Fluor to Relocate Corporate Headquarters

Fluor Corporation is to relocate its corporate headquarters from Southern California to the Dallas/Ft. Worth metropolitan area. The relocation is expected to be complete by early 2006.

"The relocation will have no effect on the company's Southern California engineering operations located in Aliso Viejo and Long Beach," said Alan L. Boeckmann, Chairman and Chief Executive Officer. "Together these operations employ 900 people and have grown by six percent in just the last year." He said the company's philanthropic foundation will also remain in Southern California.

"The announcement reflects Fluor's strategy to improve operational efficiency and position the company to more effectively serve our global client base," said Boeckmann, "While we highly value our West Coast clients, most of our North American customers are clustered in Texas and on the East Coast, which can be more efficiently accessed from the central time zone. In addition, the Dallas/Ft. Worth Airport provides optimal travel connections to customers in all other global locations." The company currently has 490 headquarters employees in California. Of these, 210 people will be reassigned or relocated locally. Approximately 80 employees will be reassigned to other Fluor locations. About 100 people will be relocated to the company's new headquarters in Texas. It is anticipated that as many as 100 employees will most likely leave the company. The company expects to hire about 70 employees at its new location. A final decision on location within the Dallas/Ft. Worth metropolitan area will be made in the next few weeks.

Boeckmann said announcement of the relocation was being made now to give those who are laid-off the greatest amount of time possible to seek a position outside the company, or locate a new opportunity somewhere within Fluor.

The relocation follows a series of recent moves by Fluor to enhance operating efficiency and become more customer focused. Over the past two years, the company has relocated several of its most senior business unit executives to locations much closer to the customers they serve.

Boeckmann said the company selected the Dallas/Ft. Worth metropolitan area not only because of its accessibility to global clients, but also because of its proximity to East Coast financial centers and Washington, D.C.

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Posted 13/05/05

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