Fluor Corporation (NYSE: FLR) announced today that Fluor Australia Pty
Ltd. has resolved its dispute with Anaconda Operations Pty Ltd. on
claims related to the Murrin Murrin nickel cobalt project in Australia.
Fluor Australia will pay the equivalent of approximately US $123 million
to end all remaining claims, including those covered under Phase II of
an ongoing arbitration of the dispute. The payment will have no material
effect on Fluor's financial outlook for the current quarter or full
year, as the amount will be funded by Fluor's insurers.
"We're pleased to be able to resolve this long-standing matter, which
originally entered arbitration in 2000," said Alan Boeckmann, chairman
and chief executive officer of Fluor Corporation. "This allows both
companies to end the uncertainties and expense associated with
continuing the arbitration."
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 nearly $9
billion in 2003. For more information, visit www.fluor.com.
For further information please contact: Jerry Holloway, +1-949-349-7411,
or Lisa Boyette, +1-949-349-3652, both Media Relations, or investors,
Lila Churney, +1-949-349-3909, all of Fluor Corporation.
Jerry Holloway, +1-949-349-7411, or Lisa Boyette,+1-949-349-3652, both Media Relations; or investors, Lila Churney,+1-949-349-3909, all of Fluor Corporation//Web site: http://www.fluor.com/