June 27, 2008
Foster Wheeler Spanish Subsidiary Awarded Multiple HRSG Projects
Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that its Spanish subsidiary Foster Wheeler Energia, S.A., part of its Global Power Group, has been awarded three contracts for heat recovery steam generators (HRSGs) in Portugal, Spain and the Netherlands.
An HRSG recovers heat from a hot gas stream and produces steam that can be used for processing, heating or the generation of electricity.
Foster Wheeler has received a full notice to proceed on all contracts. The terms of the awards were not disclosed, and the contracts have been included in the company's bookings for the first and second quarter of 2008.
The Portuguese consortium, MECI-Somague, awarded Foster Wheeler a contract for the design and supply of two HRSGs to be coupled with General Electric's LM-2500 combustion turbines in a cogeneration power plant that MECI-Somague will build at the Portucel Soporcel manufacturing complex in Setubal, Portugal. The HRSGs are scheduled for delivery during the fourth quarter of 2008.
The Spanish company, CEPSA, awarded Foster Wheeler a contract for the design, supply and erection of an HRSG and auxiliary equipment, which will be integrated in a cogeneration plant to be built at the La Rabida Refinery in Huelva, Spain. The HRSG will be coupled with a General Electric Fr6FA gas turbine. Commercial operation is scheduled for the first quarter of 2010.
The Spanish joint venture, Abener Inabensa Paises Bajos, S.A., awarded Foster Wheeler a contract for the design and supply of an HRSG and auxiliary equipment, as well as erection and commissioning advisory services. This HRSG will be integrated in a bio-ethanol plant to be built at the Rotterdam Europoort in the Netherlands. Delivery is scheduled for the second quarter of 2009.
Foster Wheeler Ltd. is a global company offering, through its subsidiaries, a broad range of engineering, procurement, construction, manufacturing, project development and management, research and plant operation services. Foster Wheeler serves the upstream oil and gas, LNG and gas-to-liquids, refining, petrochemicals, chemicals, power, pharmaceuticals, biotechnology and healthcare industries. The company is based in Hamilton, Bermuda, and its operational headquarters are in Clinton, New Jersey, USA. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.
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