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MOSCOW (MRC) -- Fluor (Irving, Texas)
has recently announced an organizational revamp that “better aligns its
business with identified growth markets and company strategy” after conducting a
strategic review, reported Chemweek with
reference to the company's statement.
The company is initiating plans to
sell its subsidiary Stork (Utrecht, Netherlands) as part of the revamp, it
says.
Starting in the first quarter of 2021, Fluor will conduct its
operations in three business segments - Energy Solutions, Urban Solutions, and
Mission Solutions. The energy solutions business will be focused on energy
transition, chemicals, and traditional oil and gas opportunities, according to
Fluor.
“As a result of our strategic review, we have determined that
maintenance services no longer fits within Fluor’s core service portfolio.
Therefore, the company is initiating plans to sell Stork,” it says. Fluor
acquired Stork in 2015 for $755 million. Stork is a provider of maintenance,
modification, and asset integrity services for large industrial facilities in
the chemicals, petrochemicals, oil and gas, industrial, and power
markets.
Fluor’s urban solutions business will pursue opportunities in
mining, metals, advanced technologies, manufacturing, life sciences, and
infrastructure, while the mission solutions business will be focused primarily
on delivering solutions to federal agencies across the US government and to
select international opportunities. Fluor has also established two functional
organizations for project execution and corporate development and
sustainability.
As MRC wrote before, in
early December 2019, Fluor bagged PMC contract to PKN Orlen to expand ethylene
capacity in Plock.
Ethylene is the mainfeedstock for the production of
polyethylene (PE).
According to MRC's ScanPlast report,
Russia's estimated PE consumption totalled 2,220,640 tonnes in 2020, up by 2%
year on year. Only shipments of low density polyethylene (LDPE) and high density
polyethylene (HDPE) increased. |
