Jul. 28, 2014, 7:25 AM| Comment!
Jul. 3, 2014, 8:28 AM
- Foster Wheeler's (FWLT) subsidiary, Global Engineering and Construction Group, has won a contract from Owens Corning (OC) to build a new composite materials manufacturing facility for the latter in North Carolina.
- The engineering, procurement and early construction work was included in the company’s Q1 2014 bookings and the balance will be released later in 2014.
- The new facility is expected to be completed by the end of next year.
Jun. 17, 2014, 8:20 AM
- Foster Wheeler's (FWLT) subsidiary Global Power Group has been awarded a contract from Finnish Turun Seudun Energiantuotanto Oy for the design, supply and erection of a retrofit-selective catalytic reduction system.
- The contract value was not disclosed, but it will be included in the company's Q2 report for 2014.
May. 21, 2014, 9:12 AM
- Japan's Chiyoda is selected as the main contractor for the $10B Canada LNG natural gas liquefaction terminal in western Canada, which is expected to supply gas to Japan and other parts of Asia.
- The project, in Kitimat, British Columbia, is spearheaded by Royal Dutch Shell (RDS.A, RDS.B), with minority stakes held by three potential buyers of natural gas: PetroChina (PTR), Korea Gas and Mitsubishi; Canada LNG is one of several big projects envisioned for Canada's west coast, including plans by Chevron to develop another LNG terminal in the Kitimat area.
- A final decision on whether to build the facility has not been made, though LNG Canada calls the move to award the contract as "a great step forward."
- The Chiyoda-led group also includes subsidiaries of Foster Wheeler (FWLT) and Saipem (SAPMY).
May. 7, 2014, 6:47 AM
May. 6, 2014, 5:30 PM
- AGN, ALE, AOL, ARIA, ARQL, ATRO, AVA, AYR, BAM, BUD, CHK, CLH, COT, CTSH, DUK, DVN, DWSN, DX, EE, ENB, END, FWLT, GTIV, GWPH, HNT, HTZ, HUM, INXN, KELYA, KING, LAMR, LGND, LINC, LMIA, MDLZ, MEMP, MZOR, NAVB, NJR, NTLS, NVDQ, POM, PRGO, QRE, RIGL, ROC, SBGI, SE, SEP, SFUN, SNSS, SPAR, SPB, STRA, SUSP, SUSS, TAP, THI, TLM, TMHC, TPC, TRGT, USAC, VOYA, VSI, WBAI, WPX, WRES, XEC.
Mar. 13, 2014, 8:27 AM
- Foster Wheeler (FWLT) agrees to acquire South Africa-based MDM Engineering Group for $109M as it continues to grow through acquisitions.
- MDM performs preliminary and final feasibility studies as well as plant design, construction and commissioning, which FWLT says is a strong fit for the company that enhances its global capacity in its minerals and metals business.
Feb. 27, 2014, 8:43 AM
Feb. 27, 2014, 6:56 AM| Comment!
Feb. 27, 2014, 12:05 AM| Comment!
Feb. 26, 2014, 5:30 PM| 1 Comment
Feb. 13, 2014, 7:41 AM
- AMEC (AMCBF) signs a definitive agreement to acquire Foster Wheeler (FWLT) in a cash-and-shares deal valued at ~$3.3B, confirming last month's announcement of a provisional agreement between the parties.
- AMEC says FWLT's capabilities in the refining and processing of oil and gas will complement its business in exploration and production, and the deal will more than double AMEC's revenue in high-growth regions such as Latin America.
- The news came as AMEC reported a 3% increase in FY 2013 EBITDA of £343M ($566M).
Jan. 13, 2014, 10:12 AM
- Jacobs Engineering (JEC +2.3%) bumps to five-year highs following Amec's plan to acquire peer engineering and construction company Foster Wheeler (FWLT +1%), and a UBS upgrade of JEC shares to Buy from Neutral with a $75 price target (up from $60).
- The upgrade reflects accelerating earnings growth over the next 12-18 months driven by acquisitions, North American energy infrastructure, and reduced government exposure drag, UBS says.
Jan. 13, 2014, 2:35 AM
- U.K. engineering company Amec (AMCBF) has provisionally agreed to acquire Swiss peer Foster Wheeler (FWLT) for £1.9B ($3.13B) in cash and stock.
- The deal values the latter at $32 a share, not far above the company's close of $31.46 on Friday. The firm's shareholders would receive 23% in Amec, which would seek a U.S. listing.
- The transaction would position Amec "to serve across the whole oil and gas value chain," the company said, "adding mid and downstream capabilities to Amec's existing upstream focus and bringing new customer relationships." (PR)
Jan. 3, 2014, 10:15 AM| Comment!
Dec. 20, 2013, 3:58 PM
- Foster Wheeler (FWLT +0.2%) says it has won contracts by Saudi Aramco for engineering and project management services for the development of the Fadhili Gas Program in Saudi Arabia.
- FWLT will execute front-end engineering design services for the grassroots Fadhili Gas Plant, which has a planned total processing capacity of 1.5B cf/day of non-associated gas; FWLT's scope also will include the onshore Khursaniyah upstream facilities, the Fadhili downstream pipelines, a residential camp and industrial support facilities at the new gas plant.
- FWLT did not disclose the contract’s value.
AMFW vs. ETF Alternatives
Amec Foster Wheeler PLCprovides engineering, project delivery, asset support, power equipment and consultancy services. It designs, delivers and maintains strategic and complex infrastructure assets across various markets.
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