Fluor spins off equipment division for $73M

ConDig (May-6-21)  Engineering and construction group Fluor Corp has sold off its North American equipment and fleet services division AMECO to One Equity Partners for $73 million.

The deal forms part of the Irving, Texas-based company’s previously announced divestiture of the AMECO group after spinning off its Caribbean business in Jamaica in August and is actively marketing its remaining AMECO South America and ServiTrade Mozambique operations.

In February, Fluor reported a net loss from continuing operations of $115 million in the fourth quarter ended December 31 compared with a net loss of $294 million in the fourth quarter of 2019.

Profits were pared back despite revenue for the quarter falling to $3.7 billion from $4.4 billion a year ago.

For the full year 2020, Fluor booked a net loss from continuing operations of $294 million compared with a net loss of $1.5 billion in 2019. 

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