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Report Date : |
01.12.2014 |
IDENTIFICATION DETAILS
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Name : |
FLUOR CORPORATION |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
11.09.2000 |
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Legal Form : |
Public Company |
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Line of Business : |
Subject provides engineering, procurement, construction, fabrication and
modularization, commissioning and maintenance, and project management
services worldwide. The company operates in five segments: Oil & Gas, Industrial &
Infrastructure, Government, GlobalServices, and Power. |
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No. of Employees : |
38,129 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Exist |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
UNITED STATES - ECONOMIC
OVERVIEW
The US has
the largest and most technologically powerful economy in the world, with a per capita
GDP of $49,800. In this market-oriented economy, private individuals and
business firms make most of the decisions, and the federal and state
governments buy needed goods and services predominantly in the private
marketplace. US business firms enjoy greater flexibility than their
counterparts in Western Europe and Japan in decisions to expand capital plant,
to lay off surplus workers, and to develop new products. At the same time, they
face higher barriers to enter their rivals' home markets than foreign firms
face entering US markets. US firms are at or near the forefront in
technological advances, especially in computers and in medical, aerospace, and
military equipment; their advantage has narrowed since the end of World War II.
The onrush of technology largely explains the gradual development of a
"two-tier labor market" in which those at the bottom lack the
education and the professional/technical skills of those at the top and, more
and more, fail to get comparable pay raises, health insurance coverage, and
other benefits. Since 1975, practically all the gains in household income have
gone to the top 20% of households. Since 1996, dividends and capital gains have
grown faster than wages or any other category of after-tax income. Imported oil
accounts for nearly 55% of US consumption. Crude oil prices doubled between
2001 and 2006, the year home prices peaked; higher gasoline prices ate into
consumers' budgets and many individuals fell behind in their mortgage payments.
Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures
more than doubled in the same period. Besides dampening the housing market,
soaring oil prices caused a drop in the value of the dollar and a deterioration
in the US merchandise trade deficit, which peaked at $840 billion in 2008. The
sub-prime mortgage crisis, falling home prices, investment bank failures, tight
credit, and the global economic downturn pushed the United States into a
recession by mid-2008. GDP contracted until the third quarter of 2009, making
this the deepest and longest downturn since the Great Depression. To help
stabilize financial markets, in October 2008 the US Congress established a $700
billion Troubled Asset Relief Program (TARP). The government used some of these
funds to purchase equity in US banks and industrial corporations, much of which
had been returned to the government by early 2011. In January 2009 the US
Congress passed and President Barack OBAMA signed a bill providing an
additional $787 billion fiscal stimulus to be used over 10 years - two-thirds
on additional spending and one-third on tax cuts - to create jobs and to help
the economy recover. In 2010 and 2011, the federal budget deficit reached
nearly 9% of GDP. In 2012 the federal government reduced the growth of spending
and the deficit shrank to 7.6% of GDP. Wars in Iraq and Afghanistan required
major shifts in national resources from civilian to military purposes and
contributed to the growth of the budget deficit and public debt. Through 2011,
the direct costs of the wars totaled nearly $900 billion, according to US
government figures. US revenues from taxes and other sources are lower, as a
percentage of GDP, than those of most other countries. In March 2010, President
OBAMA signed into law the Patient Protection and Affordable Care Act, a health
insurance reform that was designed to extend coverage to an additional 32
million American citizens by 2016, through private health insurance for the
general population and Medicaid for the impoverished. Total spending on health
care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In
July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer
Protection Act, a law designed to promote financial stability by protecting
consumers from financial abuses, ending taxpayer bailouts of financial firms,
dealing with troubled banks that are "too big to fail," and improving
accountability and transparency in the financial system - in particular, by
requiring certain financial derivatives to be traded in markets that are
subject to government regulation and oversight. In December 2012, the Federal
Reserve Board (Fed) announced plans to purchase $85 billion per month of
mortgage-backed and Treasury securities in an effort to hold down long-term
interest rates, and to keep short term rates near zero until unemployment drops
below 6.5% or inflation rises above 2.5%. In late 2013, the Fed announced that
it would begin scaling back long-term bond purchases to $75 billion per month
in January 2014 and reduce them further as conditions warranted; the Fed,
however, would keep short-term rates near zero so long as unemployment and
inflation had not crossed the previously stated thresholds. Long-term problems
include stagnation of wages for lower-income families, inadequate investment in
deteriorating infrastructure, rapidly rising medical and pension costs of an
aging population, energy shortages, and sizable current account and budget
deficits.
|
Source
: CIA |
Your order on: FLOUR CORPORATION
The correct name is:
Company name: FLUOR CORPORATION
Address: 6700 Las Colinas Blvd
Irving, TX 75039 - USA
Telephone: +1
469.398.7000
Fax: +1 469.398.7255
Website: www.fluor.com
Corporate ID#: 3286309
State: Delaware
Judicial form: Public
Company (NYSE = FLR)
Date incorporated: September
11, 2000
Stock: 156,220,578
shares issued and outstanding
(as of 10-24-2014)
Value: USD
0.01= par value
Name of manager: David
T. SEATON
Business:
Fluor Corporation, through its subsidiaries, provides engineering, procurement,
construction, fabrication and modularization, commissioning and maintenance,
and project management services worldwide.
The company operates in five segments: Oil & Gas, Industrial &
Infrastructure, Government, GlobalServices, and Power.
