Fluor Corporation (NYSE: FLR) announced today that U.S. District Court
Judge Denny Chin (S.D.N.Y.) has granted the motion of Fluor Daniel
Caribbean, Inc., a wholly owned subsidiary of Fluor Corporation, for a
new trial for its disputes with the developer of a resort hotel project
in the Caribbean. On June 23, the company received an unexpected
unfavorable jury verdict awarding damages to the developer. The order
granting a new trial effectively vacates and sets asides this verdict in
its totality.
At the time of the unfavorable decision, company officials stated that
they strongly believed that the verdict was not supported by the facts
or by applicable law. Shortly after the verdict was reached, Fluor filed
a motion for a new trial.
The company recorded a charge for the verdict in its second quarter, but
pending further developments in this proceeding, there will be no change
in Fluor's reported financial results for this matter.
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 $9.4 billion
in 2004. For more information, visit www.fluor.com.
|
Fluor Corporation
|
|
Lisa Boyette/Leann Vandergrift
|
|
One Enterprise Drive
|
|
Media Relations
|
|
Aliso Viejo, California
|
|
949.349.3652/949.349.7420
|
|
92656-2606
|
|
|
|
|
|
|
|
949.349.2000 tel
|
|
Ken Lockwood
|
|
949.349.7175 fax
|
|
Investor Relations
|
|
|
|
949.349.3815
|
Media, Lisa Boyette, +1-949-349-3652, or Leann Vandergrift, +1-949-349-7420, orInvestors, Ken Lockwood, +1-949-349-3815, all of Fluor Corporation