Fluor Corporation (NYSE: FLR) today announced Cascadia Monorail Company,
the limited liability entity formed specifically to compete for the
Seattle Monorail Green Line, has successfully concluded negotiations
with the Seattle Monorail Project (SMP) to design, build, operate and
maintain a 14-mile monorail to enhance travel between downtown Seattle
and its surrounding communities.
"After several years in a developmental stage, this agreement is a
positive step forward in the viability and advancement of this
critically important infrastructure project for the city of Seattle,"
says Pat Flaherty, president of Cascadia Monorail Company. "We look
forward to working closely with the SMP to successfully deliver this
monorail project to the citizens of Seattle."
Full disclosure of the agreement's details, including the project scope,
construction schedule and price are expected to be made on June 20 by
SMP, after final documents have been reviewed and conformed. Design and
construction completion is scheduled for December 2010.
"We are pleased to have achieved this significant milestone in the
development of the monorail project. Subject to approval of the SMP
Board and placement of initial financing, we anticipate being able to
sign the contract in the middle of August and include this project as a
new award in our fiscal third quarter," added Flaherty.
"Being able to move forward with this world-class team of companies to
build the Monorail Green Line is a great opportunity for everyone
involved, including the people of Seattle," said Joel Horn, executive
director of the Seattle Monorail Project. "The tremendous experience of
the Cascadia companies will be brought to bear to ensure the success of
this project."
Cascadia Monorail Company's team consists of well-respected industry
leaders and a significant local presence. Led by Fluor, this consortium
of more than 20 award-winning urban mass transit firms includes Hitachi,
Mitsui, Alcatel, HDR Engineering, Howard S. Wright Construction Co.,
Hoffman Construction, RCI Construction Group, Atkinson Construction, as
well as other Seattle and Washington state contractors and consultants.
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.
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Contacts:
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Lisa Boyette
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Media Relations
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949.349.3652 tel
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Lila Churney
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Investor Relations
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949.349.3909 tel
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Media Relations, Lisa Boyette, +1-949-349-3652, or Investor Relations, Lila Churney,+1-949-349-3909, both of Fluor Corporation7