The Oil & Gas segment offers a range of design, engineering,
procurement, construction, and project management services to upstream oil and
gas production, liquefied natural gas, downstream refining, offshore
production, pipeline, chemicals, and petrochemicals industries. It also
provides consulting services comprising feasibility studies, process
assessment, and project finance structuring and studies.
The Industrial & Infrastructure segment offers design, engineering,
procurement, and construction services to the mining and metals,
transportation, life sciences, manufacturing, commercial and institutional,
telecommunications, wind power, microelectronics, water, and healthcare
sectors.
The Government segment provides engineering, construction, logistics support,
contingency response, and management and operations services to the United
States government focusing on the Department of Energy, the Department of
Defense, and the Department of Homeland Security.
The Global Services segment offers fabrication, modularization, supply
chain solutions, construction services, site equipment and tool services,
industrial fleet services, and temporary staffing.
The Power segment provides engineering, procurement, construction,
program management, start-up and commissioning, operations and maintenance, and
technical services for the gas fueled, solid fuels, environmental compliance,
renewables, nuclear, and power services markets.
The company also offers unionized management and construction services
in the United States and Canada.
Fluor Corporation was founded in 1912 and is headquartered in Irving,
Texas.
Office of the Foreign
Assets Control (OFAC):
The company is not listed on the OFAC list.
The Specially Designated Nationals (SDN) List is a publication of OFAC
which lists individuals and organizations with whom United States citizens and
permanent residents are prohibited from doing business.
EIN: 33-0927079
Staff: 38,129
Operations & branches:
At the headquarters, we
find the corporate office, on lease.
Its subsidiary FLUOR
ENTERPRISES, INC. maintains several branches in the U.S. including the one
located:
1 Fluor Daniel Drive
Sugar Land, TX 77478
Ph: +1.281.263.1000
and
3 Polaris Way
Aliso Viejo, CA 92698
Tel: +1.949.349.2000
Shareholders:
The Company is listed with
the NYSE under symbol FLR.
As of 09-30-2014, 89% of
the stock was held by institutional and mutual fund owners, including:
|
JP Morgan Chase & Company |
11.34% |
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Vanguard Group, Inc. (The) |
6.19% |
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State Street Corporation |
4.97% |
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ClearBridge Investments, LLC |
4.79% |
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Brown Advisory Inc. |
3.06% |
Management:
David D. SEATON is the Chairman and CEO.
He has been the Chairman of the Board of Fluor Corporation since February
2, 2012 and has been its Chief Executive Officer since February 1, 2011.
Previously, Mr. Seaton served as the Chief Operating Officer of Fluor
Corporation at Savannah River Nuclear Solutions, LLC from November 2009 to
February 1, 2011. He served as a Senior Group President of Energy &
Chemicals, Power and Government Business Groups at Flour Corp. from March 23,
2009 to November 2009. He was responsible for Fluor's activities in China and
the Middle East. Mr. Seaton was responsible for Fluor Corporation's global
business activities in the upstream, downstream, pipeline, offshore, gas
processing, oil and gas production, chemicals, integrated petrochemical and
petroleum refining industries. He served as the Group President of Energy &
Chemicals at Fluor Corporation from February 2007 to March 23, 2009.
From April 2003 to September 2005, he served as Senior Vice President of
Fluor's Energy and Chemicals Sales group. He served as Senior Vice President of
Chemicals Business Line of Fluor Corporation from October 2004 to September
2005, as a Senior Vice President, Sales for Energy & Chemicals from March
2002 to October 2004 and as its Vice President of Sales from February 2000 to
March 2002. He served as Senior Vice President and Group Executive for Fluor's
global corporate sales with geographic responsibility for the Middle East from
September 2005 to February 2007. Since joining Fluor in 1984, he has held
numerous positions in both operations and sales in the U.S., Europe and the
Middle East, including Vice President and Managing Director of Fluor Arabia
Ltd. and Executive Director of the global pulp and paper industry and the
mining, metals and manufacturing industries in North America.
He has gained extensive operational and project management experience in
both home office engineering and site construction across a variety of
industries. He serves as Member of Board of Governors and Chairman of Southwest
Region at Boys & Girls Clubs of America, Inc. Mr. Seaton has been a
Director at of The Mosaic Company since April 2009. He has been a Director of
Fluor Corporation since February 3, 2011. He serves as a Director of Fluor
Arabia Ltd. and Fluor Daniel Nigeria Ltd. Mr. Seaton is also a member of
Fluor's Executive Development Forum. He is a Board Member of the American
Petroleum Institute. He served as a Director of Fluor Sales since September
2005.
He served as a Director of Fluor Foundation.
Mr. Seaton holds a Bachelor's degree from the University of South
Carolina.
He completed the Advanced Management Program at the Wharton School of
Business and Thunderbird University's International Management Program.
Biggs C. PORTER is Executive Vice President and CFO.
Subsidiaries and
partnership:
Several in the U.S and worldwide.
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Currency in |
As of: |
Dec 31 |
Dec 31 |
Dec 31 |
Dec 31 |
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REVENUES |
20,849.3 |
23,381.4 |
27,577.1 |
27,351 |
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NET INCOME |
357.5 |
593.7 |
456.3 |
667.7 |
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On attachment:
- 10K 2013
- 3rd 10 2014
Banks: Wells Fargo Bank
Legal filings
& complaints:
As of today date, there are legal filings pending with various Courts.
Secured debts
summary (UCC):
Several in various States.