Foster Wheeler Awarded Contract for Three Circulating Fluidized-Bed Steam Generators

Foster Wheeler AG FWLT announced today that a subsidiary of its Global Power Group has been awarded a contract by Zhejiang Jiahua Industrial Park Investment & Development Company for the design and supply of three circulating fluidized-bed steam generators to meet rapidly increasing steam demand at China Chemical and New Material Park (Jiaxing) in east China's Jiaxing city, Zhejiang Province. Foster Wheeler has received a full notice to proceed on this contract. The terms of the agreement were not disclosed and the contract value will be included in the company's second-quarter 2011 bookings. Commercial operation of the new steam generators is scheduled for fourth quarter 2012.