Foster Wheeler Awarded Contract for Circulating Fluidized-Bed Steam Generator in the Philippines

  Foster Wheeler Awarded Contract for Circulating Fluidized-Bed Steam
  Generator in the Philippines

Business Wire

ZUG, Switzerland -- February 28, 2013

Foster Wheeler AG (Nasdaq: FWLT) announced today 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.

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. Commercial operation of
the new steam generator is scheduled for 2015.

Foster Wheeler will design and supply the 100 MWe (net megawatt electric) CFB
steam generator plus auxiliary equipment for the project which is located in
the province of Sarangani on Southern Mindanao, Philippines. The CFB steam
generator will be designed to burn coal while meeting applicable environmental
regulatory requirements.

“We appreciate the opportunity to showcase our fuel-flexible and
environmentally friendly CFB which will provide power to the local residents
in the Philippines,” said Gary Nedelka, Chief Executive Officer of Foster
Wheeler’s Global Power Group. “Foster Wheeler’s CFB technology is an important
part of the solution to meet energy needs while addressing environmental

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

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advised, however, to consult any additional disclosures the Company makes in
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and current reports on Form 8-K filed or furnished with the Securities and
Exchange Commission.


Foster Wheeler AG
Julie Stanisz, 908-730-4047
Jan Rogers, 908-713-3288
Investor Relations
Scott Lamb, 908-730-4155
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