Fluor Corporation (ticker: FLR, exchange: New York Stock Exchange (.N))
News Release -
Fluor Gains Eastman Chemical Gasification Plant Feed Work
HOUSTON, Texas--(BUSINESS WIRE)--July 27, 2007--Fluor Corporation
(NYSE: FLR) announced today that it was selected by Eastman Chemical
Company (NYSE:EMN) to provide front-end engineering and design (FEED)
work for a $1.6 billion gasification project along the Texas Gulf
Coast. The initial FEED scope has a contract value of $12 million and
was booked during the second quarter 2007.
Eastman Chemical will be the developer, operator, co-investor and
customer of the project, which primarily will use petroleum coke
instead of natural gas to produce industrial chemicals used in a
variety of consumer-end products.
"Fluor has had a continuous 40-year relationship with Eastman
Chemical, and the development of coal and petroleum coke to chemicals
technologies is a strategic growth area for our company," said David
Seaton, Fluor's group president for Energy & Chemicals. "This is an
important project for Eastman Chemical in the United States, and we're
pleased they selected Fluor to be on their team."
The facility will be located in Beaumont, Texas, and is projected
to be online in 2011. It will produce low-cost intermediate chemicals,
including methanol, hydrogen and ammonia.
Fluor Corporation (NYSE: FLR) provides services on a global basis
in the fields of engineering, procurement, construction, operations,
maintenance and project management. Headquartered in Irving, Texas,
Fluor is a FORTUNE 500 company with revenues of $14.1 billion in 2006.
For more information, visit www.fluor.com.
CONTACT: Fluor Corporation, Irving
Keith Stephens, 469-398-7624
Steve Roth, 469-398-7623
Ken Lockwood, 469-398-7220
Jason Landkamer, 469-398-7222
SOURCE: Fluor Corporation