Foster Wheeler Receives Contract for Two Pulverized Coal Steam Generators in Vietnam

  Foster Wheeler Receives Contract for Two Pulverized Coal Steam Generators in   Vietnam  Business Wire  ZUG, Switzerland -- April 7, 2014  Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Power Group has been awarded a contract by Marubeni Corporation for the design and supply of two pulverized coal arch fired steam generators to be installed at the Thai Binh Thermal Power Station for Vietnam Electricity (EVN). The project is located in Thai Binh Province in Vietnam.  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 bookings for the first-quarter of 2014. Commercial operation of unit 1 is scheduled for October 2017 and unit 2 is scheduled for April 2018.  Foster Wheeler will design and supply two 300 MWe (gross megawatt electric) steam generators and auxiliary equipment for the boiler islands. The boilers will be designed to burn local Vietnamese anthracite coal while meeting applicable environmental requirements.  “Our advanced arch-combustion technology is designed for stability and low emissions while optimizing combustion efficiency,” said Gary Nedelka, Chief Executive Officer of Foster Wheeler Global Power Group. “We are pleased to again be selected to work with Marubeni on such an important project in meeting the increasing power demands of Vietnam.”  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 13,000 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, minerals 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 Reading, United Kingdom. For more information about Foster Wheeler, please visit our website at www.fwc.com.  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The Company cautions that a variety of factors, including but not limited to the factors described in the Company’s most recent Annual Report on Form 10-K, which was filed with the U.S. Securities and Exchange Commission, and the following, could cause the Company’s business conditions and results to differ materially from what is contained in forward-looking statements including: the timing and success of the proposed offer and acquisition of the Company by AMEC plc, the risk that the Company’s business will be adversely impacted during the pending proposed offer and acquisition of the Company by AMEC plc, benefits, effects or results of the Company’s redomestication to Switzerland, deterioration in global economic conditions, changes in investment by the oil and gas, oil refining, chemical/petrochemical and power generation industries, changes in the financial condition of its customers, changes in regulatory environments, changes in project design or schedules, contract cancellations, the changes in estimates made by the Company of costs to complete projects, changes in trade, monetary and fiscal policies worldwide, compliance with laws and regulations relating to the Company’s global operations, currency fluctuations, war, terrorist attacks and/or natural disasters affecting facilities either owned by the Company or where equipment or services are or may be provided by the Company, interruptions to shipping lanes or other methods of transit, outcomes of pending and future litigation, including litigation regarding the Company’s liability for damages and insurance coverage for asbestos exposure, protection and validity of the Company’s patents and other intellectual property rights, increasing global competition, compliance with its debt covenants, recoverability of claims against the Company’s customers and others by the Company and claims by third parties against the Company, and changes in estimates used in its critical accounting policies. Other factors and assumptions not identified above were also involved in the formation of these forward-looking statements and the failure of such other assumptions to be realized, as well as other factors, may also cause actual results to differ materially from those projected. Most of these factors are difficult to predict accurately and are generally beyond the Company’s control. You should consider the areas of risk described above in connection with any forward-looking statements that may be made by the Company. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any additional disclosures the Company makes in proxy statements, quarterly reports on Form 10-Q, annual reports on Form 10-K and current reports on Form 8-K filed with or furnished to the Securities and Exchange Commission.  Contact:  Foster Wheeler AG Media: United States Patti Landsperger, +1 908-713-2944 patti_landsperger@fwc.com or Jan Rogers, +1 908-713-3288 jan_rogers@fwc.com or Investor Relations Scott Lamb, +1 908-730-4155 scott_lamb@fwc.com or Other Inquiries +1 908-730-4000 fw@fwc.com