offer customized solutions based on customers’ needs with the ability to scale to appropriate levels quickly and nimbly.
United Rentals has the largest fleet and geographic coverage for equipment rental in the U.S. AMECO’s in-house tool and maintenance expertise together with its site management services expertise will provide additional value to customers during turnarounds, shutdowns and sustaining operations.
About United Rentals
United Rentals, Inc. (NYSE: URI) is the largest equipment rental company in the world, with an integrated network of 554 rental locations in 48 states and 10 Canadian provinces. The company’s approximately 7,400 employees serve construction and industrial customers, utilities, municipalities, homeowners and others. The company offers for rent approximately 3,000 classes of equipment with a total original cost of $3.8 billion. United Rentals is a member of the Standard & Poor’s MidCap 400 Index and the Russell 2000 Index® and is headquartered in Greenwich, Conn. Additional information about United Rentals is available at unitedrentals.com.
AMECO, a unit of Fluor Corporation (NYSE: FLR), is the world's leader in integrated mobile equipment and tool solutions and has provided a wide range of services to construction, mining, government and industrial markets across the globe for over 60 years. The company is focused on three primary businesses: operations fleet services, construction site services and equipment distribution. For more information, visit www.ameco.com.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in the fields of engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenues of $22 billion in 2009. For more information, visit www.fluor.com.
Keith Stephens, 469-398-7624
Brian Mershon, 469-398-7621
Ken Lockwood, 469-398-7220
Jason Landkamer, 469-398-7222