Corporate News Blog – Fluor Corp. Signs MoU with Saudi Arabian Mining Firm, Ma’aden

LONDON, UK / ACCESSWIRE / June 30, 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 June 28, 2017, that it has 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. Fluor has already worked with Ma’aden for over 10 years, where the Company executed work in excess of $15 billion for projects, including the Ma’aden Aluminum Complex and the ongoing Umm Wu’al Phosphate Project. For immediate access to our complimentary reports, including today’s coverage, register for free now at: http://protraderdaily.com/register/.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on FLR. Go directly to your stock of interest and access today’s free coverage at: http://protraderdaily.com/optin/?symbol=FLR.

The Announcement

Under terms of the MoU, Fluor will be considered for conceptual, pre front-end engineering and design (FEED), engineering, procurement, and construction management, and program management contracting for future projects. This understanding would enable both the Companies to increase their involvement in Saudi Arabia and expand their services and offerings, outside the Kingdom. Fluor has been operating in Saudi Arabia since 1947, and under the partnership with Ma’aden, the Company has delivered several of their mega-projects.

The Umm Wu’al Phosphate Project

Ma’aden and J.V. partners, under collaboration, are building a new phosphate plant in Wa’ad Al Shamal Industrial City, where other mineral and secondary production industries will be added at a later date. Once completed the facility will have an annual capacity of 3 million MTPA of DAP/MAK and NPK fertilizers, and will be one of the largest integrated phosphate fertilizer facilities in the world.

Fluor has hired more than 80 Saudi national to support the project, who were delivered detailed training on Fluor’s processes and procedures. The Company set a goal of at least 20% Saudi local content, with a peak site workforce of 28,000 spanning more than 50 nationalists. Fluor additionally implemented its world-class safety programs, including Fluor’s Life CriticalSM program, to support the project. As a result of these programs, the project, across all contractors, has achieved more than 31 million work hours without a lost-time incident as of January 2017.

Other Contracts

Fluor, along with CH2M and BWX Technologies, formed a joint venture, namely, Four Rivers Nuclear Partnership, LLC, which was awarded the Paducah Deactivation and Remediation contract on May 30, 2017. The performance-based contract is valued at about $1.5 billion over 10 years. Also, the base term is 5 years, valued at about $750 million, followed by 3-year and 2-year options periods valued at a total of about $750 million combined.

The Company was additionally awarded the WoodFibre LNG Project in Canada, where it signed a definitive agreement on February 16, 2017, with JGC America, Inc., to deliver construction-related support to the front-end engineering and design services for the Woodfibre Liquefied Natural Gas project in the District of Squamish near Vancouver, British Columbia, Canada. The proposed facility will be powered by electricity from BC Hydro, which currently generates more than 90% clean renewable energy and helps create one of the cleanest LNG facilities in the world. Fluor booked the undisclosed contract value in Q4 FY16.

Last Close Stock Review

On Thursday, June 29, 2017, the stock closed the trading session at $45.07, marginally down 0.66% from its previous closing price of $45.37. A total volume of 830.97 thousand shares have exchanged hands. Fluor’s stock price advanced 0.47% in the last one month. The stock is trading at a PE ratio of 26.72 and has a dividend yield of 1.86%. The stock currently has a market cap of $6.28 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

ReleaseID: 467194