Foster Wheeler Wins Award - Analyst Blog
April 12 2012 - 11:15AM
Zacks
Foster Wheeler
AG (FWLT) received the International Headquarters
Award from the Singapore Economic Development Board (EDB). The
prestigious award was conferred to Foster Wheeler Asia Pacific, a
subsidiary of Foster Wheeler’s Global Engineering and Construction
Group. For over 40 years, Foster Wheeler Asia Pacific has been
working on various projects in Singapore and other regions.
Strategies for developing Singapore
as a global business center are made and executed by EDB. The
Headquarters Programme focuses on developing Singapore as a center
for companies to administer, manage and control their businesses
and operations, regionally and globally.
Foster Wheeler Asia Pacific quite
pertinently has its headquarters in Singapore, from which it has
successfully worked on a number of projects.
Foster’s diverse activities reflect
its strong position in a wide range of markets across both business
lines and geographies. The company not only has solid bookings but
also a good pipeline prospect. Foster Wheeler is witnessing a
growing need for capacity additions in a number of developing
countries. There is often a preference for solid fuel boilers in
these countries. The company’s CFB technology is the preferred
solid fuel technology when a client has a hard-to-burn fuel or
needs flexibility in fuel type. However, a weak market condition
remains a matter of concern for the company.
Based in Zug Switzerland, Foster
Wheeler AG has its operational headquarters in Clinton NJ USA. The
majority of Foster’s revenues and new businesses come 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, the stock retains a
Neutral rating on Foster Wheeler, with a Zacks #3 Rank (short-term
Hold recommendation).
FOSTER WHELR AG (FWLT): Free Stock Analysis Report
JACOBS ENGIN GR (JEC): Free Stock Analysis Report
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