Foster Wheeler Signs License Agreement in India

Foster Wheeler AG FWLT announced today that a subsidiary of its Global Power Group has entered into a 20-year agreement with The Saraswati Industrial Syndicate Ltd., to provide an advanced technology license for wall-fired subcritical and supercritical pulverized-coal steam generators to be sold in India. The terms of the agreement were not disclosed. The contract value will be included in the company's third quarter 2010 bookings and future royalty payments will be recorded over the life of the agreement. Under a separate existing agreement, Foster Wheeler and Saraswati have successfully sold and executed 34 circulating fluidized-bed steam generators in India totalling approximately 1.5 GWe since 1997.