Fluor Profile
Fluor Corporation provides professional and technical solutions that deliver safe, well-executed, capital-efficient projects to its clients around the globe. Acting through its many subsidiaries and interests in joint ventures, the company is one of the larger global professional services firms providing EPC, fabrication and modularization, and project management services. The company provides these services to its clients in diverse industries worldwide including advanced technologies and manufacturing, chemicals, infrastructure, life sciences, LNG, mining and metals, nuclear project services, energy transition, and oil and gas production and fuels. The company provides services to the U.S. federal government and governments abroad.
Strategic Priorities
The key elements of the company’s strategy are to drive growth across its portfolio, by diversifying markets outside of the traditional oil and gas sector, including energy transition, advanced technology and life sciences, high-demand metals, infrastructure and nuclear and civil, defense and intelligence for governments; and pursue contracts with fair and balanced commercial terms, focusing on more favorable, risk-adjusted agreements that reward Fluor for delivering value to its clients.
Core Values
The company’s Core Values serve as its behavioral compass, guiding all of its actions.
General Operations
The company’s services fall into 6 broad categories and can range from basic consulting activities, often at the early stages of a project, to complete design-build, operations and maintenance contracts.
In engineering and design, the company develops solutions to address its clients’ most complex problems. The company’s 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, integrated automation processes and interactive 3-D modeling. Through its design solutions, the company can provide clients with varied offerings which can include front-end engineering, conceptual design, estimating, feasibility studies, permitting, process simulation, technology and licensing evaluation, scope definition and siting.
Project management involves managing all aspects of the effort to deliver projects on schedule and within budget, and is critical on every project.
The company’s procurement offerings represent supply chain solutions aimed at improving product quality and performance. The company’s clients draw upon its global sourcing and supply expertise, global purchasing power, technical knowledge, processes, systems and experienced global resources. The company’s procurement activities include strategic sourcing, material management, contracts management, buying, expediting, supplier quality inspection and logistics.
In construction, the company mobilizes, executes and commissions projects on a self-perform and/or subcontracted basis. Generally, the company is responsible for the completion of a project, often in difficult locations and under challenging circumstances. The company is frequently designated as program manager, and serves as such in cases where the client has facilities in multiple locations, complex phases in a single project location, or a large-scale investment in one facility.
The company offers operations and maintenance services intended to enhance the efficiency of or extend the life of its clients’ facilities. This may include the delivery of services to include facility management, technical facility operations, plant readiness, commissioning, start-up and maintenance technology, small capital projects, turnaround and outage services and recapitalization of facilities and infrastructure. Among other things, the company can provide key management, staffing and management skills to clients on-site at their facilities.
The company also provides a variety of fabrication and modularization services, including integrated engineering and modular fabrication and assembly, as well as modular construction and asset support services to clients around the globe from its joint ventures.
Segments
The company operates through four segments: Energy Solutions, Urban Solutions, Mission Solutions and Other.
Energy Solutions
The company is a partner in the production of safer, cleaner and sustainable solutions to meet the world's increasing energy and chemicals demand. The company’s Energy Solutions segment provides EPC services for the production and fuels, chemicals, LNG and power markets. The company serves the oil, gas, chemical and power industries with full project life-cycle services, including expansion and modernization projects, as well as in sustaining capital work. The company has an extensive skill set that focuses on energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power and other low-carbon energy sources.
The company’s role can vary with each specific project. The company may be involved in providing front-end engineering, program management and final design services, construction management services, self-perform construction, or oversight of other contractors, and it may also assume responsibility for the procurement of materials, equipment and subcontractors. The company has the capacity to design, fabricate and construct new facilities, upgrade, optimize, modernize and expand existing facilities, and rebuild facilities following their destruction. The company also provides consulting services ranging from feasibility studies to process assessments to project finance structuring.
In production and fuels, the company executes projects for the oil and gas production, processing and refining industries, including an increasing component of energy transition. In the upstream sector, the company’s typical projects involve the production, processing and transporting of oil and gas, including the development of infrastructure associated with major new fields and pipelines. The company is also involved in offshore production facilities and in gas processing projects. In the downstream sector, the company’s clients have been modernizing and modifying existing refineries to increase capacity, improve margins and reduce environmental impact. The company is active in the repurposing of existing refining facilities for the production of renewable fuels. The company focuses on other transition markets, such as carbon capture and sequestration, blue and green hydrogen, ammonia and other low carbon solutions, as an increasing number of clients and countries implement stronger sustainable energy goals.
The company has been very active for several decades in the chemicals and petrochemicals market, with major projects in the ethylene-based markets, as well as in a variety of specialty chemicals. The company is also active in battery chemicals projects and it executes projects to implement lower carbon solutions on existing and new chemical facilities.
