ZUG, Switzerland--(BUSINESS WIRE)--Feb. 28, 2012-- Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by a subsidiary of JSC LUKOIL for the supply of a waste heat boiler for LUKOIL Nizhegorodnefteorgsyntez Refinery, Nizhny Novgorod region, Russia. The value of Foster Wheeler’s contract was not disclosed and was included in the company’s fourth-quarter 2011 bookings.
The waste heat boiler will be installed downstream of a fluid catalytic cracking unit, enabling the production of gasoline that is intended to meet European Union Euro-5 standards. Foster Wheeler has supplied a similar unit to the refinery, which unit has been in operation since 2010 to Lukoil’s full satisfaction. Foster Wheeler’s scope of work is scheduled to be completed by March 2013.
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With its takeover of innotec do Brasil based in São Paulo, Brazil, the Siemens Industry Automation Division has extended its leading global position in the field of industrial process engineering software, and at the same time bolstered its presence in one of the world's key growth markets. For more than ten years, Innotec do Brasil has been an exclusive supplier of Comos software solutions for integrated plant management, focusing on Brazil's oil and gas, energy, chemical and paper industries. The newly acquired company will be assigned to the Industrial Automation Systems Business Unit. With the purchase price a closely guarded secret, the deal is set to go ahead subject to approval by the relevant authorities.
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