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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.
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August 20, 2014
07:31 EDTFWLTFoster Wheeler awarded contract for heat recovery steam generator in Mexico
Foster Wheeler AG announced 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. 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 will design and supply the HRSG and provide advisory services for erection and start-up of the unit, which will incorporate a dual pressure level design with the capability to produce steam with or without combustion turbine operation. The HRSG will be coupled to a GE LM6000PH combustion gas turbine. Commercial operation of the HRSG is scheduled to begin during the first quarter of 2016.

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