Fluor secures Sasol's tar separator replacement project in South Africa Fluor announced that it has begun work on a new project for Sasol Technology Pty. Ltd. in South Africa for its Tar Separator Project. The new contract is for engineering, procurement and construction management services for the replacement of 24 duplex stainless steel separator tanks. The undisclosed contract value was booked in the second quarter. Construction will begin using shifts working 24-hours-per-day, seven days-per-week to shorten the construction schedule and to enable ongoing production while the project is under way. Construction is expected to be complete by mid-2015.
News For FLR From The Last 14 Days
Check below for free stories on FLR the last two weeks.
Fluor awarded $185M contract for Sharq Crossing program in Qatar Fluor announced that the company executed a contract with Qatar's Public Works Authority to provide program management and construction supervision services for the approximately $5B Sharq Crossing program - previously referred to as the Doha Bay Crossing program. A formal notice of award was received in January and the contract was recently signed by both parties. The approximately $185M contract will be booked in Fluor's Q2.
Fluor reaches settlement covering all outstanding issues on Greater Gabbard Fluor announced today that the company and Greater Gabbard Offshore Winds have reached a settlement on all outstanding claims related to the construction of the Greater Gabbard offshore wind farm project located off the coast of Suffolk, England. Financial terms of the settlement will not be disclosed and there is no material financial impact to Fluor. The agreement fully resolves all disputes and concludes Fluor's involvement in the project.
On The Fly: Analyst Initiation Summary Today's noteworthy initiations include: Chicago Bridge & Iron (CBI) initiated with a Buy at Deutsche Bank... Fluor (FLR) initiated with a Buy at Deutsche Bank... Infinity Pharmaceuticals (INFI) initiated with an Outperform at Wells Fargo... Jacobs Engineering (JEC) initiated with a Hold at Deutsche Bank... KBR (KBR) initiated with a Buy at Deutsche Bank... MasTec (MTZ) initiated with a Buy at Deutsche Bank... McDermott (MDR) initiated with a Hold at Deutsche Bank... Merit Medical (MMSI) initiated with a Hold at Benchmark Co... Ocean Power (OPTT) initiated with a Strong Buy at Ascendiant Capital... Quanta Services (PWR) initiated with a Buy at Deutsche Bank... ZELTIQ Aesthetics (ZLTQ) initiated with a Buy at Maxim... Evercore Partners (EVR) initiated with a Positive at Susquehanna... Alexander & Baldwin (ALEX) initiated with an Outperform at JMP Securities... Myriad Genetics (MYGN) coverage resumed with an Overweight at Stephens... Pinnacle Foods (PF) initiated with a Buy at Janney Capital.
