Foster Wheeler Wins Two Contracts for Steam Generation Equipment in Saudi Arabia

Saudi Arabia

Announced today that a subsidiary of its Global Power Group has been awarded two separate contracts by Tecnicas Reunidas Power of Madrid, Spain.

One contract award is for the design and supply of two heat recovery steam generators (HRSG).

The other contract award is for the design and supply of two package-type steam generators. The equipment will be installed at the Manifa Cogeneration and Main Substations Project in Saudi Arabia by Tecnicas Reunidas for Saudi Aramco.

Foster Wheeler has received a full notice to proceed on these contracts. The terms of the agreements were not disclosed, and the contract values were included in the company's bookings for the third quarter of 2009.

"This is truly an exciting design and supply opportunity for Foster Wheeler and we are pleased to jointly work with Tecnicas Reunidas for this Saudi Aramco Project," said Eric Svendsen, chief executive officer of Foster Wheeler Energia, S.A. in Madrid.

Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs over 14,000 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 are in Clinton, New Jersey, USA. For more information about Foster Wheeler, please visit our Web site at http://www.fwc.com.