Foster Wheeler Awarded EPCm Contract in China for World’s Largest EPDM Rubber Facility

  Foster Wheeler Awarded EPCm Contract in China for World’s Largest EPDM
  Rubber Facility

Business Wire

ZUG, Switzerland -- November 26, 2012

Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its
Global Engineering and Construction Group has been awarded an engineering,
procurement and construction management (EPCm) contract by LANXESS Changzhou
Co., Ltd for a new ethylene propylene diene monomer (EPDM) rubber plant to be
built at the Changzhou Yangtze Riverside Industrial Park at Changzhou, Jiangsu
Province, in the People’s Republic of China. Foster Wheeler is currently
executing the front-end engineering design (FEED) for this facility.

The Foster Wheeler contract value for this project was not disclosed and was
included in the company’s third-quarter 2012 bookings.

The new facility will be designed to produce 160,000 tonnes per annum of EPDM
rubber. The plant is expected to start up in 2015. LANXESS, a leading
specialty chemicals company headquartered in Germany, states that this new
plant, which it describes as the largest EPDM rubber facility in the world, is
its largest investment in China to date.

EPDM is used primarily in the automotive industry as door sealants or
windscreen wipers. It is also used in the plastics modification, cable and
wire, construction and oil additives industries.

“This latest win further demonstrates the value LANXESS places on the quality
of our people and its confidence in our performance in delivering LANXESS’
projects safely and successfully,” said Umberto della Sala, Chief Operating
Officer, Foster Wheeler AG. “Foster Wheeler is working as the EPCm contractor
on three of LANXESS’ major projects in Asia.”

Foster Wheeler AG is a global engineering and construction company and power
equipment supplier delivering technically advanced, reliable facilities and
equipment. The company employs approximately 12,000 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, mining and metals, 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 office is in Geneva, Switzerland. For more
information about Foster Wheeler, please visit our Web site at www.fwc.com.

LANXESS is a leading specialty chemicals company with sales of EUR 8.8 billion
in 2011 and currently around 17,100 employees in 31 countries. The company is
currently represented at 49 production sites worldwide. The core business of
LANXESS is the development, manufacturing and marketing of plastics, rubber,
intermediates and specialty chemicals. LANXESS is a member of the leading
sustainable indices Dow Jones Sustainability Index (DJSI) World and FTSE4Good.

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Company’s business conditions and results to differ materially from what is
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of such other assumptions to be realized, as well as other factors, may also
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Contact:

Foster Wheeler AG
Media Contacts:
United States
Julie Stanisz, 908 730-4047
julie_stanisz@fwc.com
or
Investor Relations
Scott Lamb, 908 730-4155
scott_lamb@fwc.com
or
Other Inquiries
908 730-4000
fw@fwc.com
 
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