In LNG and power, the company has participated in a wide variety of LNG developments, including liquefaction, floating LNG facilities, mid-scale LNG solutions and regasification terminals. The company’s work in LNG includes feasibility studies, technology evaluations, process equipment optimization and selection, basic design, front-end engineering and design, detailed EPC and start-up assistance. In the power market, the company provides a full range of services utilizing small modular reactor technologies, as well as conventional and advanced nuclear reactor technologies. The company selectively executes non-nuclear power projects, typically in connection with energy transition or infrastructure facilities.
Urban Solutions
For the advanced technologies and manufacturing market, the company provides program management and EPC services to a wide variety of companies on a global basis. The company’s experience spans a wide variety of market segments, including advanced materials, data centers, fast-moving consumer goods, food and beverage, semiconductors, smart batteries and specialty products. The company specializes in designing projects that incorporate lean manufacturing concepts while also satisfying clients' sustainability goals.
In life sciences, the company provides front end studies and EPC services to the pharmaceutical, biotechnology, medical device and animal health industries. The company also specializes in providing validation and commissioning services. In mining and metals, the company provides a full range of services to its clients who produce a variety of commodities, including copper, iron ore, bauxite, alumina, aluminum, steel, diamond, gold, phosphates and rare earth minerals. The company supports its clients as they meet the growing demand for copper and battery metals, including lithium, platinum and nickel. The company also serves the fertilizer industry and provide services in the downstream metals market. The company’s services include conceptual and feasibility studies through detailed EPC, commissioning and startup support. Many of the company’s opportunities are being developed in remote and logistically challenging environments, such as the Andes Mountains, Western Australia and Africa.
In infrastructure, the company supports the development of infrastructure projects with a focus on state departments of transportation. The company provides a broad range of services including consulting, design, planning, financial structuring, engineering and construction and operation and maintenance services often delivered under joint ventures with other companies. Continuing urbanization and the replacement and expansion of aging infrastructure in North America continues to drive project opportunities.
The segment's staffing services are often provided through TRS Staffing Solutions, a global staffing specialist that provides the company and third-party clients with technical, professional and craft resources either on a contract or permanent placement basis.
The company provides operations, maintenance and reliability services, primarily in North America, through Plant & Facility Services.
Mission Solutions
Mission Solutions provides high-end technical solutions to the U.S. and other governments. The segment's nuclear and civil business holds a tier 1 position with differentiated expertise in managing complex national security missions across the Department of Energy and the National Nuclear Security Administration. The company delivers solutions for nuclear security and operations, nuclear waste management and laboratory management. Additionally, the company is an industry leader in nuclear remediation at governmental facilities providing site management, environmental remediation, and decommissioning of facilities and has been successful in addressing environmental and regulatory challenges associated with nuclear sites. The company also provides services to commercial nuclear clients. In civil services, the company is a partner to FEMA for disaster recovery and emergency response.
In defense, the company delivers operations and maintenance, global logistics, EPC, life support and operations of mission-critical facilities across U.S. military service organizations. For its intelligence clients, the company has more than 600 security-cleared personnel providing critical solutions, such as data center management, operations and maintenance of secure facilities and technology platform services. The company constructs and renovates secure facilities around the world for various agencies in support of their enduring missions.
Other
The company’s other operations include the operations of Stork and NuScale, in which it is the majority investor. NuScale has developed SMR technology that is NRC approved, which will be important in the development of light water, passively safe SMRs.
In the first quarter of 2023, the company sold its AMECO South America operations, thereby completing the divestiture of its equipment business. In the third quarter of 2023, the company agreed to sell Stork's European business. This transaction is expected to close in the first half of 2024. During the fourth quarter of 2023, the company sold the Stork business in Latin America, largely for the assumption of debt by the purchaser.
Competition
A large number of companies compete against the company, including U.S.-based companies, such as AECOM, Amentum Services, Inc.; Bechtel Group, Inc.; Black & Veatch; EMCOR Group, Inc.; Jacobs Solutions, Inc.; KBR, Inc.; Kiewit Corporation; Granite Construction, Inc.; Quanta Services, Inc.; and V2X, Inc. The company also competes with international-based companies, such as ACS Actividades de Construccion y Servicios; Balfour Beatty plc; Chiyoda Corporation; Exyte GmbH; Hyundai Engineering & Construction Company, Ltd.; JGC Corporation; McDermott International, Inc.; Petrofac Limited; SNC-Lavalin Group, Inc.; Samsung Engineering, Stantec Inc.; Technip Energies N.V.; Wood Group plc; and WorleyParsons Limited.
History
Fluor Corporation was founded in 1912. The company was incorporated in Delaware in 2000.
