ALISO VIEJO, Calif. -- Engineering and construction giant Fluor Corporation (NYSE: FLR - News) announced that it has begun demolition work on a euro 36.5-million ($43.5-million) project for one of the world's largest producers of polyolefin plastics, Borealis. The demolition is part of a larger contract awarded to Fluor for a new production facility. The contract was booked in the fourth quarter of 2005.

Borealis - a leading provider of value, creating innovative plastics solutions with more than 40 years of experience in polyethylene and polypropylene - selected Fluor to provide engineering, procurement and construction services on a cross linkable polyethylene (XLPE) facility located in Stenungsund, Sweden. When complete in April 2007, the facility will help meet the growing demand in the cable industry for the next decade. Fluor will execute the work out of its offices in Gliwice, Poland.

The company produces high quality polyethylene and polypropylene at a rate of close to four million tons per year, and its products are converted by its customers into daily life products such as advanced food packaging, medical devices, distribution pipes, automotive parts, power cables and appliances.

Fluor Corporation (NYSE: FLR - News) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Aliso Viejo, Calif., Fluor is a FORTUNE 500 company with revenues of $9.4 billion in 2004.

Source: Fluor Corporation

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