Well-Established Relationship Evolves Into New Company to Better Serve Kuwait-Based Projects
Fluor (NYSE: FLR) announced today that, as part of its expansion in the
Middle East, it has signed an agreement to form Fluor Kuwait, a local
company in the State of Kuwait, with Fouad Alghanim and Sons General
Trading and Contracting Company, W.L.L., a Kuwaiti conglomerate active
in various commercial and industrial businesses. Fluor Kuwait's focus
will be to provide engineering, procurement, construction (EPC) and
operations and maintenance (O&M) services for energy, chemicals and
power projects in Kuwait.
"We have enjoyed a very successful business relationship with Fluor over
the past 15 years, which has now evolved into the formation of Fluor
Kuwait. We are quite optimistic about the future prospects of Fluor
Kuwait, and we look forward to being able to support our clients with
their capital projects in Kuwait," said Fouad Alghanim, the chairman of
Fouad Alghanim and Sons Group of Companies.
"The Middle East is an extremely important region to Fluor, where in the
last 30 years, we have executed numerous projects. Kuwait, with nine
percent of the world's known oil and nearly one percent of natural gas
reserves, is one of the most important countries in the region and to
our company. Fluor Kuwait is currently pursuing a significant number of
projects in the upstream, downstream and chemicals businesses," said
Jeff Faulk, president of Fluor's Energy & Chemicals group.
Fluor Kuwait is already fully integrated into Fluor's global knowledge
networks. In supporting its clients, Fluor Kuwait's personnel are
utilizing the latest technologies and state-of-the-art programs
available to Fluor employees worldwide, including computer-aided design
hardware, 3-D Plant Design Systems and Knowledge OnLine, Fluor's global
online knowledge management system. In the coming year, Fluor Kuwait
plans to double the size of its current organization.
Fluor Corporation (NYSE: FLR) provides services on a global basis in the
fields of engineering, procurement, construction, operations,
maintenance and project management. Now headquartered in Irving, Texas,
Fluor is a FORTUNE 500 company with revenues of $13.2 billion in 2005.
For more information visit www.fluor.com.
Keith Stephens/Leann Vandergrift
Media Relations
469.398.7624
/ 949.349.7420 tel
469.398.7298 fax
Ken Lockwood
Investor Relations
949.349.3815 tel
949.349.5375
fax
Media Relations, Keith Stephens, +1-469-398-7624, or LeannVandergrift, +1-949-349-7420, or fax, +1-469-398-7298, or Investor Relations,Ken Lockwood, +1-949-349-3815, or fax, +1-949-349-5375, all of Fluor//Web site: http://www.fluor.com /