FWLT to Improve Sweden Environment - Analyst Blog
February 15 2012 - 7:30AM
Zacks
Foster Wheeler
AG’s (FWLT) Global Power Group, through its subsidiary,
received a contract from a municipality-owned energy supplier in
the Southern region of Sweden, Lunds Energi. As per the contract, a
35 MWe (gross megawatt electric) biomass-fired circulating
fluidized-bed (CFB) boiler island will be designed, supplied and
manufactured by Foster Wheeler.
The companies did not disclose the
terms of the contract, which will be included in the first-quarter
2012 bookings of Foster Wheeler. The company has received notice to
start work on the contract. The new steam generator is expected to
start operating commercially in the second quarter of 2014.
The project involves construction
of a new combined heat and power plant in place of an existing old
equipment operating on fossil fuels. Foster Wheeler will design and
deliver the steam generator and auxiliary equipment, as well as
erect and commission the boiler island. The steam generator will be
designed to burn 100% bio fuel with up to 50% demolition wood.
Foster Wheeler’s CFB technology is
an excellent solution for biomass power generation as it uses a
number of renewable and waste fuels. Through this, the company will
be able to provide a better environment.
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. The company serves the
following industries: Oil and Gas; Oil Refining; Chemical &
Petrochemical; Pharmaceutical; Environmental; Power Generation; and
Power Plant Operation and Maintenance. The major competitors of
Foster Wheeler are Fluor Corporation (FLR) and
Jacobs Engineering Group Inc. (JEC).
Currently, we are maintaining a
Zacks #5 Rank (short-term Strong-Sell recommendation) on Foster
Wheeler.
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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