Fluor Corporation announced that it has agreed to sell its Stork business in Belgium, Germany, the Netherlands and its turbo blading manufacturing operation in the United States to industrial services provider Bilfinger SE.

This divestiture advances Fluor’s strategic initiative to focus on its core businesses and capital priorities.

This transaction is subject to consultations with and advice from the representative body of the applicable works councils, consultations with the trade unions and receipt of regulatory clearances along with other customary conditions and, subject to these conditions, is expected to be completed in the first half of 2024.

Lazard is the financial advisor to Fluor on this transaction.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s 40,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $13.7 billion in 2022 and is ranked 303 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement and construction services for more than 110 years.

About Bilfinger

Bilfinger is an international industrial services provider. The aim of the Group's activities is to increase the efficiency and sustainability of customers in the process industry and to establish itself as the number one partner in the market for this purpose. Bilfinger’s comprehensive portfolio covers the entire value chain from consulting, engineering, manufacturing, assembly, maintenance and plant expansion to turnarounds and digital applications.
The company delivers its services in two service lines: Engineering & Maintenance and Technologies. Bilfinger is primarily active in Europe, North America and the Middle East. Process industry customers come from sectors that include energy, chemicals & petrochemicals, pharma & biopharma and oil & gas. With its ~30,000 employees, Bilfinger upholds the highest standards of safety and quality and generated revenue of €4.3 billion in financial year 2022. To achieve its goals, Bilfinger has identified two strategic thrusts: repositioning itself a leader in increasing efficiency and sustainability, and driving operational excellence to improve the organizational performance

About Stork

Stork, a Fluor company (NYSE: FLR), continually improves the performance of its clients’ assets through a wide range of integrated, innovative and data-driven solutions, from operations and maintenance to turnarounds and modifications. Stork is committed to growing its clients’ business sustainably and successfully by setting new standards of excellence in asset management. Underpinned by its core values — Safety, Integrity, Teamwork, Client Focus and Excellence — Stork aims to be the industry reference, every day, everywhere.