IRVINE — Hoping to cash in on closer political and economic ties with Mexico, Fluor Corp. said Thursday that it has agreed to form a joint venture with Mexico's largest engineering and construction company.
"We obviously view the Mexican market as an excellent place to move into at this time," Fluor spokeswoman Deborah Land said. "We are positioning ourselves for the future."
Land said that Fluor Daniel, a unit of the Irvine-based international construction and engineering company, has agreed to form the joint venture with ICA Industrial, a wholly owned subsidiary of Empras ICA.
Terms of the tentative agreement, to be completed by early next year, were not immediately available, Land said. Also to be decided, she said, is how much Fluor Daniel will invest in the joint venture, and whether it will have a 50% stake in the new company, yet to be named.