DGAP-News: ICA Fluor Part of Joint Venture to Design and Build New Petrochemical Complex in Mexico
(firmenpresse) - Empresas ICA, S.A.B. de C.V.
04.10.2012 22:10
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MEXICO CITY, 2012-10-04 22:10 CEST (GLOBE NEWSWIRE) --
ICA Fluor, the industrial construction joint venture of Empresas ICA, S.A.B. de
C.V. (BMV:ICA) (NYSE:ICA) and Fluor Corporation (NYSE:FLR), is part of the
joint venture that was awarded a multi-billion dollar engineering, procurement
and construction contract by Braskem Idesa. The joint venture company, which
includes Odebrecht, Technip and ICA Fluor, will design and build a new
petrochemical complex Etileno XXI in the Mexican state of Veracruz. ICA will
book approximately US$275 million into backlog in the fourth quarter of 2012.
The new petrochemical complex will include a 1,050 million ton-per-year
ethylene cracker and two high density polyethylene plants. The joint venture
project team will utilize several operating centers around the world to execute
the project.
ICA Fluor was part of the team that performed front end engineering for the
offsite facilities during 2011.
ICA Fluor is the leading industrial engineering-construction company in Mexico,
dedicated to the engineering, procurement, construction and maintenance of
industrial facilities in the oil and gas, chemical, petrochemical, automotive,
power, mining, and telecommunication industries.
Empresas ICA, S.A.B. de C.V. is Mexico's largest construction and
infrastructure operations company. Founded in 1947, ICA's principal lines of
business are civil and industrial construction and engineering; infrastructure
operations, including airports, toll roads, and water systems; and
homebuilding. For more information visit www.ica.com.mx/ir.
The Empresas ICA, S.A.B. de C.V. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=10914
Fluor Corporation (NYSE:FLR) designs, builds and maintains many of the world's
most challenging and complex projects. Founded in 1912, John Simon Fluor Sr.
started the company with a modest investment of $100. Since those humble
beginnings, the company has grown into one of the largest engineering&construction companies in the world. Fluor is celebrating its 100th anniversary
during 2012. Today, through its global network of offices on six continents,
the company provides comprehensive capabilities and world-class expertise in
engineering, procurement, construction, commissioning, operations, maintenance
and project management. Headquartered in Irving, Texas, Fluor is a FORTUNE 200
company and had revenue of $23.4 billion in 2011. For more information, visit
www.fluor100.com and www.fluor.com.
Braskem Idesa, created in 2010, is a joint venture between Braskem SA (Brazil),
the largest petrochemical company in the Americas and Grupo Idesa, a leading
Mexican petrochemical company. Together they are developing the Etileno XXI
project, which focuses on the construction and operation of a petrochemical
complex to produce polyethylene in the state of Veracruz, Mexico. The project
requires an investment of $3 billion dollars and will start operating in 2015.
Visit www.braskem.com.mx
Odebrecht is a global organization founded in Brazil in 1944 as a construction
company. It grew, diversified its business areas and nowadays has been
operating in heavy construction, infrastructure, environmental engineering,
real estate development, energy, oil and gas, chemical and petrochemical
sectors, defense and technology, naval construction, bioenergy, transportation
and logistics, stakes and investments. With operations in 22 countries in four
continents, Odebrecht has products sold in 56 countries, and employees of over
50 different nationalities.
Technip is a world leader in project management, engineering and construction
for the energy industry.From the deepest Subsea oil&gas developments to the
largest and most complex Offshore and Onshore infrastructures, our 30,000
people are constantly offering the best solutions and most innovative
technologies to meet the world's energy challenges. Present in 48 countries,
Technip has state-of-the-art industrial assets on all continents and operates a
fleet of specialized vessels for pipeline installation and subsea construction.
Technip shares are listed on the NYSE Euronext Paris exchange and the USA
over-the-counter (OTC) market as an American Depositary Receipt (ADR: TKPPK).
This press release may contain projections or other forward-looking statements
related to ICA that reflect ICA's current expectations or beliefs concerning
future events. Such forward-looking statements are subject to various risks and
uncertainties and may differ materially from actual results or events due to
important factors such as changes in general economic, business or political or
other conditions in Mexico, Latin America or elsewhere, changes in capital
markets in general that may affect policies or attitudes towards lending to
Mexico or Mexican companies, changes in tax and other laws affecting ICA's
businesses, increased costs, unanticipated increases in financing and other
costs or the inability to obtain additional debt or equity financing on
attractive terms and other factors set forth in ICA's most recent filing on
Form 20-F and in any filing or submission ICA has made with the SEC subsequent
to its most recent filing on Form 20-F. All forward-looking statements are
based on information available to ICA on the date hereof, and ICA assumes no
obligation to update such statements.
CONTACT: Investor Relations:
Luz Montemayor
luz.montemayor(at)ica.mx
Iga Wolska
iga.wolska(at)ica.mx
relacion.inversionistas(at)ica.mx
(5255) 5272 9991 ext.3692
Victor Bravo, CFO
victor.bravo(at)ica.mx
In the United States:
Daniel Wilson Zemi Communications,
(1212) 689 9560
dbmwilson(at)zemi.com
News Source: NASDAQ OMX
04.10.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Empresas ICA, S.A.B. de C.V.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US2924482068
WKN:
End of Announcement DGAP News-Service
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