Profile: Fluor Corp (FLR.N)
22 Aug 2019
Fluor Corporation (Fluor), incorporated on September 11, 2000, is a holding company. The Company operates its business in four segments: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Government, and Maintenance, Modification & Asset Integrity (MMAI). The Company, through its subsidiaries, offers professional services providing engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services on a global basis. The Company is an integrated solutions provider for various industries, including oil and gas, chemicals and petrochemicals, mining and metals, transportation, power, life sciences and advanced manufacturing. The Company is also a service provider to the United States federal Government and governments abroad, and it performs operations and maintenance activities around the world for its industrial clients. The Company offers services in various categories, including engineering and design, procurement, construction, fabrication, maintenance, modification and asset integrity and project management. The Company offers these services both independently, as well as through its integrated solutions offerings. Its services range from basic consulting activities, at the early stages of a project, to complete design-build and maintenance contracts.
In engineering and design, the Company develops solutions to address its clients' problems. Its engineering services range from traditional engineering disciplines, such as piping, mechanical, electrical, control systems, civil, structural and architectural to advanced engineering specialties, including process engineering, chemical engineering, simulation, enterprise integration, integrated automation processes and interactive three-dimension (3-D) modeling. Through its design solutions, it provides clients with a varied group of service offerings, which can include front-end engineering, conceptual design, estimating, feasibility studies, permitting, process simulation, technology and licensing evaluation, scope definition and siting.
Fluor's procurement organization offers traditional procurement services, as well as supply chain solutions. Its traditional procurement activities include strategic sourcing, material management, contracts management, buying, expediting, supplier quality inspection and logistics. In construction, Fluor mobilizes, executes, commissions and demobilizes projects on a self-perform or subcontracted basis. Fluor also provides various fabrication and modularization services, including integrated engineering and modular fabrication and assembly, modular construction and asset support services.
Under its operations and maintenance contracts, the Company delivers total maintenance services, facility management, plant readiness, commissioning, start-up and maintenance technology, small capital projects, turnaround and outage services. The Company also provides management, staffing and management skills, as well as equipment, tools and fleet services to clients on-site at their facilities. Its MMAI activities also include routine and outage/turnaround maintenance services, general maintenance and asset management, emissions reduction technologies and services, and restorative, repair, predictive and prevention services.
The Company also offers services under project management. Its project management services include logistics, development of project execution plans, detailed schedules, cost forecasts, progress tracking and reporting and the integration of the engineering, procurement and construction efforts.
Energy, Chemicals & Mining
Energy, Chemicals & Mining is the Company's commodity-related segment where it focuses on opportunities in the upstream, downstream, chemical, petrochemical, offshore and onshore oil and gas production, liquefied natural gas, pipeline, metals and mining markets. It serves a range of commodity-based industries as an integrated solutions provider offering a range of design, engineering, procurement, construction, fabrication and project management services. In the upstream sector, its clients need to develop additional and new sources of supply. Its projects in the upstream sector revolve around the production, processing and transporting of oil and gas resources, including the development of infrastructure associated with major new fields and pipelines, as well as Liquefied Natural Gas (LNG) projects. It is also involved in offshore production facilities and in conventional and unconventional gas projects in various geographical locations. In the downstream sector, it continues to pursue global opportunities relating to refined products. In mining and metals, it provides a range of services to the bauxite, copper, gold, iron ore, diamond, nickel, alumina, aluminum and other commodity-based industries. These services include feasibility studies through detailed engineering, design, procurement, construction, and commissioning and start-up support.
Industrial, Infrastructure & Power
The Industrial & Infrastructure segment provides design, engineering, procurement, construction and project management services to the transportation, life sciences, advanced manufacturing, water and power sectors. In infrastructure, the Company is engaged in developing projects for both domestic and international governments, such as roads, highways, bridges and rail. It provides a range of services, including consulting, design, planning, financial structuring, engineering and construction. It also provides long-term operation and maintenance services for transit and highway projects. For the advanced manufacturing market, the Company provides design, engineering, procurement, construction and construction management services to a range of industries on a global basis. It specializes in designing fit-for-purpose projects. In life sciences, the Company provides design, engineering, procurement, construction and construction management services to the pharmaceutical and biotechnology industries. It also specializes in providing validation and commissioning services where it not only brings new facilities into production but it also keeps existing facilities operating.
In the power market, the Company provides a range of services to the gas fueled, nuclear, environmental compliance, renewables and solid fueled markets. Its offering includes engineering, procurement, construction, program management, start-up and commissioning and technical services. It provides these services to a range of utilities, independent power producers, original equipment manufacturers and other third parties.
The Company's Government segment is a provider of engineering, construction, logistics, base and facilities operations and maintenance, contingency response and environmental and nuclear services to the United States Government and Governments abroad. For the energy sector, it provides site management, environmental remediation, decommissioning, engineering and construction services. It also manages the processing of low-level and high-level radioactive waste, as well as development plans for on-site or off-site safe disposal of nuclear waste.
The Government segment also provides engineering and construction services, logistics and life-support, as well as contingency operations support, to the defense sector. It also supports the military logistical and infrastructure needs around the world. The Company provides life-support, engineering, procurement, construction and logistical augmentation services to the United States military and coalition forces in various international locations, with a focus on the United States military-related activities in and around the Middle East and in Afghanistan and Africa. Through its subsidiary, Fluor Federal Solutions, the Company provides outsourced services to the United States Government. The Company provides operations and maintenance services at military bases and education and training services to the Department of Labor through Job Corps programs. In addition, it provides construction services to new and existing facilities for the United States military. The Company is also engaged in providing support to the Department of Homeland Security. The Company is engaged in supporting the United States Government's rapid response capabilities to address security issues and disaster relief through Federal Emergency Management Agency.
Maintenance, Modification & Asset Integrity
The MMAI segment represents a combination of other operating segments that provide a range of integrated solutions to support projects across Fluor groups and its clients all over the world. Activities in this segment include providing facility start-up and management, plant and facility maintenance, operations support and asset management services to the oil and gas, chemicals, life sciences, mining and metals, consumer products and manufacturing industries. It focuses on asset management solutions, as well as providing services in diverse areas, such as electrical and instrumentation, fabric maintenance, mechanical and piping. It also provides inspection and integrity services to its clients. Through its power services business line, it offers a range of services to owners, including fossil, renewable and nuclear plant maintenance, facility management, operations support, asset performance improvement, capital modifications and improvements, operations readiness and start-up commissioning on a global basis. It has annual maintenance and modification contracts covering full generation fleets within the utility generation market.
MMAI also provides Site Services and fleet management services, through AMECO. AMECO provides integrated construction equipment, tool, and fleet service solutions to the Company and third-party clients on a global basis for construction projects and plant sites. AMECO supports large construction projects and plants at locations throughout North and South America, Africa, the Middle East, Australia and Southeast Asia. MMAI serves the staffing market through TRS. TRS is a global enterprise of staffing specialists that provides the Company and third-party clients with technical, professional and craft resources either on a contract or permanent placement basis.
The Company competes with Bechtel Group, Inc., CH2M Hill Companies, Ltd., Jacobs Engineering Group, Inc., KBR, Inc., Kiewit Corporation, Granite Construction, Inc., AECOM, AMEC Foster Wheeler plc, Balfour Beatty plc, Chicago Bridge and Iron Company N.V., Chiyoda Corporation, Hyundai Engineering & Construction Company, Ltd., JGC Corporation, Petrofac Limited, SNC-Lavalin Group, Inc., Samsung Engineering, TechnipFMC plc and WorleyParsons Limited.
6700 Las Colinas Blvd
IRVING TX 75039