Foster Wheeler Awarded Contract for Incinerator in Vietnam

  Foster Wheeler Awarded Contract for Incinerator in Vietnam

Business Wire

ZUG, Switzerland -- April 14, 2014

Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its
Global Engineering and Construction Group has been awarded a contract for the
design and supply of a carbon monoxide (CO) incinerator package for a residue
fluidized catalytic cracker. The contract was awarded by JGC Corporation (UK)
Ltd, which is acting on behalf of the engineering, procurement and
construction consortium for the US$9 billion Nghi Son Refinery and
Petrochemical complex to be constructed in the Nghi Son Economic Zone, Thanh
Hoa Province, Socialist Republic of Vietnam.

The Foster Wheeler contract value was not disclosed and will be included in
the company’s first-quarter 2014 bookings.

Foster Wheeler will design the incinerator in accordance with the CO emissions
requirements of the new complex. The CO incinerator is expected to be shipped
FOB (free on board) as one single module during the second quarter of 2015.

“This award reinforces Foster Wheeler’s position as a leading supplier of CO
incinerator technology,” said Roberto Penno, Chief Executive Officer of Foster
Wheeler’s Global E&C Group. “Supplying this equipment as a single module
reduces field construction time, delivering major safety and schedule
benefits. The incinerator will also be designed to help meet the low emissions
targets of the new complex. This is a very important second award for this
complex in Vietnam for our UK Fired Heater Division, and follows the first
award, in 2013, of two Terrace Wall™ hydrogen reformers.”

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

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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.


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