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Stock Market & Financial Investment News

News Breaks
March 20, 2014
07:33 EDTSI, FWLTFoster Wheeler to acquire Siemens Energy environmental business
Foster Wheeler (FWLT) announced that a subsidiary of its Global Power Group has signed an asset purchase agreement with Siemens Energy, a unit of Siemens (SI), to acquire the Siemens Environmental Systems and Services business that supplies and services clean air technologies for use in power plants and industrial facilities. Closing of the transaction is subject to customary closing conditions, and is expected in 2Q14. 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. Foster Wheeler does not expect the Siemens transaction to affect the timing of completion of the business combination of Foster Wheeler and AMEC.
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