Featured Company News – Fluor Selected for BHP’s South Flank Mining Project in Australia

LONDON, UK / ACCESSWIRE / August 4, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Fluor Corp. (NYSE: FLR), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=FLR. The Company announced on August 02, 2017, declared that it was awarded a project and construction management services contract by BHP Billiton Ltd (NYSE: BHP), a leading global resources Company, for its South Flank iron ore project located in the Pilbara region of Western Australia. Fluor also announced that it would book the undisclosed contract value in the third quarter of 2017. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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Tony Morgan’s views on the Contract

Tony Morgan, President of Fluor’s Mining and Metals business expressed his enthusiasm about the opportunity to support BHP on this important project. He mentioned that Fluor is looking forward to continuing its long and successful relationship with BHP. In fact, he was thrilled that BHP had acknowledged how Fluor’s execution capabilities and experience would help it develop the project successfully.

Fluor and BHP Billiton to Work Together as Integrated Product Team

As per the contract, Fluor and BHP will manage the project together as an integrated project team. And the work would be performed from BHP’s office in Perth, Australia.

It is well known that Fluor’s project execution teams are leaders in the industry. The South Flank project will draw on Fluor’s capabilities and resources worldwide. For the upcoming scope of work, Fluor plans to work with BHP to optimize the feasibility study design with a focus on execution readiness and capital efficiency. However, the decision to move forward with the execution phase of the project is expected in mid-2018.

Other Recent Contracts secured by Fluor

Fluor Corporation signed a memorandum of understanding (MOU) with Saudi Arabian Mining Company (Ma’aden) to support future Ma’aden projects located within and outside the Kingdom of Saudi Arabia on June 28, 2017. As per the MOU, Fluor would be considered for conceptual; pre-front-end engineering and design (FEED); engineering, procurement, and construction management; and program management contracting services for future projects. This contract would allow both Ma’aden and Fluor to increase their involvement in Saudi Arabia and also expand their services outside the Kingdom.

Prior to that, Fluor was awarded a contract by GlobalFoundries to provide onsite maintenance and operations support for its microprocessors and water fabrication units at Global Foundries’ Burlington, Vermont and Fishkill, New York locations on June 13, 2017.

Fluor announced Quarterly Dividend

Fluor’s Board of Directors announced a quarterly cash dividend of $0.21 per share on its common stock on August 02, 2017. The dividend would be payable on October 03, 2017, to shareholders of record on September 05, 2017.

About Fluor Corp.

Fluor is a global engineering, procurement, fabrication, construction, and Maintenance Company, which designs, builds as well as maintains capital-efficient facilities for its clients on six continents. Fluor has been providing innovative and integrated solutions to its clients for more than a century now. The Company is headquartered in Irving, Texas, and has approximately 60,000 employees worldwide. Currently, it ranks 149 on the Fortune 500 list and reported revenue of $19 billion in 2016.

About BHP Billiton

BHP Billiton is an Anglo-Australian multinational mining, metals, and petroleum public Company. BHP Billiton is among the world’s top producers of major commodities including iron ore, metallurgical coal, copper, and uranium. The Company also has substantial interests in oil, gas, and energy coal. It is headquartered in Melbourne, Australia. The Company was founded in 1885 in the isolated mining town of Broken Hill.

Last Close Stock Review

On Thursday, August 03, 2017, Fluor’s stock closed the trading session at $43.86, slightly up 0.05% from its previous closing price of $43.84. A total volume of 1.85 million shares were exchanged during the session, which was above the 3-month average volume of 1.43 million shares. Shares of the Company have a PE ratio of 26.00 and have a dividend yield of 1.92%. The stock currently has a market cap of $6.26 billion.

On Thursday, August 03, 2017, the stock closed the trading session at $40.80, marginally down 0.87% from its previous closing price of $41.16. A total volume of 1.47 million shares have exchanged hands. BHP Billiton’s stock price soared 12.09% in the last one month, 20.64% in the past three months, and 36.55% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 14.03%. The stock is trading at a PE ratio of 43.78 and has a dividend yield of 2.65%. The stock currently has a market cap of $108.57 billion.

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