foster wheeler ag (FWLT) Snapshot

Foster Wheeler AG announced that a subsidiary of its Global Engineering and Construction Group has signed a cooperation agreement with Clariant International AG (Clariant) and Wison Engineering Ltd. (Wison Engineering) to build a pilot plant to demonstrate Foster Wheeler's VESTA substitute natural gas (SNG) technology. The pilot plant will be constructed in China and is planned to go on-stream during 2013. Under this agreement, Wison Engineering will provide engineering and construction services, Foster Wheeler will license the technology, and Clariant will supply the proprietary developed catalyst. The plant will be operated by Wison Engineering. The cooperation agreement also sets out a framework for long-term cooperation to deliver and build methanation plants in China based on VESTA technology. Foster Wheeler's VESTA SNG technology is a novel methanation technology designed to produce SNG from synthesis gas obtained from gasification of either coal or petroleum coke. The VESTA technology is based on once-through operation with no recirculation, avoiding expensive compressors. The technology is based on a maximum operating temperature of 550degC, avoiding any metal dusting formation and enabling relatively simple reactors to be used. The technology can operate with syngas from any commercial gasification technology. The VESTA technology is designed to be simple and safe to operate and to be implemented at a low total investment cost.

Foster Wheeler AG Presents at 2013 Credit Suisse Annual Engineering & Construction Conference, Jun-06-2013 08:20 AM. Venue: Credit Suisse Headquarters, 11 Madison Avenue, New York, New York, United States. Speakers: Jerry Kent Masters, Chief Executive Officer and Director.

Foster Wheeler AG announced that its Global Engineering and Construction Group has named Dave Lawson, as President and Global Leader of Metals & Mining, effective May 20, 2013. In this newly created role, Lawson will be responsible for developing and executing a growth strategy aimed at significantly increasing Foster Wheeler's presence in the metals and mining market. Immediately prior to joining Foster Wheeler, he was President of Minerals & Metals for Ausenco Ltd.