Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract for basic engineering for the Squaw Gulch ADR2 project, a new adsorption, desorption and recovery (ADR) facility at AngloGold Ashanti (Colorado) Corp.’s Cripple Creek and Victor Gold Mining Company’s site in Teller, Colorado, U.S.
Foster Wheeler's contract value was not disclosed and will be included in the company's first-quarter 2014 bookings. Foster Wheeler’s scope of work is scheduled for completion in the third quarter of 2014.
“This is an important first win with AngloGold Ashanti, a major gold producer,” said Dave Lawson, Foster Wheeler’s President and Chief Executive Officer – Minerals and Metals. “This is also our second win with a gold-producing client. Along with our 2013 contract win to provide EPC and related services for a grassroots molybdenum refinery in Chile, this latest award demonstrates our strategy to build our position with major global producers and to extend the range of minerals and metals in which we are successfully winning business.”
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.
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statements regarding the Company’s expectations about revenues
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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
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the factors described in the Company’s most recent Annual Report on Form
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and the following, could cause the Company’s business conditions and
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acquisition of the Company by AMEC plc, the risk that the Company’s
business will be adversely impacted during the pending proposed offer
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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,
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Company’s global operations, currency fluctuations, war, terrorist
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outcomes of pending and future litigation, including litigation
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asbestos exposure, protection and validity of the Company’s patents and
other intellectual property rights, increasing global competition,
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be realized, as well as other factors, may also cause actual results to
differ materially from those projected. Most of these factors are
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forward-looking statements, whether as a result of new information,
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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.
Contacts:
Media:
United States
Patti
Landsperger, +1 908-713-2944
patti_landsperger@fwc.com
or
Investor
Relations:
Scott Lamb, +1 908-730-4155
scott_lamb@fwc.com
or
Other
Inquiries:
+1 908-730-4000
fw@fwc.com