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MarketScreener Homepage  >  Equities  >  Nyse  >  Fluor Corp       

FLUOR CORP

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Fluor Corporation (NEW) : AMECO Acquires Africa-Based ServiTrade

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11/12/2012 | 05:05pm EDT

Fluor Corporation (NYSE: FLR) announced today that AMECO, a unit of Fluor, has acquired ServiTrade, a Mozambique-based construction equipment rental and project services company. ServiTrade provides fully operated and maintained equipment, camp services, transportation, and batch plant services to the infrastructure, mining, natural gas and power industries with an execution model aligned with AMECO's. Financial terms of the acquisition were not disclosed.

"One of our strategic growth initiatives has been to increase our presence in Africa, so AMECO took this approach to expand in the market and position early in this high growth region," said Gary Bernardez, president of AMECO. "ServiTrade's long-term presence and high level of activity with AMECO's global accounts, stable economic factors and the desire to establish a sustainable presence in sub-Saharan and eastern Africa further solidified our decision."

Founded in 1998, ServiTrade is one of east Africa's premier project services companies for projects throughout the region. ServiTrade is based in Maputo, Mozambique, with additional locations throughout the country.

About AMECO

AMECO, a unit of Fluor Corporation, is a leader in integrated mobile equipment and tool solutions and has provided a wide range of services to construction, mining, government and industrial markets across the globe for over 65 years. The company is focused on three primary businesses--operations fleet services, construction site services and equipment distribution. Headquartered in Greenville, South Carolina, AMECO has office locations throughout the Americas and South Africa, as well as project locations all over the globe. For more information, visit www.ameco.com.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Founded in 1912, the company was started by John Simon Fluor Sr. with a modest investment of $100. Since those humble beginnings, the company has grown into one of the largest engineering & construction companies in the world. Fluor is celebrating its 100th anniversary during 2012.

Today, through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenue of $23.4 billion in 2011.

For more information, visit www.fluor100.com and www.fluor.com.

Fluor Corporation
Media Relations:
Keith Stephens, 469-398-7624
or
Brian Mershon, 469-398-7621
or
Investor Relations:
Ken Lockwood, 469-398-7220
or
Jason Landkamer, 469-398-7222


© Business Wire 2012
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Financials ($)
Sales 2019 20 525 M
EBIT 2019 648 M
Net income 2019 398 M
Finance 2019 306 M
Yield 2019 2,19%
P/E ratio 2019 13,43
P/E ratio 2020 10,46
EV / Sales 2019 0,24x
EV / Sales 2020 0,22x
Capitalization 5 262 M
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 47,6 $
Spread / Average Target 26%
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Managers
NameTitle
David Thomas Seaton Chairman & Chief Executive Officer
James F. Brittain Group President
Bruce A. Stanski Chief Financial Officer
Robert C. Taylor Chief Information Officer & Senior Vice President
Peter J. Fluor Lead Independent Director
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