Foster Wheeler Appoints Lisa Nargi Vice President of Corporate Risk Management
October 17 2006 - 1:57PM
Business Wire
Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that Lisa Nargi
has rejoined Foster Wheeler and has been appointed vice president
of corporate risk management, Foster Wheeler Inc. Ms. Nargi will
report to John T. La Duc, executive vice president and chief
financial officer. Ms. Nargi was most recently director of
insurance at American Standard Companies Inc. �Lisa is a talented
individual with considerable insurance and risk management
experience. I am delighted that Foster Wheeler has been successful
in securing Lisa�s return to the company and believe that she will
add significant value to our corporate risk management activities,�
said John T. La Duc. Lisa worked for Foster Wheeler from 1986 to
2003, most recently as manager of risk management. She has a B.A.
from St John�s University in New York. Notes to Editors: 1. Foster
Wheeler Ltd. is a global company offering, through its
subsidiaries, a broad range of engineering, procurement,
construction, manufacturing, project development and management,
research and plant operation services. Foster Wheeler serves the
refining, upstream oil and gas, LNG and gas-to-liquids,
petrochemicals, chemicals, power, pharmaceuticals, biotechnology
and healthcare industries. The corporation is based in Hamilton,
Bermuda, and its operational headquarters are in Clinton, New
Jersey, USA. For more information about Foster Wheeler, visit our
Web site at http://www.fwc.com. 2. Safe Harbor Statement This press
release may contain forward-looking statements that are based on
the Company�s assumptions, expectations and projections about
Foster Wheeler and the various industries within which it operates.
These include statements regarding the Company�s expectation about
revenues (including as expressed by its backlog), its liquidity,
the outcome of litigation and legal proceedings and recoveries from
customers for claims, and the costs of current and future asbestos
claims and the amount and timing of related insurance recoveries.
Such forward-looking statements by their nature involve a degree of
risk and uncertainty. The Company cautions that a variety of
factors, including but not limited to the factors described under
Part II, Item 1A. �Risk Factors� in its most recent quarterly
report on Form 10-Q, could cause business conditions and results to
differ materially from what is contained in forward-looking
statements: changes in the rate of economic growth in the United
States and other major international economies; changes in
investment by the power, oil and gas, pharmaceutical and
chemical/petrochemical industries; changes in the financial
condition of the Company�s customers; changes in regulatory
environment; changes in project design or schedules; contract
cancellations; changes in the Company�s estimates of costs to
complete projects; changes in trade, monetary and fiscal policies
worldwide; currency fluctuations; war and/or terrorist attacks on
facilities either owned or where equipment or services are or may
be provided; outcomes of pending and future litigation, including
litigation regarding the Company�s liability for damages and
insurance coverage for asbestos exposure; protection and validity
of the Company�s patents and other intellectual property rights;
increasing competition by foreign and domestic companies;
compliance with the Company�s debt covenants; recoverability of
claims against the Company�s customers and others by the Company
and claims by third parties against the Company; and changes in
estimates used in the Company�s critical accounting policies. Other
factors and assumptions not identified above were also involved in
the formation of these forward-looking statements and the failure
of such other assumptions to be realized, as well as other factors,
may also cause actual results to differ materially from those
projected. Most of these factors are difficult to predict
accurately and are generally beyond the Company�s control. You
should consider the areas of risk described above in connection
with any forward-looking statements that may be made by the
Company. Foster Wheeler undertakes no obligation to publicly update
any forward-looking statements, whether as a result of new
information, future events or otherwise. You are advised, however,
to consult any additional disclosures the Company makes in proxy
statements, quarterly reports on Form 10-Q, annual reports on Form
10-K and current reports on Form 8-K filed with the Securities and
Exchange Commission. Foster Wheeler Ltd. (Nasdaq: FWLT) announced
today that Lisa Nargi has rejoined Foster Wheeler and has been
appointed vice president of corporate risk management, Foster
Wheeler Inc. Ms. Nargi will report to John T. La Duc, executive
vice president and chief financial officer. Ms. Nargi was most
recently director of insurance at American Standard Companies Inc.
"Lisa is a talented individual with considerable insurance and risk
management experience. I am delighted that Foster Wheeler has been
successful in securing Lisa's return to the company and believe
that she will add significant value to our corporate risk
management activities," said John T. La Duc. Lisa worked for Foster
Wheeler from 1986 to 2003, most recently as manager of risk
management. She has a B.A. from St John's University in New York.
Notes to Editors: 1. Foster Wheeler Ltd. is a global company
offering, through its subsidiaries, a broad range of engineering,
procurement, construction, manufacturing, project development and
management, research and plant operation services. Foster Wheeler
serves the refining, upstream oil and gas, LNG and gas-to-liquids,
petrochemicals, chemicals, power, pharmaceuticals, biotechnology
and healthcare industries. The corporation is based in Hamilton,
Bermuda, and its operational headquarters are in Clinton, New
Jersey, USA. For more information about Foster Wheeler, visit our
Web site at http://www.fwc.com. 2. Safe Harbor Statement This press
release may contain forward-looking statements that are based on
the Company's assumptions, expectations and projections about
Foster Wheeler and the various industries within which it operates.
These include statements regarding the Company's expectation about
revenues (including as expressed by its backlog), its liquidity,
the outcome of litigation and legal proceedings and recoveries from
customers for claims, and the costs of current and future asbestos
claims and the amount and timing of related insurance recoveries.
Such forward-looking statements by their nature involve a degree of
risk and uncertainty. The Company cautions that a variety of
factors, including but not limited to the factors described under
Part II, Item 1A. "Risk Factors" in its most recent quarterly
report on Form 10-Q, could cause business conditions and results to
differ materially from what is contained in forward-looking
statements: changes in the rate of economic growth in the United
States and other major international economies; changes in
investment by the power, oil and gas, pharmaceutical and
chemical/petrochemical industries; changes in the financial
condition of the Company's customers; changes in regulatory
environment; changes in project design or schedules; contract
cancellations; changes in the Company's estimates of costs to
complete projects; changes in trade, monetary and fiscal policies
worldwide; currency fluctuations; war and/or terrorist attacks on
facilities either owned or where equipment or services are or may
be provided; outcomes of pending and future litigation, including
litigation regarding the Company's liability for damages and
insurance coverage for asbestos exposure; protection and validity
of the Company's patents and other intellectual property rights;
increasing competition by foreign and domestic companies;
compliance with the Company's debt covenants; recoverability of
claims against the Company's customers and others by the Company
and claims by third parties against the Company; and changes in
estimates used in the Company's critical accounting policies. Other
factors and assumptions not identified above were also involved in
the formation of these forward-looking statements and the failure
of such other assumptions to be realized, as well as other factors,
may also cause actual results to differ materially from those
projected. Most of these factors are difficult to predict
accurately and are generally beyond the Company's control. You
should consider the areas of risk described above in connection
with any forward-looking statements that may be made by the
Company. Foster Wheeler undertakes no obligation to publicly update
any forward-looking statements, whether as a result of new
information, future events or otherwise. You are advised, however,
to consult any additional disclosures the Company makes in proxy
statements, quarterly reports on Form 10-Q, annual reports on Form
10-K and current reports on Form 8-K filed with the Securities and
Exchange Commission.
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