Engineering and construction giant Fluor has agreed to acquire the Netherlands-based maintenance, modification and asset integrity services firm Stork for $755 million. Fluor said in a statement it would begin combining its operations and maintenance organization with Stork upon closing of the acquisition. The combined group, to be led by Stork CEO Arnold Steenbakker, will have annual revenues of $2.3 billion.
Stork serves oil and gas, chemicals, petrochemicals, industrial and power market customers in Europe, the Middle East, Asia and the Americas. The transaction is expected to close in the first half of 2016.
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