Heavy Equipment Unit Is Sold by Fluor

Fluor Corp. said it sold its J.W. Burress heavy equipment dealership to a group of Burress senior managers for an undisclosed price.

Burress, a 170-employee operation based in Roanoke, Va., was the last of five dealerships that Fluor has divested since 2001.

Aliso Viejo-based Fluor took an after-tax charge of $13.5 million in the first quarter to reflect the dealership’s deteriorating value in a depressed market. Fluor said the sale would have no material effect on its earnings.

Fluor rose 12 cents to $34.80 on the New York Stock Exchange.

-- Elizabeth Douglass