Last fall, as part of a strategic review process, Fluor leaders announced that they were initiating plans to sell AMECO and the firm’s government business for a total of about $1 billion. CEO Carlos Hernandez said at that time that the divestment would allow the company to refocus on its core strengths.
But as they worked through the fourth quarter and realized some of the early benefits of the restructuring plan, company leaders said they gained confidence in the government segment’s “solid liquidity position and viable options for generating cash flow” such that they no longer deemed it advisable to proceed with the sale, according to a press statement.
