Flour to promote AMECO building rental unit in effort to achieve profitability
Fluor Company will promote its AMECO tools companies enterprise together with its government-facing enterprise, in accordance with a report by DallasNews.com.
The actions come after the Irving, Texas-based firm reported its worst-ever quarterly efficiency and changed its chairman, CEO and chief monetary officer. Second quarter outcomes confirmed the agency “took $714 million in pretax prices from value overruns, mission delays, shopper disputes and different malfunctions,” experiences the web site.
CEO Carlos Hernandez instructed analysts that each AMECO and the corporate’s authorities group offered invaluable diversification. “It was a troublesome choice to divest these high quality organizations,” he added, as quoted by the web site.
Flour acquired AMECO, previously the American Tools Firm, in 1977. The Greenville, South Carolina-based firm provides rental and different tools companies to a number of industries all through the world, together with heavy industrial, mining, manufacturing, building and authorities.
Flour hopes to unload the 2 companies in early 2020. Different plans embrace realigning and shutting regional places of work, which it says will save $100 million a yr.