Foster Wheeler Subsidiary Receives Boiler Contract

HARTFORD, Conn. (AP) — Engineering and construction company Foster Wheeler AG said Tuesday a subsidiary has received a contract to build a biomass-fired boiler for a Polish power station.

The Zug, Switzerland, company said a subsidiary of its global power group received the contract by ZE PAK S.A. for the design, supply and construction of a 55 electrical megawatt biomass-fired boiler island for the Konin Power Station in Poland.

Terms of the agreement were not disclosed. The value of the contract will be included in Foster Wheeler's bookings for the third quarter.

Commercial operation of the new steam generator is set to begin in the first quarter of 2012.

Foster Wheeler will design and supply the steam generator and auxiliary equipment and will carry out the erection and commissioning of the boiler island.

The steam generator will be designed to burn wood biomass.

Shares rose $1.27, or 4.4 percent, to $30.34 in morning trading.