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HERCULES INC. RELEASES ANNOUNCEMENT CONCERNING JOINT ENTERPRISE WITH FLUOR DANIEL

 HERCULES INC. RELEASES ANNOUNCEMENT CONCERNING
 JOINT ENTERPRISE WITH FLUOR DANIEL
 WILMINGTON, Del., June 22 /PRNewswire/ -- Hercules Incorporated (NYSE: HPC) and Fluor Corporation (NYSE: FLR) today announced the signing of a Memorandum of Understanding for the formation of a joint enterprise that will be pursued between Hercules Aerospace Company and Fluor Daniel, the engineering construction unit of Fluor.
 The companies will seek to develop business providing services to the U.S. government and foreign governments for the disposal of treaty banned, obsolete, or defective nonnuclear explosives, chemical and conventional munitions, and rocket motors in a safe, economic and environmentally sound manner and to restore sites contaminated with such energetic materials.
 Thomas L. Gossage, chairman and chief executive officer of Hercules, in announcing the alliance, said, "The business created by the worldwide movement toward demilitarization and environmental restoration of sites contaminated with energetic materials represents a multibillion-dollar growth opportunity extending well into the next century. It is an attractive business uniquely suited to the capabilities of our two companies and one in which we expect to develop a significant long-term position."
 The Memorandum of Understanding provides the flexibility for the two companies to form various business structures to pursue opportunities. The stated purpose of the joint enterprise will be to manage and operate the business of Fluor Daniel and Hercules in the field cited. The agreement is nonexclusive and will be applied on a project-by-project basis.
 Hercules traces its experience with energetic materials back to the founding of the company 80 years ago, when it was formed as the result of the breakup of the Du Pont explosives monopoly. It expanded from explosives to the production of propellants for conventional munitions, tactical and strategic solid-rocket motors and solid boosters for space vehicles. Hercules has also had more than 50 years experience in building and operating ordnance plants owned by the U.S. government. In the course of handling these hazardous materials, the company has developed extensive experience in hazards analysis and in the design of processes and facilities for safe processing and disposal of hazardous energetic materials. In addition, Hercules is a major worldwide chemical company with extensive experience in the safe and environmentally acceptable handling of numerous hazardous materials and processes.
 Fluor Daniel performs hazardous waste remediation services for government and private industry clients and has provided design and construction services for hazardous waste handling and processing facilities for the Department of Energy since 1950.
 Fluor Daniel Inc., the principal subsidiary of Fluor Corporation, is an international engineering, construction, maintenance and technical services company with more than 50 offices worldwide.
 /delval/
 -0- 6/22/92
 /CONTACT: Robert B. Hessler of Hercules, 302-594-6920/
 (HPC FLR) CO: Hercules Incorporated; Fluor Corporation; Hercules Aerospace
 Company; Fluor Daniel ST: Delaware IN: ARO SU: JVN


CC-MP -- PH027 -- 2451 06/22/92 13:57 EDT
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Publication:PR Newswire
Date:Jun 22, 1992
Words:468
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