Foster Wheeler Signs EPCm Services Agreement with BOC for Replacement Heat Exchangers at Teesport, UK
June 23 2014 - 7:30AM
Business Wire
Foster Wheeler AG (Nasdaq:FWLT) announced today that a
subsidiary of its Global Engineering and Construction Group has
signed an engineering, procurement and construction management
(EPCm) services agreement with BOC, a member of The Linde Group,
for the installation of replacement heat exchangers at BOC’s
Teesport facility, Teesside, in northeast England.
The Foster Wheeler contract value was not disclosed and was
included in the company’s first-quarter 2014 bookings.
Under this agreement, Foster Wheeler will provide project
management, front-end engineering design, detailed engineering
design, procurement services, construction supervision and quality
assurance for the replacement of existing aluminium plate fin
exchangers in the 1,300 tons per day air separation plant.
Installation is scheduled for completion in the fourth quarter of
2014. The Teesport facility provides oxygen and other gases to
industrial facilities in the region.
Foster Wheeler AG is a global engineering and construction
company and power equipment supplier delivering technically
advanced, reliable facilities and equipment. The company employs
approximately 13,000 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, minerals and metals,
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, and its operational headquarters office is in Reading,
United Kingdom. For more information about Foster Wheeler, please
visit our website at www.fwc.com.
BOC is a member of The Linde Group. An industrial, medical and
special gases provider, the company supplies compressed and bulk
gases, chemicals and equipment and is pioneering clean energy
technologies including carbon capture and storage. For more than a
century the company's gases and expertise have contributed to
advances in many areas of everyday life, and industries including
steelmaking, refining, chemical processing, environmental
protection, wastewater treatment, welding and cutting, food
processing and distribution, glass production, electronics and
health care. For more information, visit: www.BOConline.co.uk.
Safe Harbor Statement
Foster Wheeler AG 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 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 in the Company’s most recent Annual Report on
Form 10-K for the year ended December 31, 2013, which was filed
with the U.S. Securities and Exchange Commission on February 27,
2014, and the following, could cause the Company’s business
conditions and results to differ materially from what is contained
in forward-looking statements including: the timing and success of
the proposed offer and acquisition of the Company by AMEC plc, the
risk that the Company’s business will be adversely impacted during
the pending proposed offer and acquisition of the Company by AMEC
plc, benefits, effects or results of the Company’s redomestication
to Switzerland, deterioration in global economic conditions,
changes in investment by the oil and gas, oil refining,
chemical/petrochemical and power generation industries, changes in
the financial condition of its customers, changes in regulatory
environments, changes in project design or schedules, contract
cancellations, the 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 the Company’s global operations, currency fluctuations, war,
terrorist attacks and/or natural disasters affecting facilities
either owned by the Company or where 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 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 global competition,
compliance with its 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 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 or furnished to the
Securities and Exchange Commission.
Media:United StatesLiz Picone,
+1-908-713-2946liz_picone@fwc.comorUKAnne Chong,
+44-118-913-2106anne_chong@fwuk.fwc.comorInvestor
Relations:Scott Lamb,
+1-908-730-4155scott_lamb@fwc.comorOther
Inquiries:+1-908-730-4000fw@fwc.com
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