Foster Wheeler Awarded Low NOx Burner in Spain
January 27 2010 - 8:15AM
Business Wire
Foster Wheeler AG (Nasdaq: FWLT) announced today that a
subsidiary of its Global Power Group has been awarded a contract to
design and supply a Low NOx Burner System for the Spanish
utility company ENDESA. The Low NOx Burner System will be
integrated in the Compostilla Power Plant, Unit 3 (330 MWe) located
in Ponferrada, León, Spain.
Foster Wheeler has received a full notice to proceed on this
contract. The terms of the agreement were not disclosed, and the
contract value will be included in the company’s fourth quarter
2009 bookings. Commercial operation is scheduled for the fourth
quarter of 2010.
This Low NOx Burner System is the third awarded to Foster
Wheeler by ENDESA for the Compostilla Power Plant (after Units 4
& 5). When Unit 3 reaches full operation, all three operating
units at the facility will be capable of operating at NOx
levels below the most restrictive emission levels according to
local regulation and with fly ash of sufficient quality to permit
the plant to sell this waste product to local cement producers.
This is the twelfth Low NOx Burner System awarded to
Foster Wheeler by ENDESA in recent years, providing for NOx
emission reductions throughout the ENDESA utility network in
Spain.
Foster Wheeler AG is a global engineering and construction
contractor and power equipment supplier delivering technically
advanced, reliable facilities and equipment. The company employs
approximately 14,000 talented professionals with specialized
expertise dedicated to serving its clients through one of its two
primary business groups. The company’s Global Engineering and
Construction Group designs and constructs leading-edge processing
facilities for the upstream oil and gas, LNG and gas-to-liquids,
refining, chemicals and petrochemicals, power, environmental,
pharmaceuticals, biotechnology and healthcare industries. The
company’s Global Power Group is a world leader in combustion and
steam generation technology that designs, manufactures and erects
steam generating and auxiliary equipment for power stations and
industrial facilities and also provides a wide range of aftermarket
services. The company is based in Zug, Switzerland. For more
information about Foster Wheeler, please visit our Web site at
www.fwc.com.
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Foster Wheeler AG news releases may contain forward-looking
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which the Company operates. These include statements regarding the
Company’s expectations 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
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cautions that a variety of factors, including but not limited to
the factors described in the Company’s most recent Annual Report on
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Commission and the following, could cause the Company’s business
conditions and results to differ materially from what is contained
in forward-looking statements: benefits, effects or results of the
Company’s redomestication, further deterioration in the economic
conditions 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
worldwide, compliance with laws and regulations relating to its
global operations, currency fluctuations, war and/or terrorist
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equipment or services are or may be provided by the Company,
interruptions to shipping lanes or other methods of transit,
outcomes of pending and future litigation, including litigation
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coverage for asbestos exposure, protection and validity of its
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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.
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