Fluor

One of the world's largest engineering and construction firms.

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Headquarters:
6700 Las Colinas Blvd.
Irving, TX 75039
Employees: 38,000
CEO: David Seaton
Stock Symbol: FLR

Website: http://www.fluor.com

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Fluor Corporation is one of the world's largest, publicly owned engineering, procurement, construction, and maintenance services organizations.

Fluor serves clients in a wide variety of industries worldwide, including oil and gas, chemicals and petrochemicals, commercial and institutional, government services, life sciences, manufacturing, microelectronics, mining, power, telecommunications and transportation.

Consistently rated as one of the world's safest contractors, Fluor's primary objective is to develop, execute, and maintain projects on schedule, within budget, and with excellence.

The company has worked on projects including the San Francisco-Oakland Bay Bridge completed in 2013 and the new Tappan Zee Bridge north of New York City that will be finished in 2018.

The company has 60 offices in six different continents.

In 2013, Fluor reported revenues of $27.35 billion and net income of $667.7 million.

Full year new awards were $25.1 billion, comprised of $12.9 billion in Oil & Gas, $6.6 billion in Industrial & Infrastructure, $4.1 billion in Government and $1.5 billion in Power. Consolidated backlog at year-end was $34.9 billion, which compares with $38.2 billion a year ago, reflecting a continued decline in mining and metals awards and the fourth quarter cancellation of a large copper/gold project in South America.

History

Fluor began as Fluor Brothers Construction Company and quickly built its reputation for applying innovative methods and performing precise engineering and construction work within the emerging petroleum industry. During the 1920s, Fluor developed expertise in the oil and gas field in process construction. Incorporated in 1924, the company began executing more complex engineering and construction projects, which continue today to be a cornerstone of Fluor's expertise.

During the 1930s, the company won contracts in Texas, Indiana, Missouri, and Illinois that helped to establish Fluor as a major competitor in the refinery construction field. The 1940's war effort brought the company many opportunities for expansion. Even as its domestic workload grew, the company secured contracts for refineries and natural gas plants in Canada and Venezuela. Fluor's solid reputation as a refinery engineering firm led to the company's first Middle East assignment, in Saudi Arabia.

In the early 1950s, Fluor began working with the U.S. Government executing contracts in the nuclear field. The company also contracted for U.S. Air Force work at Dhahran Air Base, Saudi Arabia, and for refineries in Puerto Rico. More projects followed, and Fluor designed and built plants for the petrochemical industry in Australia, Canada, Scotland, and South Africa. By the end of the decade, Fluor had established offices worldwide, and was a publicly traded company on the New York Stock Exchange. The company's reputation helped to win many energy-producing projects.

In the 1960s, Fluor continued its international expansion with the construction of the first refinery in South Korea. The company also diversified into offshore drilling and mining.

By the 1970s, the company's activities focused heavily on the international natural resource industries. Fluor set up subsidiaries and management organizations in Alaska, Europe, Indonesia, Saudi Arabia, and South Africa. It was during the 1970s, that Fluor completed work on the Alaskan pipeline and constructed the world's largest offshore facility. In 1977, the company acquired Daniel International Corporation, a leader in establishing the design-build, single-responsibility concept that allowed the company to deliver projects months ahead of schedule.

Benefits

Here are benefits for salaried employees:

Health & Dental Coverage
You are eligible for health and dental coverage on your first day of employment.
The medical plan offers three health care options and, in certain California locations, a health maintenance organization plan (HMO) through Kaiser Permanente is also available. You select the option that's right for you and your family.
A company subsidized dental plan is available through United Dental. Two options will provide financial help for preventive, basic and major dental care. Participants can use private practice dentists at PPO and non-PPO rates.
Life & Accidental Coverage
The company provides one times your base annual salary up to $50,000 of noncontributory life insurance (company paid) coverage.
For more protection, you can buy from a range of life insurance (contributory) options from group universal life (GUL) and accidental death and dismemberment (AD&D) coverage for you and your family.
The company provides additional accident insurance for eligible business travel.
Retirement & Savings Plans
The company's retirement and savings program includes several plans that provide competitive benefits and cost-effective ways to save. The Defined Retirement Plan is fully paid by the company, and employees are automatically enrolled after one year of service. Annual company contribution credits to the plan are based on age and service.
The Performance Plan is fully company funded and encourages you to engage in performance that contributes to the success of the company's financial performance. It enables you to share in the rewards of that success. Employees with one year of service are automatically enrolled.
The Salaried Employees' Savings Investment Plan (SIP) and its 401(k) provision can help you build long-term financial security. Employees can join the SIP immediately upon being hired and are eligible for company matching contributions after one year of service. Participants manage their accounts in the plan by selecting among different contribution levels and investment funds with varying objectives. Loans are offered through the SIP.
Section 415 Plan
This part of the Federal Internal Revenue Service Code limits the amount you and the company can contribute to your retirement and savings plans. In general, total employee and company contributions may not exceed 100 percent of your gross wages, or $40,000, for certain types of savings and retirement benefits.
Time Off With Pay
TOWP is a flexible program that clearly ranks at the top of innovative paid-time-off systems. It gives you the freedom to choose how to use most of your paid time off. TOWP is accrued according to years of service.
Year of Service -- TOWP Credits Earned
Up to 4 years (1-48 months)
184 hours a year (3.54 hours per week)
4 years - 19 years (49-228 months)
240 hours a year (4.62 hours per week)
20 years or more (229 months or more)
280 hours a year (5.39 hours per week)
TOWP is accrued on a weekly basis and you choose how to spend it for vacations, holidays, personal time, illness, doctor, or other, appointments. Unused TOWP can be accrued up to 2,080 hours. You can cash out accrued hours once a year.
Tax Savings Account
Participation lets you use tax-free dollars to pay certain out-of-pocket expenses. Two accounts are offered: the Medical Expense Tax Savings Account; and the Child/Elder Care Tax Savings Account. You may put up to $5,000 into each plan each year. Reductions are made every pay period.
Disability Coverage
Several plans are available to meet your short-term disability insurance needs. The company pays for long-term disability insurance.
EAP (Employee & Family Assistance Program)
Counseling, assessment and referral services are available immediately for you and your family members, up to 3 visits free per plan year.
Education Assistance
Active, full-time salaried employees are eligible for reimbursement for tuition, registration, non-resident fees, laboratory fees, and textbook fees upon satisfactory completion of courses related to current, or future, positions. Course requests must be approved in advance of enrollment by management.

Updated February 22, 2014