Foster Wheeler Awarded Contract for Terrace Wall Steam Reformer Heater in Kazakhstan

  Foster Wheeler Awarded Contract for Terrace Wall Steam Reformer Heater in
  Kazakhstan

Business Wire

ZUG, Switzerland -- May 28, 2014

Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its
Global Engineering and Construction Group has been awarded a contract by
Marubeni Corporation for the engineering and material supply of a new Terrace
Wall ^ steam reformer heater, including an air preheating system, for the
KazMunayGaz oil refinery located at Atyrau, Republic of Kazakhstan.

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

The steam reformer will be part of a hydrogen production unit with a capacity
of 24,000 normal cubic meters per hour to be built at the refinery. The
hydrogen plant is based on Foster Wheeler’s hydrogen technology. Foster
Wheeler’s scope of work is scheduled to be completed in April 2015.

Foster Wheeler's Terrace Wall reformer is characterized by a firing
arrangement and sloped-wall radiant section design that, together, enable long
catalyst tube life (often in excess of 100,000 hours) and deliver the
flexibility to extend a reformer's operating envelope. This often allows
production of hydrogen in excess of the design capacity of the hydrogen
production unit, which may in turn deliver additional economic benefits.
Foster Wheeler's reformers can operate with ultra-low-NOx burners to meet
tightening environmental emission standards worldwide. Foster Wheeler has
supplied over 200 Terrace Wall steam reformers to the refining and
petrochemical industries in more than 40 countries worldwide.

The contract was awarded by Marubeni on behalf of the SINOPEC Engineering
(Group)/Marubeni/KazStroyService consortium executing the engineering,
procurement and construction of the refinery modernization project.

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.

Safe Harbor Statement

Foster Wheeler AG news releases may contain forward-looking statements that
are based on management’s assumptions, expectations and projections about the
Company and the various industries within which the Company operates. These
include statements regarding the Company’s expectations about revenues
(including as expressed by its backlog), its liquidity, the outcome of
litigation and legal proceedings and recoveries from customers for claims and
the costs of current and future asbestos claims and the amount and timing of
related insurance recoveries. Such forward-looking statements by their nature
involve a degree of risk and uncertainty. 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 for the year ended December
31, 2013, which was filed with the U.S. Securities and Exchange Commission on
February 27, 2014, 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:

Media:
United States
Patti Landsperger, +1 908-713-2944
patti_landsperger@fwc.com
or
Italy
Cristiana Monti, +39 02 4486 2135
cristiana_monti@fwceu.com
or
Investor Relations
Scott Lamb, +1 908-730-4155
scott_lamb@fwc.com
or
Other Inquiries
+1 908-730-4000
fw@fwc.com
 
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