Foster Wheeler Wins Contract - Analyst Blog
May 17 2011 - 1:12PM
Zacks
A subsidiary of Foster Wheeler AG’s (FWLT)
Global Power Group received a contact for three circulating
fluidized-bed (CFB) steam generators from Zhejiang Jiahua
Industrial Park Investment & Development Company of China. The
generators will be designed and supplied by the company for China
Chemical and New Material Park (Jiaxing) in east China's Jiaxing
city, Zhejiang Province, to meet its rising demand for steam.
The terms of the contract were not disclosed. The second-quarter
2011 bookings of Foster Wheeler include the current deal. The steam
generators are expected to start its operations from fourth-quarter
2012.
Apart from the three 100 Mwe (gross megawatt electric) CFB
generators, Foster Wheeler will also be providing auxiliary
equipment and site advisory services for the project. The
generators are built to meet all environmental requirements while
it burns coal. More than 60 CFBs from Foster Wheeler are being used
by the Chinese Clients while building confidence among the clients
for the company’s environmentally friendly CFB technology.
Foster Wheeler AG is based in Zug Switzerland, but its
operational headquarters are in Clinton NJ USA. The majority of
Foster’s revenues and new businesses originate from outside the
United States. Major competitors of Foster Wheeler are
Fluor Corporation (FLR) and Jacobs
Engineering Group Inc. (JEC).
We continue to maintain a Neutral rating on Foster Wheeler, with
a Zacks #4 Rank (Sell recommendation) over the next one-to-three
months.
FLUOR CORP-NEW (FLR): Free Stock Analysis Report
FOSTER WHELR AG (FWLT): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
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