Huntsville, AL - August 7, 2001
Fluor, Bechtel Take Equity Positions In Essi, Will Offer E-business Data Warehousing
Fluor Corporation (NYSE: FLR) and Bechtel Enterprises Holdings, Inc. announced today that they have established equity positions in ESSI LLC, a leading provider of data warehousing and application integration solutions.The investment agreements call for Fluor and Bechtel to provide financial and business resources to expand ESSI’s product and service offerings, while maintaining ESSI’s neutral and independent market position. The amounts of the investments were not disclosed. “With the support of these two industry giants, we can forge an even broader and more responsive solution for the rapidly evolving needs of the process industry,” said ESSI Chief Executive Officer Rob Whitesell. “Their positions as the leaders in the global engineering, procurement and construction (EPC) market, and their implicit testimonials to ESSI’s approach to the market, will undoubtedly lead to greater and greater benefits to both their customers and ours.”
ESSI’s eWarehouse suite of products and services integrates data and information from various software applications into a single, shared information resource. eWarehouse is a flexible, scalable warehouse for engineering and asset data that will integrate easily into an engineering environment and work well with document management and maintenance management systems. It is designed to manage, consolidate and present a full range of asset information from engineering specifications found on data sheets to business and financial information such as reliability and lifecycle cost data.
“Time and again our customers have requested a proven solution for a consistent data flow and repository of asset information,” said Kirk Grimes, Fluor's Group President for Energy and Chemicals. “After considering many alternatives, we believe ESSI can provide that solution across the range of industries our customers represent.”
Added Bechtel Senior Vice President Bill Dudley, head of the firm’s global petroleum and chemical business: “Using the commercially proven eWarehouse product, our customers will be able to better collect and utilize critical data for the full lifecycle of their assets.”
ESSI was founded in 1997 in Huntsville, Alabama, and has developed a leading set of technology and service solutions around its eWarehouse suite of product and service offerings. ESSI’s customers include Chevron, ExxonMobil, Texaco, and Kellogg, Brown, & Root.
Bechtel Enterprises is the development, financing, and ownership affiliate of Bechtel Group Inc., a premier global engineer-constructor with 2000 revenues of more than $14 billion. Bechtel provides services to the power, petroleum & chemicals, telecommunications, mining & metals, civil infrastructure, pipelines, and government sectors.
With 2000 revenues of $10 billion, Fluor Corporation provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance, project management, and business services. Additional information about Fluor is available at www.fluor.com