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MarketScreener Homepage  >  Equities  >  Nyse  >  Fluor Corporation    FLR

FLUOR CORPORATION

(FLR)
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Fluor : U.S. Department of Energy Selects Fluor Team for Hanford Site Tank Closure Contract

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05/18/2020 | 09:15am EDT

Fluor Corporation (NYSE: FLR) announced today that the U.S. Department of Energy (DOE) selected Hanford Works Restoration, LLC (HWR), a joint venture between a subsidiary of BWX Technologies, Inc. and Fluor, to lead the Tank Closure Contract at the DOE’s Hanford Site. The team includes two pre-selected small businesses, DBD and INTERA, which provide specialized modeling and regulatory expertise, respectively. The contract is valued at up to approximately $13 billion over a 10-year period.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200518005441/en/

A Fluor & BWXT joint venture was selected for the Hanford Site Tank Closure Contract by the Dept. of Energy. Hanford is located in the state of Washington. (Photo: Business Wire)

A Fluor & BWXT joint venture was selected for the Hanford Site Tank Closure Contract by the Dept. of Energy. Hanford is located in the state of Washington. (Photo: Business Wire)

“We’re pleased that DOE has given us the opportunity to demonstrate the effectiveness of the new end-state contract approach to accelerate closing Hanford’s tanks and reduce DOE’s liability,” said Tom D’Agostino, president of Fluor’s Government Group. “Fluor began its 13-year tenure at Hanford in 1996 with a contract to manage most of the site’s cleanup work and we have been an integrated part of the community ever since. We look forward to working with the incumbent Tank Farm employees, DOE, the regulators, and other Hanford contractors to shift to a unified closure mentality and safely accelerate the completion timeline.”

HWR has been selected to provide services for the transition from the current tank operations contract to the tank closure contract. The services include the operations and maintenance of the single shell and double shell tank farms including volume management and secondary waste treatment facilities; the completion of construction and operations and maintenance of equipment necessary to pretreat and feed low-level waste to the low-activity waste verification facility, and single-shell tank waste remediation and closure to support the Hanford Site environmental cleanup.

Established in 1943, the Hanford Site's original mission was to produce plutonium for national defense. Operations to make the raw materials for nuclear weapons continued until the late 1980s. In 1989, Hanford's mission shifted from production of weapons material to waste management and environmental cleanup.

About Fluor Corporation
Fluor Corporation (NYSE: FLR) is a global engineering, procurement, fabrication, construction and maintenance company with projects and offices on six continents. Fluor’s 47,000 employees build a better world by designing, constructing and maintaining safe, well-executed, capital-efficient projects. With headquarters in Irving, Texas, Fluor has served its clients for more than 100 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.


© Business Wire 2020
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Financials (USD)
Sales 2019 16 799 M - -
Net income 2019 -1 291 M - -
Net Debt 2019 - - -
P/E ratio 2019 -1,25x
Yield 2019 6,06%
Capitalization 1 640 M 1 640 M -
EV / Sales 2018
Capi. / Sales 2019 0,10x
Nbr of Employees 53 349
Free-Float 89,4%
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Mean consensus HOLD
Number of Analysts 10
Average target price 11,89 $
Last Close Price 11,70 $
Spread / Highest target 88,0%
Spread / Average Target 1,61%
Spread / Lowest Target -40,2%
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Managers
NameTitle
Carlos Manuel Hernandez Chief Executive Officer & Director
Alan Lee Boeckmann Executive Chairman
D. Michael Steuert Chief Financial Officer & Executive Vice President
Robert C. Taylor Chief Information Officer & Senior Vice President
Peter J. Fluor Lead Independent Director
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