Fluor Selected for Expansion of Large-Scale Biologics Manufacturing Facility in Scandinavia

Rhea-AI Summary

Fluor Corporation (NYSE: FLR) has been selected by a leading biologics company to manage procurement and construction for a large-scale biologics drug substance manufacturing facility in Scandinavia. The contract, valued in the multi-hundred-million-dollar range, is expected to be booked in Q3 2022. This facility will enhance production capacity for advanced biologics, including vaccines and oncology medicines, with operations slated to begin in 2025. Fluor's Advanced Technologies & Life Sciences division, supported by the Nordic Technology Hub in Copenhagen, is leading the project.

Positive

• Secured multi-hundred-million-dollar contract for biologics facility.
• Project enhances Fluor's portfolio in advanced biologics manufacturing.
• Construction underway with completion expected by 2025.

Negative

• None.

IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that the company has been selected by a leading biologics company to perform procurement and construction management for a large-scale biologics drug substance manufacturing facility located in Scandinavia. Fluor will book the multi-hundred-million-dollar reimbursable contract value in the third quarter of 2022.

The facility will produce new capacity for advanced biologics that are used in a variety of treatments including vaccines, oncology and quality-of-life medicines. Fluor has performed the planning and enabling work for this project, and construction is now underway with the facility scheduled to be operational by 2025.

Fluor’s Advanced Technologies & Life Sciences business is leading the project including support from its Nordic Technology Hub in Copenhagen, Denmark.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is building a better future 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/20220929005118/en/

Brian Mershon

Media Relations

469.398.7621

Jason Landkamer

Investor Relations

469.398.7222

Source: Fluor Corporation

FAQ

What contract did Fluor Corporation secure recently?

Fluor secured a multi-hundred-million-dollar contract to manage procurement and construction for a biologics drug substance manufacturing facility in Scandinavia.

When will the new biologics facility by Fluor be operational?

The new biologics facility is scheduled to be operational by 2025.

What is the significance of the facility being constructed by Fluor?

The facility will increase production capacity for advanced biologics, including vaccines and oncology medicines.

Which division of Fluor is leading the biologics facility project?

Fluor's Advanced Technologies & Life Sciences division is leading the biologics facility project.

What did Fluor announce in the third quarter of 2022?

Fluor announced the booking of a contract valued in the multi-hundred-million-dollar range in the third quarter of 2022.