Foster Wheeler To Delist From NASDAQ
Foster Wheeler AG announced today that it intends to voluntarily delist the registered shares of the Company, par value CHF 3 per share, from the NASDAQ Global Select Market (“NASDAQ”) and, provided that the requirements for deregistration are met, in due course, it intends to subsequently deregister the Shares under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company also intends to suspend its reporting obligations under the Exchange Act once it is eligible to do so. As previously disclosed, pursuant to the Implementation Agreement dated 13 February 2014…
Foster Wheeler to Upgrade ExxonMobil's Antwerp Refinery
Foster Wheeler AG announced today that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement, and construction (EPC) contract by ExxonMobil Petroleum & Chemical BVBA (“Esso”) for the Antwerp Northwest Europe Resid Upgrade Project – Revamp and Offsites facilities at the Esso Antwerp Refinery at Antwerp, Belgium. Foster Wheeler's contract value was not disclosed. A small initial release of work was included in the company’s first-quarter 2014 bookings. The full release of work was included in the company's second-quarter 2014 bookings.
Foster Wheelers wins Petron's Bataan Refinery Contract
Foster Wheeler AG announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by Petron Corporation to provide operator training, commissioning, and start-up assistance services for the new delayed coking unit at Petron’s Bataan Refinery in the Philippines. The new delayed coking unit at the Bataan Refinery is based on Foster Wheeler’s leading SYDECSM delayed coking technology and includes a Foster Wheeler delayed coker heater. The company also undertook the detailed engineering and procurement services for the new coker. Foster Wheeler’s scope of work is scheduled to be completed by the end of 2014.
Foster Wheeler For Air Quality Control System Upgrade In West Virginia
Foster Wheeler AG announced today that a subsidiary of its Global Power Group’s Environmental and Industrial division has been awarded a contract by Longview Power, LLC to rehabilitate and optimize the wet flue gas desulfurization system at their existing 700 MWe (net megawatt electric) Longview Power facility in Maidsville, West Virginia, USA. Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed, and the contract value will be included in the company’s third-quarter 2014 bookings.
ZeoGas hires Foster Wheeler to Plan Gulf Coast Project
Foster Wheeler AG announced today that a subsidiary of its Global Engineering and Construction Group has entered into a Collaboration Agreement with ZeoGas LLC. In the first instance, Foster Wheeler will support ZeoGas’ final site selection and project planning towards the development of ZeoGas’ first fuels manufacturing plant, to be located on the US Gulf Coast. The terms of the agreement were not disclosed, and the contract value for an initial release of work related to the development of a cost estimate and assistance in final site selection and due diligence will be included in the company’s third-quarter 2014 bookings.
Foster Wheeler Wins EPCm Contract In Mozambique
Foster Wheeler AG 's subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement and construction management (EPCm) services contract by Sasol Petroleum Temane Limitada (“Sasol”) for an Electrical Expansion and Fuel Gas Superheater Project at Sasol’s Temane gas processing facility in Mozambique. The Foster Wheeler contract value was not disclosed and will be included in the company’s third-quarter 2014 bookings. The objective of the project is to expand the electric generation capacity of the Temane Central Processing Facility through the addition of a new gas turbine-driven electric generator and a new gas superheater.
Heat Recovery Steam Generators Contract for Foster Wheeler
Foster Wheeler AG announced today that a subsidiary of its Global Power Group has been awarded a contract by Al-Toukhi Company for the design and supply of four heat recovery steam generators (HRSGs). The units will be installed at Saudi Electricity Company’s (SEC) Hail Power Plant in the central region of the Kingdom of Saudi Arabia. Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed and the contract value will be included in the company’s third-quarter 2014 bookings. Foster Wheeler will design and supply the vertical design HRSGs and provide advisory services for erection and start-up of the units.
Foster Wheeler to Supply Heat Recovery Steam Generator In Mexico
Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract by Iberdrola, for the design and supply of a heat recovery steam generator (HRSG). The unit will be installed at a cogeneration plant that Iberdrola is building at the Kimberly Clark de Mexico Ramos Arizpe Facility in Coahuila, Mexico. Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed, and the contract value will be included in the company’s third-quarter 2014 bookings.
Foster Wheeler Licensee Offers Heat Recovery Steam Generators
Foster Wheeler AG announced today that BHI Co., Ltd., a licensee of its Global Power Group, has been awarded two contracts for Heat Recovery Steam Generators (HRSGs) in Asia. BHI offers HRSGs, pulverized coal (PC) boilers, circulating fluidized bed (CFB) boilers and oil and gas boilers all utilizing Foster Wheeler’s proven technology. A contract by Mitsubishi Corporation was awarded to BHI for the design and supply of four HRSGs for the 240 megawatt Bangpoo cogeneration power plant in Thailand, which is scheduled to be on-line by third quarter 2016.
Amec Cuts Sales Forecast on Weaker Exploration
Amec Plc, a British engineering and project management firm, cut its revenue growth forecast for this year as customers cut back on oil and gas exploration. Amec's shares fell as much as 3.3 percent after it reported a 30 percent fall in first-half profit as a stronger pound overshadowed an increase in orders. The company said it expects a "modest" growth in underlying revenue in 2014. It had earlier forecast "good" underlying revenue growth. "The general guidance is that ... (underlying revenue growth) is going to be 'lowish' single digits as opposed to 'highish' single digits," Chief Financial Officer Ian McHoul told Reuters on Thursday.
