Fluor Corporation has sold its construction and mining equipment business Ameco South America to Stracon Group. Financial details of the deal have not been released.

Photo: Fluor

Peru-headquartered Stracon, which supplies mining and construction services across North and South America, says the acquisition will enable it to expand its geographic reach and service offerings in the mining sector.

According to the company, Ameco South America manages a fleet of approximately 1,000 specialty assets that are used by the mining sector and comes with an 鈥渦nassailable platform鈥� of relationships from which Stracon can expand its presence in Chile.

Steve Dixon, CEO, Stracon Group, said, 鈥淚 want to welcome to Stracon the 1,365 people that have all worked tirelessly to establish Ameco South Amnerica as a trusted service provider to the mining sectors of both Peru and Chile.

鈥淭he Acquisition will add both scope and scale to Stracon鈥檚 operations, increase revenues by approximately 25%, add new service lines and geographies, and be immediately accretive to earnings.

鈥淭he Acquisition will not only strengthen our ability to bid on major projects in the region, but also further diversify our revenue streams.鈥�

Following the acquisition, Fluor has now completed its plans to , which it announced in 2019.

Since then, the company has sold the Ameco business in North America, as well as operations and assets in Africa, the Caribbean and Mexico to allow it to focus on its 鈥渃ore business and capital priorities.鈥