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Stock Market & Financial Investment News

News Breaks
February 18, 2014
07:34 EDTFWLTFoster Wheeler unit signs collaborationa greement with Tecnimont
Foster Wheeler AG announced that Foster Wheeler USA Corporation, a subsidiary of its Global Engineering and Construction Group, has signed a collaboration agreement with Tecnimont USA Inc., a subsidiary of Maire Tecnimont S.p.A., for front-end engineering design, detailed engineering, procurement and construction of petrochemicals, chemicals and fertilizer facilities in the United States, Canada, and Mexico. Foster Wheeler and Tecnimont will collaborate in pursuing specific opportunities for new plants and plant revamps. This collaboration aims to deliver clients significant added value, combining the world-class skills of both companies: Foster Wheeler with its global chemicals project track record and its reputation as a FEED and EPC contractor in North America, and Tecnimont’s track record in technology-driven chemicals sectors, including olefins and fertilizers and, in particular, its leading track record in polyolefins.
News For FWLT From The Last 14 Days
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October 22, 2014
07:34 EDTFWLTFoster Wheeler unit awarded EPC contract for Exxon Mobil Antwerp refinery
Foster Wheeler (FWLT) announced that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement, and constructioncontract by ExxonMobil (XOM) Petroleum & Chemical BVBA 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 Q1 bookings. The full release of work was included in the company's Q2 bookings. Foster Wheeler’s scope of work is expected to be completed in December 2016.
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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