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Flour to Issue New Shares Pending Shareholder Approval of Spinoff

ORANGE, CA-Fluor Corp., the world's largest engineering firm, is separating into two publicly traded entities.

By Joel Cone | Updated on November 28, 2000

ALISO VIEJO, CA-The New York Stock Exchange released details Tuesday regarding the trading of new shares of Fluor Corp., as a result of the company’s impending spinoff of its coal production and related operations.

Fluor, one of the world’s largest international engineering, procurement, construction, maintenance, operations and consulting companies, announced last week that, subject to shareholder approval on Nov. 30, the company will separate into two publicly traded entities.

It’s coal production subsidiary, A.T. Massey Coal, will be renamed Massey Energy Company, and existing Fluor shares will continue to be traded temporarily under the new “MEE WI” symbol on the NYSE until shareholders approve. Then the shares will be traded as “MEE”. Shares representing the remainder of Fluor’s operations will be temporarily traded under the new “FLR WI” symbol on the exchange beginning Dec. 1.Assuming shareholder approval, shares of the “new” Fluor will be deliverable on December 21 and listed on the exchange as “FLR”.

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