Fluor Sells AMECO South America to STRACON Group

Rhea-AI Summary

Fluor Corporation (NYSE: FLR) has announced the successful sale of its AMECO South America business to STRACON Group, finalizing its AMECO divestiture strategy. This strategic move, which also included previous divestitures in regions such as Africa, North America, and the Caribbean, aims to enable Fluor to concentrate on its core operations and capital priorities. AMECO South America specializes in providing mobile equipment services for the mining sector. In 2022, Fluor reported revenues of $13.7 billion, continuing its focus on safe, efficient project execution.

Positive

• Completion of AMECO divestiture allows Fluor to concentrate on core businesses.
• Sale of AMECO South America enhances financial resources for strategic initiatives.

Negative

• None.

Transaction marks completion of AMECO divestiture

IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that the company sold its AMECO South America business, which includes assets in Chile and Peru, to STRACON Group, a diversified strategic partner to the mining sector in the Americas.

This transaction marks the completion of the AMECO divestiture which was a strategic initiative to allow Fluor to focus on its core businesses and capital priorities. Previous AMECO divestitures included company assets in Africa, the Caribbean, Mexico and North America.

AMECO South America is a provider of integrated mobile equipment services, solutions and rentals that serves ongoing operations and capital projects in the mining industry.

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 40,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $13.7 billion in 2022 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230314005847/en/

Brett Turner

Media Relations

864.281.6976

Jason Landkamer

Investor Relations

469.398.7222

Source: Fluor Corporation

FAQ

What is the significance of Fluor's AMECO divestiture?

The AMECO divestiture allows Fluor to refocus on its core business areas and improve capital management.

Which regions were included in Fluor's AMECO divestitures?

Fluor's AMECO divestitures included assets in Africa, North America, the Caribbean, and now South America.

What does AMECO South America provide?

AMECO South America offers integrated mobile equipment services for ongoing operations and capital projects in the mining industry.

What was Fluor's revenue in 2022?

Fluor reported revenues of $13.7 billion in 2022.

Who acquired Fluor's AMECO South America business?

Fluor's AMECO South America business was acquired by STRACON Group.