Fluor Corp. (FLR) announced that it agreed to divest its portion of its Zhuhai fabrication yard in China's Guangdong province to Offshore Oil Engineering Co., Ltd. (COOEC). Fluor expects to receive $122 million in proceeds, based on current exchange rates, when the transaction is completed in the coming months.
Upon completion, COOEC will assume full ownership of the fabrication yard. The facility, together with COOEC's other assets, will remain available to support fabrication requirements for future Fluor projects and opportunities.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.