Foster Wheeler Awarded EPCm Contract By Karnalyte Resources Inc. For Wynyard Carnallite Project In Canada
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) services
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) services contract by Karnalyte Resources Inc. for the Wynyard Carnallite Project in Canada. The project involves the construction of a facility which is expected to produce 625,000 tonnes of potash per year. The Foster Wheeler contract value was not disclosed. A small initial booking will be made in the company’s third quarter 2012 bookings, with follow-up bookings as work releases are issued by the client. As part of this project, Foster Wheeler will coordinate with ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH ("ERCOSPLAN") of Erfurt Germany, which will provide engineering, cavern development, mine plan, and commissioning for the solution mining of the project (under direct contract to the client). “This Wynyard Carnallite Project win demonstrates that clients continue to value our expertise and strengths in executing projects in remote locations, where we utilize modularization, lean construction and innovative methodologies to deliver a cost-effective execution strategy,” said Umberto della Sala, Chief Operating Officer, Foster Wheeler AG. 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. 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