Fluor Corporation (NYSE: FLR) announced today that AMECO, its integrated mobile equipment and tool solutions unit, has formed a 70/30 joint venture with Mitsui & Co. (USA), Inc. The joint venture will be called AMECO Colombia, S.A.S., and will integrate the company’s proven equipment and execution services strategies with Mitsui’s longstanding experience and presence in Colombia.
AMECO also has a solid presence in Latin America with strong business in Chile, Peru, Panama and Mexico, along with projects in other locations. A new stronghold in Colombia will allow both AMECO and Mitsui to expand their collective footprint in the oil and gas industry.
“This project has been in the works for a long time, and Mitsui is a very complementary partner,” said Tracey Cook, AMECO’s vice president of global operations. “Mitsui brings numerous existing business relationships in Colombia as well as marketplace knowledge that will prove to be invaluable. Both companies share common values and unique vision for the development and execution of services to our clients.”
Colombia offers a wide variety of opportunity in the oil and gas and mining industries due to the expansion of mining areas and improvements in public safety and infrastructure. AMECO will bring its expertise in people, practices and asset management to the region together with its industry leading safety programs and commitment to regional sustainability to assist Colombia and its neighboring countries’ economic growth.
Mitsui has been operating in Colombia for more than 55 years, bringing regional knowledge and expertise to the development of this joint venture. They have been instrumental in the development of the machinery, infrastructure, steel, chemicals, energy and minerals marketplaces in Colombia.
AMECO, a unit of Fluor Corporation (NYSE: FLR), is the world's leader in integrated mobile equipment and tool solutions and has provided a wide range of services to construction, mining, government and industrial markets across the globe for over 65 years. The company is focused on three primary businesses: operations fleet services, construction site services and equipment distribution. Headquartered in Greenville, South Carolina, AMECO has office locations throughout the Americas and South Africa, as well as project locations all over the globe. For more information, visit www.ameco.com.
About Mitsui USA
Mitsui USA was incorporated in 1966 in New York as a wholly owned subsidiary of Mitsui & Co., Ltd., Tokyo, Japan, one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 148 offices in 67 countries as of August 1, 2013. Mitsui is multilaterally pursuing business that ranges from product sales, worldwide logistics and financing, through to the development of major international infrastructure and other projects in the following fields: Iron & Steel Products, Mineral & Metal Resources, Infrastructure Projects, Integrated Transportation Systems, Chemicals, Energy, Food Resources, Food Products & Services, Consumer Service, and Innovation & Corporate Development. Mitsui USA aspires to meet the needs of its customers as “Your Global Business Partner®,” while remaining committed to sustainable growth and good corporate citizenship. More information on Mitsui USA may be found at www.mitsui.com/us.
About Fluor Corporation
For more than 100 years, Fluor Corporation (NYSE: FLR) has partnered with its clients to design, build and maintain many of the world's most challenging and complex capital projects. Through its global network of offices on six continents, more than 41,000 employees provide comprehensive capabilities and world-class expertise in the fields of engineering, procurement, construction, commissioning, fabrication, operations, maintenance and project management. Today, the company serves a global client base in the energy, chemicals, government, industrial, infrastructure, operations & maintenance, manufacturing & life sciences, mining, power and transportation sectors. Headquartered in Irving, Texas, Fluor ranks 110 on the FORTUNE 500 list and had revenue of $27.6 billion in 2012. For more information, visit www.fluor.com and follow us on Twitter at @FluorCorp.
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