Foster Wheeler to Supply Circulating Fluidized-Bed Boiler to Jyvaskylan Energia Oy, Finland
August 06 2007 - 8:30AM
Business Wire
Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that a
subsidiary of its Global Power Group has been awarded a contract
for a 200 MWe (gross megawatt electric) circulating fluidized-bed
(CFB) steam generator by Jyv�skyl�n Energia Oy. The boiler would be
built as a part of a greenfield power plant project in the city of
Jyv�skyl� in central Finland. Foster Wheeler has received a full
notice to proceed on this contract, which will be included in
Foster Wheeler�s third-quarter 2007 bookings. The terms of the
contract were not disclosed. Foster Wheeler will design and supply
the CFB boiler and auxiliary equipment and will also carry out the
erection and commissioning of the boiler island. The planned power
plant will be a combined heat and power plant fueled by milled peat
and biomass (mostly logging chips). It will be located at
Keljonlahti by Lake P�ij�nne about five kilometers south of
Jyv�skyl� city center. The plant will produce up to 200 MW of
electricity and up to 240 MW of district heat to the city of
Jyv�skyl�. Commercial operation is scheduled for the spring of
2010. �This is a very important project for us,� said James E.
Stone, president and chief executive officer of Foster Wheeler
Power Group Europe. �We are very pleased with this award which
confirms Jyv�skyl� Energia's confidence in our CFB technology and
our project execution capabilities.� "We selected Foster Wheeler
for this important project for its outstanding technology,� said
Juha Lappalainen, chief executive officer of Jyv�skyl�n Energia Oy.
�We were also able to improve our economics with features provided
by the selected CFB technology and innovative tail end heat
recovery. I am sure we all will have a successful project.� 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
upstream oil and gas, LNG and gas-to-liquids, refining,
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, please
visit our Web site at www.fwc.com. Safe Harbor Statement Foster
Wheeler news releases may contain forward-looking statements that
are based on management�s assumptions, expectations and projections
about the Company and the various industries within which the
Company operates. These include statements regarding the Company�s
expectations regarding 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 in Part II, Item 1A �Risk Factors� of the
Company�s most recent quarterly report on Form 10-Q and the
following, could cause the Company�s 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
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cancellations, changes in estimates made by the Company of costs to
complete projects, changes in trade, monetary and fiscal policies
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global operations, currency fluctuations, war and/or terrorist
attacks on facilities either owned or where equipment or services
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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
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increasing competition by foreign and domestic companies,
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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. The
Company undertakes no obligation to publicly update any
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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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