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MarketScreener Homepage  >  Equities  >  Nyse  >  Fluor Corp       

FLUOR CORP

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Fluor Corporation (NEW) : Fluor Acquires Texas-based Sulfur Technology Company

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11/07/2011 | 04:05pm EDT

Niche acquisition enhances Fluor's global technology offerings for upstream and downstream projects

Fluor Corporation (NYSE: FLR) announced today that the company has made a niche acquisition of Goar, Allison & Associates, a unit of Air Products. The Tyler, Texas-based company provides sulfur technologies for upstream gas plants, downstream refineries and gasification. The acquisition is consistent with Fluor's ongoing evaluation of pursuing companies in key areas to support the oil and gas sector and other core Fluor markets.

Goar, Allison & Associates (GAA) was founded in 1975 and has been owned by Air Products since May 2008. Fluor has been actively involved working with GAA for nearly 20 years due to the company's core sulfur handling technologies--oxygen enrichment for Claus sulfur plants and molten sulfur. GAA's core technologies are complementary to Fluor's existing sulfur technologies. GAA has installed more than 100 applications of its sulfur degassing technology in refineries and sour gas projects worldwide.

"Fluor's acquisition of Goar, Allison & Associates provides additional value for oil and gas clients in both the upstream and downstream capital project segments," said Peter Oosterveer, president of Fluor's Energy & Chemicals Group. "As we're called upon by clients to provide services in ever more remote locations around the globe, our ability to provide them added-value technology will be enhanced particularly in the Middle East, Brazil, China, Russia, Kazakhstan, Canada and Venezuela."

About Fluor Corporation

Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in the fields of engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenue of $20.8 billion in 2010. For more information, visit www.fluor.com.

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


© Business Wire 2011
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Managers
NameTitle
Carlos Manuel Hernandez Chief Executive Officer & Director
Alan Lee Boeckmann Executive Chairman
D. Michael Steuert Chief Financial Officer
Robert C. Taylor Chief Information Officer & Senior Vice President
Peter J. Fluor Lead Independent Director
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