Fluor Unit Buys Bulk of Mexican Company

A Fluor Corp. construction equipment company has acquired 64.6% of Mexican construction equipment company Maquinaria Panamericana SA for an undisclosed price.

The Fluor unit, American Equipment Co. of Greenville, S.C., said the purchase is part of a broader drive to expand in Mexico, one of 13 countries where the equipment rental and sales company does business. “It is our intent to increase market participation within Mexico through geographic expansion south of Guadalajara,” said Charles Snyder, president of American Equipment.

Maquinaria Panamericana sells, rents and services several makers of construction machinery in Mexico, including Terex Corp. and Ingersoll-Rand Co. The remaining shares of the company are owned by Grupo ICA, one of Mexico’s largest engineering and construction companies.