ALISO VIEJO, Calif. - Fluor officials announced the possibility of divesting the dealership portions of Greenville, S.C.-based Ameco, according to wire-service reports.
The possible divestiture likely would include the Atlanta-based Stith Equipment, Riverside, Calif.-based SMA Equipment and Roanoke, Va.-based J.W. Burress Equipment divisions. Ameco and Fluor officials said they will announce strategic details in the coming weeks.
Fluor also plans to spin off its Massey Coal division this year.
In other Ameco news, the company was awarded a contract to provide construction equipment rentals, maintenance and related site services to the downstream component of the Athabasca Oil Sands project.
The project, a joint venture of Shell Canada, Chevron Canada Resources and Western Oil Sands, will produce 155,000 barrels of synthetic crude oil per day from the oil sands of northern Alberta. Construction on the project began in late 1999, with production planned for late 2002.
The US$20.8 million contract will run for the duration of the downstream construction and calls for Ameco to supply equipment including about 125 hydraulic and crawler cranes, ranging from 8 to 300 tons. The construction will take place near Fort Saskatchewan, Alberta, about 50 miles west of Edmonton.
Ameco is No. 9 on the RER 100, based on 1999 North American rental volume of $167 million. It has 53 locations in North America in addition to facilities in South America, Australia and Asia.
