News Details

Fluor Corporation (NYSE: FLR) today announced the launch of its Internet-enabled global equipment trading venture, GLOBEquip LLC.

“We have completed the research and design phase of GLOBEquip as well as the testing and confirmation of the market opportunity. With the succesful launch of the fully functional website (www.globequip.com) GLOBEquip is ready to transact business and capture this exciting market opportunity,” said Arnold Steenbakker, president of the New Ventures Group for Fluor. “The management team is located at its permanent headquarters in the greater Atlanta area and is now ready to transition GLOBEquip into a full scale operation.”

Jeff Putman, former Fluor executive and current chief executive officer of GLOBEquip, commented on the new venture and its launch.

“We have already been contacted by customers in more than 25 countries regarding the availability of construction and mining equipment products,” he said. “ We will assist and provide value to owners with the disposition of their excess equipment by opening international growth markets to them.”

At the same time, noted Putman, the company will provide buyers with improved choices, quicker responses and lower overall transaction costs.

“We will accomplish these efficiencies by leveraging the communication power of the Internet, leveraging our unique knowledge of the global equipment market and by utilizing the collective skills of our team and our partners,” added Putman. “GLOBEquip doesn't stop when we find a buyer. We manage the entire transaction process from end-to-end. Our logistics and financial capabilities directly address the difficulties of cross-border and cross-ocean transactions.”

GLOBEquip is a Fluor Corporation-funded venture. It is a web-enabled trading service company focused on the global construction and mining equipment markets. The company offers an extensive service bundle including inspection, insurance, escrow, end-to-end logistics, currency exchange and commodity exchange. Contact GLOBEquip at www.globequip.com.

With 2000 revenues of $10 billion, Fluor Corporation provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance, project management and business services.