The top executive of Aliso Viejo-based Fluor Corp. said Wednesday he expects the pipeline of new business for 2005 to come in on par with a year earlier, the engineering services company’s “best year ever.”
“We see a very strong new order trend,” Fluor Chief Executive Alan Boeckmann told Reuters on the sidelines of the World Economic Forum in Davos, Switzerland. “2005 could be the same range as in 2004.”
Strong spending by oil and gas companies was set to continue for “several years,” Boeckmann said.
Shares of Fluor hit a 52-week intraday high on Wednesday. The company counts a market value of $7.5 billion.
Fluor’s backlog at the end of 2004 was $14.8 billion, up 39% from a year earlier.
The company is in the process of moving its headquarters from Orange County to Texas and plans to keep a large engineering operation in Aliso Viejo.
