Profile: Fluor Corp (FLR)
9 Dec 2013
Fluor Corporation (Fluor), incorporated on September 11, 2000, is a holding company. It is a professional services company providing engineering, procurement, construction and maintenance, as well as project management services on a global basis. The Company serves a diverse set of industries worldwide, including oil and gas, chemicals and petrochemicals, transportation, mining and metals, power, life sciences and manufacturing. It is also a primary service provider to the United Services federal government, and it performs operations and maintenance activities for industrial clients. Fluor operates in five principal segments: Oil & Gas, Industrial & Infrastructure, Government, Global Services and Power. Fluor Constructors International, Inc., which is organized and operates separately from the rest of its business, provides management and construction services in the United States and Canada, both independently and as a subcontractor on projects in each of its segments. In November 2011, it acquired a sulfur technology company, Goar, Allison & Associates, a unit of Air Products.
Oil & Gas
Through the Company’s Oil & Gas segment, it serves the global oil and gas production, processing, and the chemical and petro-chemical industries, as an integrated service provider offering a range of design, engineering, procurement, construction and project management services to a broad spectrum of energy-related industries. Fluor serves a number of industries, including upstream oil and gas production, downstream refining, offshore production, chemicals and petrochemicals. The Company may be engaged in providing front-end engineering, program management and final design services, construction management services, self-perform construction, or oversight of other contractors. Fluor also provides consulting services ranging from feasibility studies to process assessment to project finance structuring and studies.
Fluor’s projects in the upstream sector include the production, processing and transporting of oil and gas resources, including the development of major new fields, as well as liquefied natural gas (LNG) projects. It is also engaged in offshore production facilities. In the downstream sector, it focuses on markets, such as clean fuels, both domestically and internationally. With Fluor’s partner Grupo ICA, the Company maintains a joint venture, ICA Fluor, through which it participates in the Mexican and Central American oil, gas, power, chemical and other markets.
Industrial & Infrastructure
The Industrial & Infrastructure segment provides design, engineering, procurement and construction services to the transportation, wind power, mining and metals, life sciences, manufacturing, commercial and institutional, telecommunications, microelectronics and healthcare sectors. The Company provides a range of services, including consulting, design, planning, financial structuring, engineering and construction, domestically and internationally. Its service offerings include transportation infrastructure, such as roads, highways, bridges and rail. Many of its projects include the use of public/private partnerships. In this group, the Company provides a range of services to the iron ore, copper, diamond, gold, nickel, alumina, aluminum and other commodity-based industries. These services include feasibility studies through detailed engineering, design, procurement, construction, and commissioning and start-up support.
In life sciences, Fluor provides design, engineering, procurement, construction and construction management services to the pharmaceutical and biotechnology industries. It also specializes in providing validation and commissioning services. In manufacturing, Fluor provides design, engineering, procurement, consulting, construction and construction management services to a range of industries.
The Company’s Government segment is a provider of engineering, construction, logistics support, contingency response and management and operations services to the United States government. It is primarily focused on the Department of Energy, the Department of Defense and the Department of Homeland Security. For the Department of Energy, Fluor provides site management, environmental remediation, decommissioning, engineering and construction services. Fluor performs activities as part of a joint venture that has responsibility for the Savannah River site near Aiken, South Carolina.
The Government segment also provides engineering and construction services, as well as logistics and contingency operations support, to the Department of Defense. It supports military logistical and infrastructure needs worldwide. Its long-term contract is LOGCAP IV, under which Fluor provides engineering, procurement, construction and logistical augmentation services to the United States military in various international locations, with a primary focus on the United States military-related activities in and around the Middle East and more specifically Afghanistan. In combination with Fluor’s subsidiary, Del-Jen, Inc., it is a provider of outsourced services to the federal government. It provides operations and maintenance services at military bases and education and training services to the Department of Labor, particularly through Job Corps programs. The Company provides support to the Department of Homeland Security.
The Global Services segment integrates a range of customized service capabilities that serve and assist industrial clients. Capabilities within Global Services include operations and maintenance activities, small capital project engineering and execution, site equipment and tool services, industrial fleet services, plant turnaround services, supply chain solutions and temporary staffing. Global Services' activities in the operations and maintenance markets include providing facility start-up and management, plant and facility maintenance, operations support and asset management services to the oil and gas, chemicals, life sciences, mining and metals, consumer products and manufacturing industries. It is a supplier of operations and maintenance services, providing its service offerings both domestically and internationally.
The Company also provides Site Services and Fleet Outsourcing through American Equipment Company, Inc. (AMECO). AMECO provides integrated construction equipment, tool, and fleet service solutions on a global basis for construction projects and plant sites of both third party clients and clients of the Company. AMECO supports large construction projects and plants at locations throughout North and South America, Africa and the Middle East. Fluor’s supply chain solutions business line provides a range of strategic sourcing solutions to help execute capital projects. Global Services serves the temporary staffing market through TRS Staffing Solutions, Inc. (TRS). TRS is a global enterprise of staffing specialists that provides the Company and third party clients with recruiting and permanent placement services and the placement of contract technical professionals.
In the Power segment, Fluor provides a range of services to the gas fueled, solid fuels, environmental compliance, renewables, nuclear and power services markets. The Company’s services include engineering, procurement, construction, program management, start-up and commissioning, operations and maintenance and technical services. Through the gas fueled market, Fluor offers a full range of services for cycle reference plant designs, as well as Integrated Gasification Combined Cycle (IGCC) projects.
Through the solid fueled and environmental compliance markets, Fluor offers a range of services for subcritical, supercritical, ultra-supercritical and circulating fluidized bed (CFB) technologies, as well as emissions reduction solutions, including selective catalytic reduction (SCR), flue gas desulphurization (FGD), and particulate and mercury controls designs. It offers designing and constructing of coal-fired power generation facilities. As part of its environmental compliance service offering, Fluor designs, installs and commission emissions reduction equipment. It also offers solutions for post-combustion carbon capture and sequestration for solid fueled and gas fueled facilities on a global basis, offering its commercially demonstrated Econamine FG PlusSM CO2 capture technology.
In the renewables market, Fluor offers a range of technology for solar, wind, biomass and geothermal solutions on a global basis. For solar, it is focused on thermal technologies, such as photovoltaic (PV), as well as Concentrating Solar Power (CSP) applications. The Company purchased a majority interest in NuScale Power, LLC, which is a small modular nuclear reactor technology company.
Through the Company’s power services business line, it offers a variety of services to owners including fossil, renewable and nuclear plant maintenance, facility management, operations support, asset performance improvement, capital modifications and improvements, operations readiness and start-up commissioning on a global basis. It has annual maintenance and modification contracts covering full generation fleets within the utility generation market. In addition, Fluor provides a solution to the transmission and distribution market through entities based in the United States and South Africa. In the United States market, the scope of services is focused on the design and construction of new transmission lines to connect new capacity from the current renewables market to existing distribution centers.
The Company competes with Bechtel Group, Inc., CH2M Hill Companies Limited, Jacobs Engineering Group, Inc., KBR Inc., the Shaw Group, URS Corporation, AMEC plc, Balfour Beatty, Chicago Bridge and Iron Company N.V., Chiyoda Corporation, Foster Wheeler AG, Hyundai Engineering & Construction Company, JGC Corporation, McDermott International, Inc., Samsung Engineering, Technip and WorleyParsons Limited.
6700 Las Colinas Blvd
IRVING TX 75039