Cavendish Fluor Partnership Selected as Preferred Bidder for Magnox and RSRL Competition

  Cavendish Fluor Partnership Selected as Preferred Bidder for Magnox and RSRL   Competition  Business Wire  IRVING, Texas -- March 31, 2014  Fluor Corporation (NYSE: FLR) announced today that the United Kingdom Nuclear Decommissioning Authority (NDA) selected the Cavendish Fluor Partnership as the preferred bidder in the competition to take ownership of Magnox Ltd and Research Sites Restoration Limited (RSRL), the Site License Companies that manage and operate 12 UK nuclear sites. It is anticipated that this contract will provide savings in excess of $1.6 billion in the decommissioning program for the 12 nuclear sites.  “We are pleased our joint venture with Cavendish Nuclear has been selected as the preferred bidder for this prominent nuclear contract,” said Bruce Stanski, president of Fluor’s Government Group. “We look forward to bringing our expertise gained from decades of managing and operating nuclear decommissioning sites.”  “The selection of Cavendish Fluor Partnership as the preferred bidder is a significant step in our drive to attract world-class management and innovation to our sites,” said John Clarke, NDA Chief Executive. “The Cavendish Fluor Partnership brings a successful track record and extensive nuclear experience that will bring enormous benefits to the decommissioning and clean-up program.”  Cavendish Fluor Partnership will begin a five-month contract transition phase following a 10-day standstill period. Once transition is complete, Cavendish Fluor Partnership will become the new Parent Body Organization and take ownership of Magnox Ltd and RSRL.  “Being selected as preferred bidder is a fantastic achievement,” said Roger Hardy, Cavendish Nuclear’s Managing Director. “The Cavendish Fluor Partnership brings together outstanding international decommissioning, operational and site management expertise and we look forward to working with the Magnox and RSRL teams to deliver the sites’ program safely and cost effectively.”  Magnox Ltd is responsible for decommissioning 10 Magnox reactor sites, located in England, Scotland and Wales, which were the first generation of civil nuclear power plants in the UK built during the 1950s and 60s. RSRL is responsible for decommissioning two pioneering nuclear research centers at Harwell and Winfrith.  For more information on the contract competition, please visit: http://www.nda.gov.uk/contracts/competition/magnox-rsrl.cfm  Cavendish Fluor Partnership is a joint venture between Cavendish Nuclear, a wholly-owned subsidiary of Babcock International Group plc, and Fluor.  About Cavendish Nuclear  Cavendish Nuclear is the UK's largest specialist nuclear support services organization. Cavendish Nuclear brings together the rich heritage of the UK’s capabilities in nuclear energy to offer unrivalled experience and expertise across the life cycle of nuclear power plant. This expertise, combined with our experience as a nuclear site licensee and operator, enables Cavendish Nuclear to provide safe, effective solutions for the entire nuclear lifecycle, from design and build, through operation and maintenance, to decommissioning, waste management and remediation.  Cavendish Nuclear is a wholly-owned subsidiary of Babcock International Group plc. (www.cavendishnuclear.com)  About Fluor Corporation  Fluor Corporation (NYSE: FLR) is a global engineering and construction firm that designs and builds some of the world's most complex projects. The company creates and delivers innovative solutions for its clients in engineering, procurement, fabrication, construction, maintenance and project management on a global basis. For more than a century, Fluor has served clients in the energy, chemicals, government, industrial, infrastructure, mining and power market sectors. Headquartered in Irving, Texas, Fluor ranks 110 on the FORTUNE 500 list. With more than 40,000 employees worldwide, the company's revenue for 2013 was $27.4 billion. Visit Fluor at www.fluor.com and follow on Twitter @FluorCorp.  Contact:  Fluor Corporation Media Relations Brian Mershon, 469-398-7621 or Eric Krantz, 281-263-6030 or Investor Relations Ken Lockwood, 469-398-7220 or Jason Landkamer, 469-398-7222