Foster Acquires Yonkers Industries - Analyst Blog
January 10 2013 - 1:45PM
Zacks
Foster Wheeler AG (FWLT) recently announced the
acquisition of Yonkers Industries, Inc., that specializes in
construction and commissioning of pharmaceutical and biotech
facilities, along with managing full EPCm (Engineering, Procurement
and Construction Management) of such facilities. The terms of the
deal were not disclosed.
Foster Wheeler Biokinetics, a part of Fosters Engineering and
Construction Group, is expected to benefit immediately from the
Yonkers acquisition, as the life sciences client portfolio and the
geographic coverage of the two companies complement very well.
Further, the project and construction management skills of Yonkers
are a perfect fit for the biotech, pharmaceutical, food, medical
device, nutritional expertise of Biokinetics.
Therefore, the acquisition of Yonkers is a strategic move by
Foster to provide its pharmaceutical business with a construction
management capability in the U.S. Further, Yonkers has a strong
reputation globally for its contract execution capabilities.
Hence, with this acquisition, Foster looks to reinforce its
value proposition toward its pharmaceutical and biotech clients. In
addition, Yonkers also has a partnership with Modular Partners, and
also possesses the required expertise to provide modular project
delivery worldwide.
Based in Cary, North Carolina, Yonkers has been providing
construction and project management services globally for over
three decades. The company specializes in the building of
pharmaceutical and biotech facilities including R&D, pilot
plants, labs, bulk manufacturing and finished dosage manufacturing,
pulp & paper and process manufacturing. With offices across
California, North Carolina and Puerto Rico and Yonkers has employee
strength of about 200.
Foster currently has a short-term Zacks Rank #3 (Hold). One of
its peers,Jacobs Engineering Group Inc. (JEC) also
carries a short-term Zacks Rank #3 (Hold).
FOSTER WHELR AG (FWLT): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
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