Fluor Corp. (FLR), ABB Enter EPC Substation-Focused Alliance

October 4, 2016 7:08 AM EDT

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Fluor Corporation (NYSE: FLR) and ABB have formed a global strategic alliance for the execution of large turnkey engineering, procurement, construction (EPC) electrical substation projects. By combining ABB’s world leading technology and its market leadership position in power transmission and distribution with Fluor’s expertise and experience in delivering large EPC projects, the alliance will help to meet the evolving needs of power grids across the world for safe, reliable and state-of-the-art electrical substations.

“Fluor’s new global strategic alliance with ABB targeting the substation market will bring unique synergies to our Power clients,” said David Seaton, chairman and CEO of Fluor. “This approach exemplifies our focus on addressing client needs with our unique integrated solutions offering.”

“We are proud to partner with Fluor to tap the vast opportunities of the ongoing energy revolution and the related power infrastructure investments. Together, we will grow our businesses by complementing each other’s strengths for unique customer services for large substation projects,” said ABB CEO Ulrich Spiesshofer. “Strategic alliances like this are a core pillar of our Next Level strategy and help us to drive growth while mitigating risk.”

Substations are key elements in power grid infrastructure that facilitate the efficient transmission and distribution of electricity. They control and protect power flows, connect power stations to the grid and link transmission and distribution networks as well as end consumers.

ABB is a world leader in air-insulated, gas-insulated and hybrid substations with voltage levels up to 1,200 kV. These substations facilitate the efficient and reliable transmission and distribution of electricity with minimum environmental impact, serving utility, industry and commercial customers as well as sectors like railways, urban transportation and renewables.

“This global alliance with Fluor reinforces our strategic focus on developing new business models as part of the ongoing transformation of our business for enhanced customer value,” said Claudio Facchin, ABB president, Power Grids division.

Both parties will work together to formalize the partnership before year end.

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