Key Developments: Foster Wheeler AG (FWLT.O)
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Latest Key Developments (Source: Significant Developments)
Foster Wheeler AG Secures Front-End Engineering Design Contract By Gazpromneft For Refinery Upgrade In Russia
Foster Wheeler AG announced that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by OJSC Gazpromneft Moscow Refinery to provide front-end engineering design (FEED) and design documentation in accordance with Russian norms, for a investment, termed the Combined Oil Refinery Unit (CORU) Project, at the Moscow Refinery. The value of the award was not disclosed and will be included in Foster Wheeler's first-quarter 2013 bookings. Full Article
Foster Wheeler AG Reaffirms FY 2013 EPS Guidance
Foster Wheeler AG announced that for fiscal 2013 it expects adjusted EPS to be flat to moderately below the Company's fiscal 2012 adjusted diluted EPSof $1.54. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $0.30 for first quarter of 2013, EPS of $1.53 for fiscal 2013. Full Article
Foster Wheeler AG Issues Q1 2013 EPS Guidance Below Analysts' Estimates; Reaffirms FY 2013 EPS Guidance
Foster Wheeler AG announced that it expects its fiscal 2013 financial results to be unfavorably affected by two factors that, in aggregate, will likely impact the fiscal 2013 diluted earnings per share (EPS) by approximately $0.11. This impact will be reflected in the Company's first quarter of 2013 diluted EPS, which are expected to be approximately $0.12, or $0.14 on an adjusted basis excluding asbestos-related provisions, which are expected to be $0.02 per diluted share. As a result of these unfavorable items, the Company now expects its fiscal 2013 adjusted EPS to be flat to moderately below the Company's fiscal 2012 adjusted diluted EPSof $1.54. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $0.30 for first quarter of 2013, EPS of $1.53 for fiscal 2013. Full Article
Foster Wheeler AG's Subsidiary Secures Contract For Two Shop-Assembled Steam Generators In Ireland
Foster Wheeler AG announced that a subsidiary of Global Power Group has been awarded a contract by Aughinish Alumina Refinery for the design and supply of two shop-assembled steam generators located at the alumina plant facility at Aughinish Island (Askeaton, Ireland). Aughinish Alumina Refinery is a part of UC RUSAL. 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 first quarter 2013 bookings. Delivery of the new steam generators is scheduled for early 2014. Full Article
Foster Wheeler AG's Global Engineering and Construction Group Signs Services Agreement with Valero Refinery in UK
Foster Wheeler AG announced that a subsidiary of its Global Engineering and Construction Group has signed an evergreen agreement with Valero Energy Ltd (Valero) for the provision of home office engineering and project support services to Valero`s Pembroke Refinery and other facilities in the UK. The terms of the agreement were not disclosed and bookings will be recorded as work is released by Valero. Foster Wheeler will provide home office front-end engineering design and detailed engineering design services to support new development and modification projects at the Pembroke Refinery and other facilities. Foster Wheeler will also provide other support services including project control and cost estimating. Valero acquired the Pembroke refinery in 2011. Full Article
Foster Wheeler AG Issues FY 2013 EPS Guidance Below Analysts' Estimates
Foster Wheeler AG announced that for fiscal 2013, it expects adjusted diluted earnings per share (EPS) to be flat to moderately down as compared to fiscal 2012, adjusted diluted earnings per share excluding the impairment charge. The Company reported EPS of $1.54 in fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report EPS of $2.05 for fiscal 2013. Full Article
Foster Wheeler AG's subsidiary Receives Contract for Circulating Fluidized-Bed Steam Generator In Philippines
Foster Wheeler AG announced that a subsidiary of its Global Power Group has been awarded a contract by Daelim Industrial Co., Ltd. for the design and supply of one circulating fluidized-bed (CFB) steam generator for the SM200 Phase 1 Coal Fired Power Station for Sarangani Energy Corporation, a joint venture company between Alsons Consolidated Resources, Inc. and Toyota Group. The terms of the agreement were not disclosed. Commercial operation of the new steam generator is scheduled for 2015. Full Article
Foster Wheeler AG's Global Power Group Secures Contract For Three Utility Package Steam Generators In Australia
Foster Wheeler AG announced that a subsidiary of its Global Power Group has been awarded a contract by the joint venture comprised of CH2M HILL Australia Pty Ltd. and UGL Engineering Pty Ltd. for the design and supply of three utility package steam generators located at the Ichthys Project onshore LNG facilities at Blaydin Point, near Darwin, Northern Territory, Australia. 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 first quarter 2013 bookings. Delivery of the new steam generators is scheduled for fourth quarter 2014. Foster Wheeler will design and supply the package steam generators plus auxiliary equipment for the project, which will be designed to burn both low pressure natural gas and liquid iso-pentane while meeting applicable environmental regulatory requirements. The three steam generators will be designed to generate a total of 278 tonnes per hour of reliable, high-pressure superheated steam which will be fed to the customer`s steam header. Full Article
Foster Wheeler AG's Global Engineering And Construction Group Secures Contract
Foster Wheeler AG announced that Global Engineering and Construction Group has been awarded a study contract by the Energy Technologies Institute (ETI). The five-month-long study will assess the economics of flexible power generation systems which involve the production of hydrogen from coal, biomass or natural gas, the intermediate storage of hydrogen (for example in underground salt caverns) and the production of power in flexible turbines. Foster Wheeler will execute the study in collaboration with the British Geological Survey. The value of Foster Wheeler's contract was not disclosed and will be included in the Company's first-quarter 2013 bookings. Full Article
Foster Wheeler AG's Global Engineering and Construction Group Secures PMC Contract From KNPC
Foster Wheeler AG announced that its Global Engineering and Construction Group has been awarded a project management and consultancy (PMC) services contract by Kuwait National Petroleum Company (KNPC) for its Clean Fuels Project at the Mina Al-Ahmadi and Mina Abdullah Refineries in Kuwait. The Foster Wheeler scope revenue value of the contract is $500 million and will be included in the Company`s fourth-quarter 2012 bookings. KNPC`s Clean Fuels Project is a upgrade and expansion of the Mina Al-Ahmadi and Mina Abdullah Refineries to increase their combined throughput by 264,000 barrels per stream day to 800,000 barrels per stream day. The objective is to increase conversion of fuel oil to higher value products in order to meet expected market demand and tighter specifications (1%) for the sulfur content of transportation fuels. Foster Wheeler`s scope of work includes the provision of project management services during the tendering phase for the main EPC contracts, and management of the EPC contractors through to completion of performance testing. The Clean Fuels Project is expected to be completed during the second quarter of 2018. Full Article
Suspect arrested in Houston college shooting
SAN ANTONIO - The gunman investigators believe fired 10 shots on a college campus near Houston on Tuesday was arrested early Friday and charged with two counts of aggravated assault with a deadly weapon and resisting arrest.
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