Top contractor looks to streamline company following negative results for two consecutive quarters
Fluor Corporation (listed No. 2 on Engineering News Record’s Top 400) announced it will sell two of its business divisions and monetize excess real estate for an estimated $1 billion in proceeds. The firm will sell AMECO, its construction equipment rental company, and its government business division.
The company conducted a strategic review during the second quarter of 2019, and withdrew its 2019 profit outlook and took a $714 million charge in Q2. Fluor will also close and realign certain regional offices, which will amount to an estimated savings of $100 million per year.