Fluor buys Dutch power plant builder for $755m

Fluor Corporation has announced a deal to purchase Dutch engineering and construction firm Stork from its private equity owner Arle Capital, for $755m.

Stork's main business is in modifying and maintaining large gas, and power plants.
Fluor sign
Reuters reports that the deal offers around seven times Storks' annual earnings before interest, taxes, depreciation and amortization (EBITDA) of 100 million euros ($109 million), the companies said.

Fluor said the acquisition would combine well with its own operations in the same industry and give it access to Stork's customer base , which spans the globe but is most focused in Europe.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...