Fluor Receives Five-Year Contract Extension for Naval Nuclear Propulsion Program
October 09 2023 - 4:04PM
Business Wire
Fluor Corporation (NYSE: FLR) announced today that its U.S.
Department of Energy’s National Nuclear Security Administration
(NNSA) contract with Fluor Marine Propulsion, LLC, a Fluor-owned
special purpose entity, was extended for five years through 2028.
Originally awarded in 2018, the contract had a five-year base
period of performance, with a five-year option. Consistent with the
original contract, Fluor will recognize all fees earned with this
new extension as equity income.
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Fluor has received a five-year contract
extension for the Naval Nuclear Propulsion Program. (Photo:
Business Wire)
The contract supports the Naval Nuclear Propulsion Program that
is jointly part of the Department of Energy’s NNSA and the
Department of the Navy. The scope of the contract includes the
management and operation of the Naval Nuclear Laboratory (NNL) with
primary facilities in New York, Pennsylvania and Idaho.
“Fluor has supported our nation’s security since 1944,” said Tom
D’Agostino, group president of Fluor’s Mission Solutions business
segment. “We are proud that the U.S. government continues to place
its confidence in us to ensure that the nuclear Navy remains
superior and is able to carry out its vital missions anywhere in
the world. We look forward to supporting the Naval Nuclear
Laboratory as it continues to deliver excellence to the men and
women of the Navy who serve our country.”
For more than 70 years, NNL has developed advanced naval nuclear
propulsion technology, provided technical support and trained
world-class nuclear operators to ensure the safe and reliable
operation of our nation’s submarine and aircraft carrier fleets.
The NNL is solely dedicated to the Naval Nuclear Propulsion Program
and is comprised of nearly 8,000 engineers, scientists, technicians
and support personnel.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is building a better world by
applying world-class expertise to solve its clients’ greatest
challenges. Fluor’s 40,000 employees provide professional and
technical solutions that deliver safe, well-executed,
capital-efficient projects to clients around the world. Fluor had
revenue of $13.7 billion in 2022 and is ranked 303 among the
Fortune 500 companies. With headquarters in Irving, Texas, Fluor
has provided engineering, procurement and construction services for
more than 110 years. For more information, please visit
www.fluor.com or follow Fluor on Twitter, LinkedIn, Facebook and
YouTube.
#Mission Solutions
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Brett Turner Media Relations 864.281.6976
Jason Landkamer Investor Relations 469.398.7222
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