Fluor Corporation (FLR) announced that Fluor-ManTech Logistics Solutions, LLC. (:FMLS), a partnership of Fluor with technical services firm ManTech, has won the U.S. Army’s Enhanced Army Global Logistics Enterprise (:EAGLE) contract. The contract has been awarded by the U.S. Army Sustainment Command. Financial terms of the deal were not revealed.
The company entered into a Basic Ordering Agreement in which FMLS will be able to compete for future task order opportunities on the EAGLE program. Through this progam the Army secures logistic services. Expected value of this program over a period of five years is about $23 million.
Fluor has been successfully delivering services for U.S. army for a long time. FMLS also has sound expertise to deliver maintenance, logistics and supply services for military contracts.
Presently, Fluor is working on U.S. military forward operating bases in the northern region of Afghanistan under the LOGCAP IV contract with the U.S. Army Sustainment Command. The company was also awarded a contract to work in continental Africa earlier during the year.
Fluor serves a diverse set of industries worldwide, including oil and gas, chemical and petrochemicals, transportation, mining and metals, power, life sciences and manufacturing. It is also a primary service provider to the U.S. federal government. The company’s prime competitor is Jacob’s Engineering Group (JEC).
We continue to maintain a Neutral rating on Fluor for the long term. The company has a Zacks #2 Rank (Buy recommendation) over the next one-to-three months.
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