Fluor Corporation - FLR STOCK NEWS

Fluor Corporation (NYSE: FLR) has appointed David Constable as the new chairman, succeeding Alan Boeckmann, who will not seek re-election at the annual meeting on May 5, 2022. Boeckmann, a longstanding leader in the company for nearly 40 years, expressed confidence in Fluor's current direction under Constable's leadership. Constable, who became CEO in January 2021, aims to continue enhancing Fluor's balance sheet and restoring investor confidence.

Fluor Corporation (NYSE: FLR) and Walsh Construction have commenced construction on the Chicago Transit Authority’s North Main Line Red and Purple Line track structure as part of the Red and Purple Modernization (RPM) Phase One Project. The project includes straightening historical track curves, improving safety, and enhancing service speed for commuters. Completion is expected by 2025, which will modernize 100-year-old rail structures, increase capacity, and improve reliability with new signal systems across 23 track miles.

Fluor Corporation (NYSE: FLR) announced that Tricia Thibodeaux has been appointed as vice chair of the Construction Industry Institute (CII) for 2022. Thibodeaux has a decade-long involvement with CII and has previously led key research initiatives, including efforts to improve supplier quality. Her leadership is expected to benefit CII's member organizations and the broader construction industry. Fluor has supported CII for 38 years, contributing to research and best practices in capital projects.

Fluor Corporation (NYSE: FLR) will hold a conference call on February 22 at 8:30 A.M. Eastern time to discuss its fourth quarter and full-year results for 2021, with results released prior to market open. CEO David Constable and CFO Joe Brennan will lead the call. A live webcast and a replay will be available on investor.fluor.com for 30 days. Fluor reported a revenue of $14.2 billion in 2020 and employs around 44,000 people, providing engineering, procurement, and construction services globally.

Fluor Corporation (NYSE: FLR) has been awarded a position on the U.S. General Services Administration's Multiple Award Schedule (MAS) contract. This indefinite-delivery/indefinite-quantity contract spans five years, with three additional five-year options available. Fluor can now compete for task orders in the Facilities and Professional Services categories, which include various special item numbers matching its spending profiles. This award supports Fluor's strategy to enhance its technical services and provides federal agencies access to its innovative solutions.

Fluor Corporation (NYSE: FLR) announced the completion of the A9 public-private-partnership project in Amsterdam, executed in collaboration with Balast Nedam and Heijmans. The project included the upgrade of 7 kilometers of the A9 highway and the construction of the Netherlands' largest cut-and-cover tunnel. Notably, over 5,000 solar panels were installed, generating electricity equivalent to that needed for 600 homes. Fluor will operate and maintain the roadway for the next 20 years.

Mote has announced the establishment of its first facility in Bakersfield, California, to convert wood waste into carbon-negative hydrogen. The project aims to produce about 7 million kilograms of hydrogen annually, capturing 150,000 metric tons of CO2, which is equivalent to removing 32,622 cars from the road. The facility, projected to begin operations in 2024, aims to utilize biomass from agricultural waste, with support from Fluor Corporation and SunGas Renewables. Mote is positioned to significantly contribute to California's carbon neutrality goals and the expanding market for renewable hydrogen.

Fluor Corporation (NYSE: FLR) announced a merger agreement with Spring Valley Acquisition Corp. (NASDAQ: SV), set to close in the first half of 2022. This merger will create the first publicly traded developer of advanced small modular reactor (SMR) technology, with Fluor expected to maintain a 60% stake in the new entity. Fluor has invested over $600 million in NuScale Power since 2011, which has received Standard Design Approval from the U.S. Nuclear Regulatory Commission. The innovation aims for low-carbon, reliable power generation, with NuScale’s modules providing scalable energy solutions.

NuScale Power enters a business combination agreement with Spring Valley Acquisition Corp. (SV) to create NuScale Power Corporation, estimated to have a pro-forma enterprise value of $1.9 billion. The merger includes a $181 million oversubscribed PIPE with backing from major investors like Samsung C&T. NuScale's innovative Power Module™ is the first SMR technology approved by the U.S. Nuclear Regulatory Commission. This transaction is expected to provide gross proceeds of up to $413 million to support commercialization, with Fluor retaining a 60% control of the new entity.