Fluor Selected for Agilent Life Sciences Facility Expansion in Colorado

Rhea-AI Summary

Fluor Corporation (NYSE: FLR) has been selected by Agilent Technologies to expand its oligonucleotide therapeutics manufacturing facility in Frederick, Colorado. The project, valued at $725 million, includes engineering and procurement services aimed at optimizing cost and construction speed. Fluor's new 275,000 square-foot facility will double Agilent's manufacturing capability and is expected to support the synthesis of critical nucleic acids for various diseases. Construction is currently underway, with completion projected by 2026.

Positive

• Secured a $725 million project with Agilent Technologies to expand manufacturing capabilities.
• The new facility will double production capacity for critical nucleic acid therapeutics.

Negative

• None.

IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that its Advanced Technologies & Life Sciences business was selected by Agilent Technologies, Inc., to expand its oligonucleotide therapeutics manufacturing facility in Frederick, Colorado, just north of Denver. Fluor is supporting engineering and procurement as part of the project. The total project value is $725 million.

Fluor Selected for Agilent Life Sciences Facility expansion in Colorado. (Photo: Business Wire)

“Speed to market is essential in the pharmaceutical industry,” said Juan Hernández, president of Fluor’s Advanced Technologies & Life Sciences business. “We will incorporate state-of-the-art engineering enhancements such as advanced automation, water reduction strategies and solvent capturing to optimize cost and construction. This enables us to fast-track the project so that Agilent can meet its global customers’ needs by getting products to market faster.”

Fluor is providing architectural and engineering services and procuring equipment for the new 275,000 square-foot manufacturing facility that will house two manufacturing lines to double manufacturing capability. The completed facility will provide for the synthesis, purification and lyophilization of Agilent’s custom nucleic acids therapeutics, also known as oligonucleotides or oligos.

Oligos are short deoxyribonucleic acid (DNA) and ribonucleic acid (RNA) molecules that serve as the active pharmaceutical ingredients for drugs targeting a growing number of diseases, including cancer, cardiovascular disease, and rare and infectious diseases.

Construction is underway with completion expected by 2026.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 41,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $12.4 billion in 2021 and is ranked 259 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than 110 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005795/en/

Brian Mershon

Media Relations

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Jason Landkamer

Investor Relations

469.398.7222

Source: Fluor Corporation

FAQ

What is the value of Fluor's project with Agilent Technologies?

The project is valued at $725 million.

When is the completion date for the Agilent facility expansion?

The completion is projected by 2026.

What will Fluor's new facility produce?

The facility will produce oligonucleotide therapeutics, critical for treating various diseases.

Where is Fluor's new manufacturing facility located?

It is located in Frederick, Colorado.