Foster Wheeler Acquires CEntry Sulfur Recovery Technology From FLSmidth & Company

14/12/2010


ZUG, Switzerland, Dec 15, 2010 (BUSINESS WIRE) -- Foster Wheeler AG, (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group has acquired the CEntry Sulfur Recovery proprietary technology from FLSmidth & Company. The acquisition includes patents, know-how and skilled personnel.

The Sulfur Recovery technology is used to treat gas streams containing Hydrogen Sulfide (H2S) for the purpose of reducing the sulfur content of fuel products and to recover a saleable sulfur by-product. The technology includes a sulfur recovery section based on the Claus process, an amine-based tail-gas treating section, an incinerator with waste heat recovery, and proprietary burners. With the growing need for low-sulfur transportation fuels, Foster Wheeler believes the demand for process units to reduce the sulfur content of refinery gas streams is sizeable.

"This addition to our technology portfolio is part of our strategic growth initiative and greatly enhances our ability to provide refiners with the process technology they need to meet increasingly stringent environmental and fuel product specifications," said Umberto della Sala, chief executive officer of Foster Wheeler AG. "This technology addition is complementary to our long and successful track record of engineering and building a wide range of downstream projects, and can be leveraged into adjacent market sectors, such as gas processing, in which we are also active. The technology also will complement our other process technologies, including SYDECSM Delayed Coking, Solvent Deasphalting, Visbreaking and Hydrogen Production."

The CEntry Sulfur Recovery technology is currently used by a number of US and international refiners.

The terms of the transaction were not disclosed.

Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 13,000 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, 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.

FLSmidth & Co. is a global company employing more than 10,500 people world-wide. The company is a leading supplier of equipment, systems and services to the global cement and minerals industries.

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SOURCE: Foster Wheeler AG

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