Foster Wheeler to Ring NASDAQ Opening Bell on March 9, 2007
March 06 2007 - 9:00AM
Business Wire
Foster Wheeler Ltd. (NASDAQ: FWLT) announced today that chairman
and chief executive officer Raymond J. Milchovich will ring The
NASDAQ Stock Market Opening Bell on Friday, March 9, 2007, at 9:30
a.m. (Eastern), in celebration of the Company�s recent announcement
of the highest annual net income ever achieved in its 116-year
history. �I am very pleased to have been invited by NASDAQ to
perform the Opening Bell Ceremony, which gives us an ideal platform
to showcase our company with both our customers and the investment
community and to celebrate 2006, which was a record-breaking
earnings year for Foster Wheeler," said Mr. Milchovich. �I would
like to congratulate our management team and recognize all of our
employees worldwide for transforming the earning capability of this
company to a level that far exceeds any prior period in our
Company�s 116-year history. Recognizing all of the progress and
systemic performance improvements that we have made, together with
the commitment, skills and experience of our people, combined with
our leading-edge technologies and global range of services, I am
highly confident that we are very strongly positioned to capture a
significant share of our clients� investments and to deliver a 2007
performance that is even better than the outstanding performance we
delivered in 2006.� To view the NASDAQ opening bell ceremony live
on March 9, visit
http://www.nasdaq.com/reference/marketsite_about.stm to access the
NASDAQ MarketSite webcam at least 15 minutes in advance. 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,
petrochemical, 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 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 I, Item 1A. �Risk Factors� in its most recent annual report on
Form 10-K, 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
oil and gas, oil refining, chemical/petrochemical and power
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;
interruptions to shipping lanes or other methods of transport;
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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