Foster Wheeler-Led JV to Develop Nafusah Onshore Oilfield
Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group, in joint venture with Taknia Libya Engineering Company (Taknia), has been awarded a front-end engineering design (FEED) contract by Nafusah Oil Operations B.V. Libyan Branch for an onshore oilfield development, known as the Area 47 Development Project in Libya. Area 47 (North Hamada Field) is located in the Hamada region, approximately 200 km south of Tripoli, in the Ghadames Basin. The Foster Wheeler contract value was not disclosed and will be included in the company’s second-quarter 2014 bookings.
Foster Wheeler Licensee To Supply Power Equipment to S. Arabia
Foster Wheeler AG (Nasdaq:FWLT) announced today that BHI Co., Ltd., a licensee of its Global Power Group, has been awarded a contract by Samsung C&T for the design and supply of six heat recovery steam generators (HRSGs) for the 2,100 megawatt Rabigh II combined-cycle power plant in Saudi Arabia. BHI has received a full notice to proceed on this contract. The terms of the agreement were not disclosed, and the royalty value received for the contract was included in Foster Wheeler’s bookings for the first quarter of 2014. Commercial operation of the units is scheduled to begin in 2017.
Foster Wheeler Contracted For Terrace WallTM Steam Reformer Heater
Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by Glencore Oil Projects AG for the engineering and material supply of a steam reformer heater for hydrogen production for the Orsknefteorgsyntez Refinery at Orsk, Russia. The value of Foster Wheeler’s contract was not disclosed and was included in the company’s first-quarter 2014 bookings. The heater will be based on Foster Wheeler's Terrace WallTM design. Foster Wheeler’s scope of work is scheduled to be completed in the second quarter of 2015.
Foster Wheeler Signs Agreement With BOC to Replace Heat Exchangers
Foster Wheeler AG announced today that a subsidiary of its Global Engineering and Construction Group has signed an engineering, procurement and construction management (EPCm) services agreement with BOC, a member of the Linde Group, for the installation of replacement heat exchangers at BOC’s Teesport facility, Teesside, in northeast England. The Foster Wheeler contract value was not disclosed and was included in the company’s first-quarter 2014 bookings. Under this agreement, Foster Wheeler will provide project management, front-end engineering design…
Foster Wheeler Wins Contract For Retrofit-SCR System
Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract by Turun Seudun Energiantuotanto Oy (TSE) for the design, supply and erection of a retrofit-selective catalytic reduction (SCR) system for TSE’s Naantali unit 3 in Finland. Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed, and the contract value will be included in the company’s bookings for the second-quarter of 2014. Commercial operation of the SCR system is scheduled for October 2015.
Foster Wheeler Files Definitive Proxy Materials For EGM
Foster Wheeler AG announced today that it has filed with the U.S. Securities and Exchange Commission (SEC) definitive proxy materials in connection with its Extraordinary General Meeting (EGM) to be held on July 10, 2014 at the Company’s offices in Baar, Switzerland. The Company also is mailing these definitive proxy materials (including voting cards) to holders of record as of June 10, 2014. As described in the definitive proxy materials filed with the SEC, the Company's shareholders will be asked at the EGM to approve (among other things): *Certain amendments to the Company's Articles of Association…
Foster Wheeler Honored With UK's RoSPA Award 7th Time
Foster Wheeler AG (Nasdaq: FWLT) announced today that the UK subsidiary of its Global Engineering and Construction Group has been awarded, for the seventh successive year, the prestigious Order of Distinction Award for Occupational Health and Safety by the UK’s Royal Society for the Prevention of Accidents (RoSPA). The award will be presented during a ceremony in London on 17 June. The Order of Distinction is RoSPA’s highest achievement award and is only presented to those companies which have attained at least 15 consecutive RoSPA Gold Awards for outstanding health and safety performance. Foster Wheeler has received twenty-one consecutive RoSPA Gold Awards.
Foster Wheeler's Terrace Wall Steam Reformer Heater For Kazakhstan
Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by Marubeni Corporation for the engineering and material supply of a new Terrace Wall steam reformer heater, including an air preheating system, for the KazMunayGaz oil refinery located at Atyrau, Republic of Kazakhstan. The value of Foster Wheeler’s contract was not disclosed and was included in the company’s first-quarter 2014 bookings. The steam reformer will be part of a hydrogen production unit with a capacity of 24,000 normal cubic meters per hour to be built at the refinery.
Foster Wheeler's subsidiary awarded contract by LNG Canada
Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group, in joint venture with affiliates of Chiyoda Corporation, Saipem S.p.A. and WorleyParsons Limited (“CFSW JV”), has been awarded a contract by LNG Canada Development Inc. (“LNG Canada”) for the provision of front-end engineering design (“FEED”) and project execution services for a proposed liquefied natural gas (LNG) export project, known as the LNG Canada Project, in Kitimat, British Columbia. The contract value was not disclosed. Foster Wheeler’s portion of the FEED phase will be included in the company’s second-quarter 2014 bookings.
Foster Wheeler Closes Acquisition Of Siemens Environmental Systems And Services
Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Power Group has finalized the acquisition of the Siemens Environmental Systems and Services business that supplies and services clean air technologies for use in power plants and industrial facilities. The transaction was closed April 30, 2014. The Siemens Environmental Systems and Services purchase includes assets of the former Wheelabrator Air Pollution Control Company located in Pittsburgh, Pennsylvania and the Advanced Burner Technology Company located in Branchburg, New Jersey.
