Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement and construction management (EPCm) contract by LANXESS Changzhou Co., Ltd for a new ethylene propylene diene monomer (EPDM) rubber plant to be built at the Changzhou Yangtze Riverside Industrial Park at Changzhou, Jiangsu Province, in the People’s Republic of China. Foster Wheeler is currently executing the front-end engineering design (FEED) for this facility.
The Foster Wheeler contract value for this project was not disclosed and was included in the company’s third-quarter 2012 bookings.
The new facility will be designed to produce 160,000 tonnes per annum of EPDM rubber. The plant is expected to start up in 2015. LANXESS, a leading specialty chemicals company headquartered in Germany, states that this new plant, which it describes as the largest EPDM rubber facility in the world, is its largest investment in China to date.
EPDM is used primarily in the automotive industry as door sealants or windscreen wipers. It is also used in the plastics modification, cable and wire, construction and oil additives industries.“This latest win further demonstrates the value LANXESS places on the quality of our people and its confidence in our performance in delivering LANXESS’ projects safely and successfully,” said Umberto della Sala, Chief Operating Officer, Foster Wheeler AG. “Foster Wheeler is working as the EPCm contractor on three of LANXESS’ major projects in Asia.” 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 12,000 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 Geneva, Switzerland. For more information about Foster Wheeler, please visit our Web site at www.fwc.com. LANXESS is a leading specialty chemicals company with sales of EUR 8.8 billion in 2011 and currently around 17,100 employees in 31 countries. The company is currently represented at 49 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals. LANXESS is a member of the leading sustainable indices Dow Jones Sustainability Index (DJSI) World and FTSE4Good.