Fluor 2007 Annual Report Download - page 13

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INDUSTRIAL & INFRASTRUCTURE
The Strength Of Diversification
From emerging economies to global market
leaders, Fluor’s Industrial & Infrastructure group
supports the essential elements of progress,
including transportation, mining, life sciences,
telecommunications, manufacturing and commercial
and institutional. As we projected in our last
annual report, 2007 was a robust year for this
highly diversified segment. Commodity markets
boomed, driving substantial new awards in mining.
Infrastructure investment remained strong, both
domestically and globally. At the same time,
continuing demand in biologics and consumer
products drove new awards in life sciences
and manufacturing. Revenue for Industrial &
Infrastructure was on par with 2006, but in 2007
profits rose 32 percent year over year, reflecting good
performance across the segment.
STEADY SUCCESS IN INFRASTRUCTURE
We continue to make progress on two landmark
transportation projects on opposite coasts in the
United States — the San Francisco-Oakland Bay
Bridge and the World Trade Center Transportation
Hub. Upon completion, the $1.4 billion east
Fluor’s design-build services were engaged to complete State Highway 130,
a new-build, 49-mile toll road through central Texas. (Photo courtesy
of Beacon Aviation, Inc.)
1010 Industrial & Infrastructure Fluor Corporation 2007 Annual Report
span of the bridge will carry five lanes of traffic
each way, while in New York City the landmark
Santiago Calatrava-designed transportation hub
will connect pedestrians to various services
including subways and ferries via a network of
over 3,000 feet of passageways.
Over the past year, we won a number of new
infrastructure contracts and moved forward with
pending opportunities that represent the global
breadth of our business. In Abu Dhabi, we were
awarded project management services contracts
for the multi-billion dollar Al-Falah Community
Development and a new hospital complex to
be operated by Cleveland Clinic. In Germany,
we received the first public-private partnership
contract in that country for major improvements
to the Autobahn. In the United States, we booked
a high-occupancy vehicle toll lanes project for the
Virginia Department of Transportation designed
to ease congestion along Interstate 495. In the
United Kingdom, we passed the Highways Agency’s
new-build completion audit on England’s National
Roadway Telecommunications Service project,
which involved replacing the aging telecom
network with state-of-the-art technology along
3,000 kilometers of motorways. We also received
offshore and onshore permits for the Greater
Gabbard Wind Farm, a 500-megawatt wind farm
off the coast of England, and secured a deal
for 140 turbines for the project — the largest
agreement for offshore wind turbines to date.
NEW AWARDS IN MINING
In 2007, our mining and metals business
won a contract for engineering, procurement
and construction management (EPCM) for the