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FLUOR CORPORATION

(FLR)
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Fluor : Announces $20 Million IHI Corporation Investment in NuScale Power

05/26/2021 | 02:18pm EDT

Fluor Corporation (NYSE: FLR) announced today that IHI Corporation (IHI) of Japan is investing $20 million into NuScale Power LLC, a leading small modular nuclear reactor (SMR) technology company in which Fluor is the majority investor. IHI’s immediate investment of $20 million may be followed by another $20 million later. In addition to IHI’s ownership interest, IHI will become a global manufacturing partner and have the opportunity to provide design services and heavy manufacturing of the steel plate reinforced concrete wall structures for NuScale SMR projects in which Fluor has the lead role.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210526006024/en/

This artist's rendering shows a prospective NuScale Power small modular nuclear reactor site. (Photo: Business Wire)

This artist's rendering shows a prospective NuScale Power small modular nuclear reactor site. (Photo: Business Wire)

“IHI’s decision to invest in NuScale’s leading-edge SMR technology is another concrete example of the growing interest in this industry-leading, carbon-free energy solution,” said David Constable, chief executive officer, Fluor Corporation. “This significant investment by IHI also aligns with Fluor’s strategy to bring aboard new strategic investors to NuScale.”

The investment from IHI comes on the heels of a previously announced investment in NuScale and new strategic partnership by JGC Holdings Corporation with Fluor, further demonstrating the global support of NuScale. Fluor and NuScale are currently working for Utah Associated Municipal Power Systems (UAMPS) to bring the world’s first carbon-free SMR project to commercialization.

Fluor has been serving the nuclear industry for more than 70 years including the design and construction support for more than 25 nuclear plants, plus nearly 100 million hours of nuclear operations and maintenance work.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is building a better future by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 44,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $14.2 billion in 2020 and is ranked 181 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has been providing engineering, procurement and construction services for more than 100 years. For more information, please visit www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and YouTube.

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© Business Wire 2021
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Financials (USD)
Sales 2021 13 394 M - -
Net income 2021 -6,03 M - -
Net cash 2021 278 M - -
P/E ratio 2021 1 857x
Yield 2021 0,39%
Capitalization 2 355 M 2 355 M -
EV / Sales 2021 0,16x
EV / Sales 2022 0,13x
Nbr of Employees 43 717
Free-Float 98,2%
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Mean consensus HOLD
Number of Analysts 9
Last Close Price 16,66 $
Average target price 21,57 $
Spread / Average Target 29,5%
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Managers and Directors
David Edward Constable Chief Executive Officer & Director
Joseph L. Brennan Chief Financial Officer & Executive Vice President
Alan Lee Boeckmann Executive Chairman
Robert C. Taylor Chief Information Officer & Senior Vice President
Rosemary T. Berkery Independent Director
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