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INDUSTRY NOTES

Fluor Completes Sale of St. Joe Gold Interest

November 01, 1987

Fluor Corp. said it has completed the previously announced sale of its 90% interest in St. Joe Gold Corp. and other gold properties for $500 million in cash to a subsidiary of Dallhold Investments Pty. Ltd., an Australian holding company.

The sale of St. Joe Gold will result in a pretax gain of approximately $400 million. Cash proceeds will be used to reduce debt and for other corporate purposes.

Fluor, whose headquarters are in Irvine, is an engineering and construction company.

Separately, the Fluor Daniel unit was awarded a contract to provide construction management services and modifications at Chrysler Corp.'s assembly plant in Newark, Del. The value of the contract was not disclosed.

The project includes major revisions to the existing facilities and the addition of about 80,000 square feet to the main plant.

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