Fluor Offloads Its Zhuhai Fabrication Yard to COOEC in Major Strategic Move

2025-12-26 04:02:46

Abstract generation in progress

Fluor Corp. (FLR) has finalized an agreement to sell off its stake in a major fabrication facility located in China’s Guangdong province to Offshore Oil Engineering Co., Ltd. (COOEC) in a transaction valued at $122 million at prevailing exchange rates. The handover is slated for completion within the coming months as part of the company’s strategic portfolio restructuring.

Once the deal closes, COOEC will take over complete operational control of the Zhuhai-based fabrication yard. The asset transfer represents a significant consolidation of offshore engineering resources in the region, with the facility expected to continue serving both COOEC’s existing operations and remaining available for future Fluor project requirements and expansion opportunities.

The transaction underscores the evolving landscape of offshore equipment manufacturing in southern China, with major players consolidating their production footprints. The arrangement ensures continuity of fabrication support for ongoing and prospective initiatives while streamlining Fluor’s asset base.

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