Following news from Fluor Corp. yesterday about the divestiture of select business and the intent to sell some real estate holdings, there was speculation about the future of the company’s Greenville office.
Fluor intends to stay in Greenville, but it’s possible the company could move from its existing campus, a company spokesperson said in a statement to the Upstate Business Journal.
“Fluor is considering the possibility of selling its Greenville campus and relocating to a new address,” the statement said. “While our office physical address could change, Fluor remains committed to having an execution presence in Greenville, South Carolina.”
Possible transactions for the company’s worldwide real estate holdings could include selling, selling and leasing back property or a new lease arrangement, and will be determined by the specific business and location.
“Fluor remains a strong and resilient company,” the statement said, and is responding “positively” to changing market conditions as has been the case throughout the company’s history.
Refocused direction & company leadership
After conducting a strategic review, Fluor announced yesterday its decision to sell the construction equipment rental company (AMECO), divest its government business and monetize surplus real estate. The actions should produce in excess of $1 billion, according to the company.
The moves also ensure Fluor can refocus its business on engineering, construction and maintenance services in core markets.
The company also announced yesterday that Peter Fluor, the company’s current lead independent director, will retire from the board in April 2020. Fluor will also step down as the chair of the organization and compensation committee.
In a statement, Fluor said the timing for his retirement is right because key leadership is in place in the form of Alan Boeckmann, executive chairman, and Carlos Hernandez, CEO, to lead the company and “restore investor confidence.”
“Peter understood well the family spirit of the founder, John Simon Fluor – that the company’s primary assets are its phenomenal people – and he lives and breathes that spirit every single day,” Boeckmann said.
Fluor has had a presence in South Carolina for 85 of its 107 years in operation.