Foster Wheeler Awarded Contract for Two Shop-Assembled Steam Generators in Ireland
Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of
its Global Power Group has been awarded a contract by Aughinish Alumina
Refinery for the design and supply of two shop-assembled steam
generators located at the alumina plant facility at Aughinish Island
(Askeaton, Ireland). Aughinish Alumina Refinery is a part of UC RUSAL.
Foster Wheeler has received a full notice to proceed on this contract.
The terms of the agreement were not disclosed and the contract value
will be included in the company’s first quarter 2013 bookings. Delivery
of the new steam generators is scheduled for early 2014.
Foster Wheeler will design and supply the package steam generators
including auxiliary equipment and technical advisory services for the
project, which will be designed to burn natural gas while meeting
applicable environmental regulatory requirements. The two steam
generators will be designed to generate a total of 300 tons per hour of
reliable, high-pressure superheated steam which will be fed to the
plant´s process steam system.
“These new units represent a significant replacement upgrade of the
existing oil-fired boilers supplied by Foster Wheeler more than three
decades ago,” said Gary Nedelka, Chief Executive Officer of Foster
Wheeler’s Global Power Group. “We are happy that Aughinish Alumina
Refinery has chosen Foster Wheeler once again to supply the product they
need to meet their long-term strategic needs.”
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, mining 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 Web site at www.fwc.com.
Aughinish Alumina is among the most technologically advanced and energy
efficient of such facilities globally. It has the capacity to produce
nearly two million metric tonnes of alumina per year and is the largest
of UC RUSAL’s alumina refineries.
UC RUSAL is a global leader in the production of aluminum and employs
about 72,000 people in 19 countries, across five continents. UC RUSAL
markets and sells its products primarily in the European, Japanese,
Korean, Chinese, South East Asian and North American markets.
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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, which was filed with the U.S. Securities and
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business conditions and results to differ materially from what is
contained in forward-looking statements: benefits, effects or results of
the Company’s redomestication to Switzerland, benefits, effects or
results of the Company’s strategic renewal initiative, further
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,
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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 or furnished with the Securities and Exchange Commission.