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Stock Market & Financial Investment News

News Breaks
March 20, 2014
07:33 EDTFWLT, SIFoster 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.
News For FWLT;SI From The Last 14 Days
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October 20, 2014
07:12 EDTSICongress of Neurological Surgeons to hold annual meeting
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07:11 EDTSIAmerican Society for Reproductive Medicine to hold annual meeting
2014 Annual Meeting of ASRM is being held in Honolulu on October 18-22.
October 14, 2014
07:31 EDTFWLTFoster Wheeler awarded contract from PEMEX
Foster Wheeler announced that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by PEMEX REFINACIÓN for an ultra-low sulfur diesel project at the Salina Cruz refinery, Oaxaca, Mexico. Foster Wheeler’s scope of work, which also includes start-up and testing, is scheduled to be completed in 2018. The Foster Wheeler contract value was not disclosed. The initial release of work, relating to detailed design and the procurement of long-lead items, will be included in the company’s Q3 bookings. The balance of the agreed workscope is expected to be released in FY15. The investment in the Salina Cruz refinery, in excess of $500M, is part of a clean fuels program being implemented by PEMEX as a result of the country’s recent Energy Reform. The objective of the program is to significantly reduce the sulfur content of diesel produced from 500 to 15 parts per million.

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