EXHIBIT 99.2
Fluor Corporation's Spin Off Completed
ALISO VIEJO, Calif., Nov. 30 /PRNewswire/ -- Fluor Corporation (NYSE: FLR) today
announced that its shareholders and board of directors have declared the special
dividend distribution which separates Fluor into two publicly traded companies.
The spin off transaction was approved by Fluor's shareholders at a special
meeting today in Aliso Viejo. As a result of the spin off, shareholders of
record of existing Fluor, at the close of business on the distribution record
date of Nov. 30, will receive one share of "new" Fluor for each share of
existing Fluor stock and will retain their shares in existing Fluor, which is
being renamed Massey Energy Company. The "new" Fluor shares will be deliverable
Dec. 21.
Massey Energy Company, which will trade on the New York Stock Exchange under the
symbol "MEE," will continue to conduct the coal business and related operations
of A.T. Massey Coal. For its fiscal year ended Oct. 31, 2000, these operations
had revenues of $1.09 billion and total assets of $2.1 billion.
The "new" Fluor shares, which will trade on the New York Stock Exchange under
the symbol "FLR," will represent all of Fluor's existing business except the
coal business and related operations of A.T. Massey Coal. The shares of "new"
Fluor will trade on a "when, as, and if issued" basis under the symbol "FLR WI,"
until December 22, when they will trade under "FLR" on a "regular way delivery"
basis.
With fiscal 2000 revenues from continuing operations of $10 billion, Fluor
Corporation provides services on a global basis in the fields of engineering,
procurement, construction, maintenance, operations, project management, and
business services.
The company, in a news release on Nov. 28, detailed the New York Stock
Exchange's plans for trading in the related securities between Dec. 1 and Dec.
21.
For more information please contact Keith Karpe, Media Relations, 949-349-7661,
or Lila Churney, Investor Relations, 949-349-5375, fax, 949-349-5375, both of
Fluor Corporation.
SOURCE Fluor Corporation
CONTACT: Keith Karpe, Media Relations, 949-349-7661, or Lila Churney, Investor
Relations, 949-349-3909, fax, 949-349-5375, both of Fluor Corporation
