Fluor Completes Sale of Environmental Unit

Fluor Corp. said Friday that its Fluor Daniel operating unit has completed the previously announced sale of Fluor Daniel GTI Inc., its Massachusetts-based environmental company, to IT Group.

The firm, an environmental services company, acquired all outstanding shares of Fluor Daniel GTI for $8.25 per share in cash.

Irvine-based Fluor Corp., which owned a 52% stake in the company through its Fluor Daniel engineering and construction services unit, received $36.3 million from the transaction for its 4.4 million share. The company said the proceeds would not have a material impact on earnings.