Foster Wheeler

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Foster Wheeler AG
Subsidiary of Amec Foster Wheeler
Traded as NASDAQ: FWLT
Industry Engineering
Founded 1927
Defunct 2015
Headquarters Baar, Switzerland
Key people
J. Kent Masters, Chairman and CEO
Revenue US$ 3.306 billion (2013)
Number of employees
13,311 (December 2013)
Website www.fwc.com

Foster Wheeler AG (formerly Foster Wheeler Inc.) was a Swiss global engineering conglomerate with its principal executive offices in Reading, UK[1] and its registered office in Baar, Canton of Zug, Switzerland.[2] Foster Wheeler was added to the NASDAQ-100 on July 12, 2007. As of November 13, 2014 all Foster Wheeler operating units have become part of the new company Amec Foster Wheeler following a merger with AMEC plc.

History[edit]

Foster Wheeler was formed in 1927 from a merger of the Power Specialty Company (which replaced American Water Works Supply Company, created by Pell and Ernest Foster in 1884) and the Wheeler Condenser & Engineering Company, which was created by Frederick Merriam Wheeler[3] in 1891. It was originally based in New York City but later moved to Livingston, New Jersey and stayed there for nearly a quarter century before relocating to Clinton, New Jersey in 1987.[4]

The company was listed on the New York Stock Exchange in 1929.[5]

The firm was originally based in New York City but later moved to Livingston, New Jersey and stayed there for nearly a quarter century before relocating to Clinton, New Jersey in 1987.[6] In 2000, Foster Wheeler moved its incorporation to Bermuda; in 2008, it moved its incorporation to Switzerland.[7][8]

Foster Wheeler was acquired by AMEC plc in the second half of 2014.[9]

Operations[edit]

The company is focused on the Engineering, Procurement, and Construction (EPC) industry and the power equipment industry. It comprises two business groups: a Global Engineering and Construction (E&C) Group and a Global Power Group.

Global E&C Group[edit]

The Global E&C Group designs, engineers and constructs leading-edge processing facilities and related infrastructure for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals & petrochemicals, pharmaceuticals, biotechnology & healthcare, environmental and power industries.

They own technology in delayed coking, solvent de-asphalting, and hydrogen production processes. They also provide international environmental remediation services with related technical, engineering, design and regulatory services.

Global Power Group[edit]

The Global Power Group builds, owns and operates cogeneration, independent power production, and waste-to-energy facilities as well as facilities for the process industries, providing electricity, steam, and feed stocks to industries and local grids.

See also[edit]

References[edit]

  1. ^ "Amec Foster Wheeler - International engineering and project management services". Retrieved 18 January 2016. 
  2. ^ "Contact Us:Corporate." Foster Wheeler. Retrieved on December 30, 2011. "Foster Wheeler AG Lindenstrasse 10 6340 Baar, (Canton of Zug), Switzerland" and "Principal Executive Offices Foster Wheeler AG 80 Rue de Lausanne 1202 Geneva, Switzerland "
  3. ^ Whittemore, Henry (1894). History of Montclair Township. NY: The Suburban Publishing Co. p. 270. 
  4. ^ Foster Wheeler Funding Universe
  5. ^ "The Stocks That Survived 1929". CNBC. Retrieved 15 August 2016. 
  6. ^ "History of Foster Wheeler Corporation – FundingUniverse". Retrieved 18 January 2016. 
  7. ^ Johnston, David Cay (2000-11-30). "Foster Wheeler to Establish Base in Bermuda". The New York Times. ISSN 0362-4331. Retrieved 2015-06-17. 
  8. ^ "Foster Wheeler Plans Reincorporation in Switzerland (Update4) - Bloomberg". Retrieved 2015-06-17. 
  9. ^ Brian Swint (13 January 2014). "Amec Agrees to Acquire Foster Wheeler for $3.2 Billion". Bloomberg.com. Retrieved 18 January 2016. 

External links[edit]