Fluor Sells Stork European Business

Rhea-AI Summary

Fluor Corporation to sell its Stork business and turbo blading manufacturing operation to Bilfinger SE.

Positive

• Divestiture advances Fluor's strategic initiative to focus on core businesses and capital priorities.

Negative

• None.

IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that it has agreed to sell its Stork business in Belgium, Germany, the Netherlands and its turbo blading manufacturing operation in the United States to industrial services provider Bilfinger SE.

This divestiture advances Fluor’s strategic initiative to focus on its core businesses and capital priorities.

This transaction is subject to consultations with and advice from the representative body of the applicable works councils, consultations with the trade unions and receipt of regulatory clearances along with other customary conditions and, subject to these conditions, is expected to be completed in the first half of 2024.

Lazard is the financial advisor to Fluor on this transaction.

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 303 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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Investor Relations

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Source: Fluor Corporation