Rermag 11868 Ameco Yard Pic With Jlg
Rermag 11868 Ameco Yard Pic With Jlg
Rermag 11868 Ameco Yard Pic With Jlg
Rermag 11868 Ameco Yard Pic With Jlg
Rermag 11868 Ameco Yard Pic With Jlg

Fluor Says There’s Significant Interest in Buying AMECO

Nov. 10, 2019
Fluor Corp. said on its third quarter conference call last week that it has received significant interest in its rental business AMECO as well as its government business.

Fluor Corp. said on its third quarter conference call last week that it has received significant interest in its rental business AMECO as well as its government business.

“It's very early in the process, but I can tell you that there is significant interest with respect to both businesses,” said Fluor Corp. CEO Carlos Hernandez. “We've engaged our investment bankers to both businesses. We've got a list of interested buyers and will be progressing very promptly. We're probably a little bit further ahead on the bid on the rental business, but we expect to close both transactions probably no later than mid-2020 and we're very, very positive about how those are going to progress.”

Fluor Corp. posted a net loss from continuing operations, not including the two for-sale businesses of $782 million in the third quarter, although third quarter revenue was $3.9 billion compared to $3.8 billion in last year’s third quarter.

The Irving, Texas-based company announced in September that it was looking to sell its government and AMECO equipment businesses to create an excess of $1 billion in aggregate proceeds. It also stated it was looking to monetize surplus real estate and other non-core investments as part of the asset sales after a strategic review.