Brazil-based CFPS Engenharia e Projetos, S.A. to pursue engineering, procurement and construction management projects
IRVING, Texas & SẴO PAULO--(BUSINESS WIRE)--Jul. 23, 2012-- Fluor Corporation (NYSE: FLR) announced today that it has formed a new joint venture with Sẵo Paulo-based Construcap, called CFPS Engenharia e Projetos, S.A., to pursue engineering, procurement and construction management (EPCM) projects in Brazil. Construcap has been active in the Brazilian market for nearly 70 years and is one of Brazil's largest construction companies serving the industrial, commercial and heavy civil markets. The joint venture, CFPS Engenharia e Projetos, will link Construcap's notable growing and sustained presence in Brazil with Fluor's project execution leadership. Financial terms of the joint venture were not disclosed.
"With CFPS, Fluor will strengthen its global footprint in Brazil thereby adding to its Latin America network of offices to support the region's growing market development needs," said David Seaton, Fluor's chairman and CEO. "Our vision for CFPS is to offer clients in Brazil world-class, safe and sustainable services from feasibility studies all the way to complete EPCM services. We believe this new team will improve and enable our clients' project and operational objectives as well as provide value for our shareholders, employees and the Brazilian communities."
"We are very pleased to have Fluor as our CFPS's partner," said Roberto Capobianco, president of Construcap. "Brazilian clients will benefit greatly from this newly-formed engineering capacity to provide world-class quality and efficiency standards."
Construcap and Fluor will combine to provide structured technology process transfer and human resources to CFPS to bring improved project performance and predictability to Brazilian clients. The joint venture will include the pursuit of new capital projects for oil, gas and chemicals markets, new power generation, life sciences, automotive and other manufacturing industries.
Construcap is a privately-held Brazilian construction company founded in 1944. It serves a number of industries including oil & gas, infrastructure, power, mining & metals, automotive & manufacturing. Construcap had 2011 revenue of US$1 billion with 12,000 employees. Its success is based on a continuous development process and in technological innovation with a constant concern about social responsibility and respect for the environment. For more information, visit http://www.construcap.com.br.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) designs, builds and maintains many of the world's most challenging and complex projects. Founded in 1912, the company was started by John Simon Fluor Sr. with a modest investment of $100. Since those humble beginnings, the company has grown into one of the largest engineering & construction companies in the world. Fluor is celebrating its 100th anniversary during 2012.
Today, through its global network of offices on six continents, the company provides comprehensive capabilities and world-class expertise in engineering, procurement, construction, commissioning, operations, maintenance and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200 company and had revenue of $23.4 billion in 2011. For more information, visit http://www.fluor100.com and http://www.fluor.com.
Source: Fluor Corporation
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