ALISO VIEJO, Calif.--(BUSINESS WIRE)--Fluor Corporation (NYSE: FLR) announced today that Fluor Enterprises,
Inc., has resolved its dispute with Solutia Inc., on claims concerning
financial responsibility for changes in the design and construction of
an acrylonitrile plant in Chocolate Bayou, TX. A judgment has been
entered in U.S. Federal District Court, following a settlement agreement
between Fluor and Solutia.
Fluor stated the settlement amount slightly exceeded its recovery
expectations and will not materially impact its financial outlook for
the current quarter or full year.
Larry Fisher, Fluor senior vice president of Law, said, "Fluor is
pleased to close out these contractual issues. Solutia's AN 7 plant is a
world-class chemical plant constructed by Fluor which met its design
criteria and operational specifications."
Fluor Corporation (NYSE: FLR) provides services on a global basis in the
fields of engineering, procurement, construction, operations,
maintenance and project management. Headquartered in Aliso Viejo,
California, Fluor is a Fortune 500 company with revenues of $9 billion
in fiscal year 2001. For more information, visit www.fluor.com.
Note: This release contains forward-looking statements regarding, among
other things, the Company's projected financial results. These
forward-looking statements reflect current analysis of existing
information. As a result, caution must be exercised in relying on
forward-looking statements. Due to known and unknown risks, the
Company's actual results may differ materially from its expectations or
projections. Additional information concerning these and other factors
can be found in press releases, as well as periodic filings with the
Securities and Exchange Commission, including the discussion under the
heading "Item 1. Business-Other Matters- Company Business Risks" in the
Company's Form 10-K filed March 21, 2002. These filings are available
either publicly or upon request from Fluor's Investor Relations
Department: (949) 349-3909. The Company disclaims any intent or
obligation to update its forward-looking statements.
For further information please contact: Media Relations, Jerry Holloway,
+1-949-349-7411, or Lori Serrato, +1-949-349-7420, or Investor
Relations, Lila Churney, +1-949-349-3909, or fax, +1-949-349-5375, all
of Fluor Corporation.
Media Relations, Jerry Holloway, +1-949-349-7411, or LoriSerrato, +1-949-349-7420, or Investor Relations, Lila Churney,+1-949-349-3909, or fax, +1-949-349-5375, all of Fluor CorporationURL:http://www.fluor.com