Foster Wheeler Awarded EPCm Contract For New Chemicals Facility In Singapore
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
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 Butyl Pte. Ltd. for a new neodymium polybutadiene (Nd-PBR) rubber plant to be built on Jurong Island, Singapore. This award follows Foster Wheeler’s successful completion of the front-end engineering design for this project earlier this year. Foster Wheeler’s scope of work is expected to be completed in 2014. The Foster Wheeler contract value for this project was not disclosed and will be included in the company’s third-quarter 2012 bookings. The new facility, which facility LANXESS states is expected to be the largest of its kind in the world, will be designed to produce 140,000 tonnes per annum of Nd-PBR and will include process and finishing buildings, a central control room, a substation and a tank farm. It will be built alongside LANXESS’ 100,000 tonnes-per-year synthetic butyl rubber plant, the largest facility of its type in Asia, due to start up in 2013, and for which Foster Wheeler is also the EPCm contractor. Nd-PBR is used in tire manufacturing. LANXESS states that its use reduces rolling resistance and increases vehicle energy efficiency compared with conventional tire rubber, also reducing tire abrasion, playing a significant role in making cars safer as well as “greener” and more economical. “We have built an excellent working relationship with LANXESS and we are looking forward to further developing a long-term business relationship based on our performance in delivering LANXESS’ projects safely and successfully,” said Umberto della Sala, Chief Operating Officer, Foster Wheeler AG. “We are pleased to strengthen the successful relationship with Foster Wheeler in order to continue to jointly and safely implement the LANXESS growth strategy in the Asia Pacific region," said Carsten Kopke, project director, LANXESS Asia Pacific.