Fluor Corporation (NYSE: FLR) today announced that it has formed a
relationship with Sinopec Ningbo Engineering Company, a subsidiary of
China Petroleum and Chemical Corporation (Sinopec Corporation), to
provide operations and maintenance services to petrochemical and
chemical production businesses in China.
Under the terms of a Co-operation Agreement, Fluor's operations and
maintenance unit will provide the maintenance management and the
implementation of proprietary O&M improvement programs and maintenance
technician training programs. SNEC will provide key staff and facilities
that will allow the firms to deliver these value-added services in a
cost-competitive way.
"Fluor's experience and expertise in the operations and maintenance
field and strong presence in China complemented by SNEC's local
capabilities will provide a strong value proposition to improve the
performance of existing assets and provide cost-effective services for
the long-term maintenance of new facilities in China," said Kirk Grimes,
president of Fluor's Global Services group.
The primary service portfolio of the relationship will focus on:
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Plant readiness assessments (UpFront sm) of grass root facilities with
the objective to provide long-term maintenance services
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Opportunity assessments (BestPlant sm ) on existing facilities to
improve facility performance and optimize operating expenditures
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Small capital engineering, procurement and construction works
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Total maintenance solutions
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Supplemental maintenance
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Training.
"We are excited to enter into this relationship with a world-class
company that has significant expertise in the operations and maintenance
market," said JiangLi Qiang, vice president of SNEC. "Combining Fluor's
and SNEC's strengths, we have a significant opportunity to penetrate the
O&M market in China."
"The extensive relationship between Sinopec and Fluor Corporation was a
major contributor in forming this co-operation agreement," said Arnold
Steenbakker, a senior vice president within Fluor's Global Services
group. "Sinopec's support and the strength of SNEC will form the basis
for a long-term relationship that will serve our customers in China for
many years to come."
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,
Calif., Fluor is a Fortune 500 company with revenues of $10 billion. For
more information, visit www.fluor.com.
Jerry Holloway/Lisa BoyetteMedia Relations949.349.7411/3652 telLila ChurneyInvestor Relations949.349.3909 tel949.349.5375 fax