Published on 15 Mar 2023 on Zacks via Yahoo Finance
Fluor (FLR) Divests AMECO South America Business, Stock Down
Fluor Corporation’s FLR shares fell 0.8% in an after-hours trading session on Mar 14, post its announcement of the divestiture of the AMECO South America business. The business, which had assets in Chile and Peru, was sold to STRACON Group — a diversified strategic partner to the mining sector in the Americas.In conjugation with its strategic initiative to sell AMECO, this deal marks the last transaction and follows the divestiture of assets in Africa, the Caribbean, Mexico and North America.In early 2021, the company planned to sell the Stork and AMECO businesses. The sale of the North American portion of the AMECO equipment business was completed during second-quarter 2021.The company has been focusing on its new strategy, “Building a Better Future,” within which it has outlined four strategic priorities for driving shareholder value. First, the company intends to drive growth across portfolios by enhancing markets outside of the traditional oil and gas sector, including energy transition, advanced technology and life sciences, high-demand metals, infrastructure and mission solutions.
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