FWLT (MM)

Foster Wheeler Ltd. (Nasdaq: FWLT) announced that its Houston-headquartered operating unit, Foster Wheeler USA Corporation and FWUSA�s Indian subsidiary, part of its Global Engineering and Construction Group, have acquired the bulk of the assets of Quotient Engineering, Inc. (�Quotient�). Established in 2001, Quotient is a full-service engineering and design company with its management headquartered in Houston, Texas, and an engineering center in Kolkata, India. Quotient provides high-quality, low-cost services to process-based industries: petrochemicals, refining, upstream oil and gas, and power industries. The terms of the transaction were not disclosed. �This acquisition will enable us to accelerate the development of our high-quality, low-cost engineering capability in India. We already have well-established and significant operations located in Chennai and Kolkata and see this acquisition as highly complementary to our existing Kolkata operation,� said W. Troy Roder, president and chief executive officer, Foster Wheeler USA Corporation. �The newly acquired engineering center in Kolkata, which has approximately 90 staff, will deliver its services primarily to our Houston operation in support of Foster Wheeler USA�s growth strategy, and enhance the ability of our U.S. operation to deliver high-value, cost-competitive solutions to its clients. In addition, our Houston operation has already established a strong working relationship with many of the newly acquired staff, having worked with the Quotient team on Indian and international projects for some time.� 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, power, pharmaceuticals, biotechnology and healthcare industries. The company 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 financial condition of its customers, changes in regulatory environments, changes in project design or schedules, contract cancellations, changes in estimates made by the Company of costs to complete projects, changes in trade, monetary and fiscal policies worldwide, compliance with laws and regulations relating to its global operations, 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 its patents and other intellectual property rights, increasing competition by foreign and domestic companies, compliance with its debt covenants, recoverability of claims against its customers and others by the Company and clams by third parties against the Company, and changes in estimates used in its 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 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.