Foster Wheeler awarded contract for new blending plant in Belgium by Kuwait Petroleum International Lubricants
Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by KuwaitPetroleum International Lubricants for the provision of detailed engineering services for a brownfield lube oil blending plant to be built at Kuwait Petroleum's facility at Antwerp, Belgium.
- (1888PressRelease) December 23, 2010 - The lube oil blending plant will be designed to substantially enhance the ability of the Antwerp facility to operate at European scale by increasing the production capacity from 125 million to 250 million liters per year. The detailed engineering activities will be completed by mid 2011.
Kuwait Petroleum International Lubricants is increasing the plant's capacity to keep pace with the growth of its Q8Oils and Roloil branded business and to give it the option of toll blending for other companies.
The value of Foster Wheeler's contract was not disclosed and was included in the company's third-quarter 2010 bookings.
"Their excellent reputation and world-wide experience led us to award this contract to Foster Wheeler," said Giuliano Franzi, Managing Director, Kuwait Petroleum International Lubricants. "We are confident that the implementation of our project will be a success."
Foster Wheeler AG is a global engineering and construction contractor 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, 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
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Foster Wheeler AG
Julie Stanisz, +1-908-730-4047
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Cristiana Monti, +39-02-4486-2135
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Scott Lamb, +1-908-730-4155
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