Foster Wheeler AG (formerly Foster Wheeler Inc.) was a Swiss global engineering conglomerate with its principal executive offices in Reading, UK[1] and its registered office in Baar, Canton of Zug, Switzerland.[2] Foster Wheeler was added to the NASDAQ-100 on 12 July 2007. On 13 November 2014 Foster Wheeler merged with Amec plc to form Amec Foster Wheeler. The resultant company was acquired by and merged into Wood Group in October 2017.[3]
Foster Wheeler was formed in 1927 from a merger of the Power Specialty Company (which replaced American Water Works Supply Company, created by Pell and Ernest Foster in 1884) and the Wheeler Condenser & Engineering Company, which was created by Frederick Merriam Wheeler[4] in 1891. It was originally based in New York City but later moved to Livingston, New Jersey and stayed there for nearly a quarter century before relocating to Clinton, New Jersey in 1987.[5][6] In 2000, Foster Wheeler moved its incorporation to Bermuda; in 2008, it moved its incorporation to Switzerland.[7][8]
The company was listed on the New York Stock Exchange in 1929.[9]
On 26 February 2008 Foster Wheeler Announced it had acquired Biokinetics.[10]
Foster Wheeler was acquired by AMEC plc in the second half of 2014 to form Amec Foster Wheeler.[11] The acquisition coincided with a downturn in the price of crude oil which depressed the market for services to the energy industry and left the merged company with substantial debt.[12][13][14] Amec Foster Wheeler was bought by and merged into Wood Group in October 2017.[15]
Operations
The company was focused on engineering, procurement, and construction management (EPC) contracting and power equipment supply. It comprised two business groups: a Global Engineering and Construction (E&C) Group and a Global Power Group.
Global E&C Group
The Global E&C Group designed, engineered and constructed leading-edge processing facilities and related infrastructure for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals & petrochemicals, pharmaceuticals, biotechnology & healthcare, environmental and power industries.
They owned technology in delayed coking, solvent de-asphalting, and hydrogen production processes. They also provided international environmental remediation services with related technical, engineering, design and regulatory services.
Global Power Group
The Global Power Group built, owned and operated cogeneration, independent power production, and waste-to-energy facilities as well as facilities for the process industries, providing electricity, steam, and feed stocks to industries and local grids.
^"Amec Foster Wheeler - International engineering and project management services". Retrieved 18 January 2016.
^"Contact Us:Corporate 2012-01-04 at the Wayback Machine." Foster Wheeler. Retrieved on December 30, 2011. "Foster Wheeler AG Lindenstrasse 10 6340 Baar, (Canton of Zug), Switzerland" and "Principal Executive Offices Foster Wheeler AG 80 Rue de Lausanne 1202 Geneva, Switzerland "
^"Wood Group completes takeover of Amec". BBC News. 2017-10-09. Retrieved 2020-04-30.
^Whittemore, Henry (1894). History of Montclair Township. NY: The Suburban Publishing Co. p. 270.
^Brian Swint (13 January 2014). "Amec Agrees to Acquire Foster Wheeler for $3.2 Billion". Bloomberg.com. Retrieved 18 January 2016.
^Thomas, Nathalie; Ward, Andrew; Massoudi, Arash (13 March 2017). "Wood Group offer comes just in time for Amec Foster Wheeler". Financial Times. Financial Times Ltd. Retrieved 5 December 2018.
^Armitage, Jim (21 April 2017). "Jim Armitage: Canny Neil Bruce has struck for Atkins at the right time". Evening Standard. Evening Standard Ltd. Retrieved 4 December 2018.
^Thomas, Nathalie; Ward, Andrew (13 March 2017). "Wood Group agrees to buy Amec Foster Wheeler for £2.2bn". Financial Times. FT Group. Retrieved 4 December 2018.
^. City AM. 9 October 2017. Archived from the original on 9 October 2017. Retrieved 9 October 2017.
External links
Foster Wheeler Corporate Web Site
Foster Wheeler Fonds, 1944-1980, RG 75-66 Brock University Library Digital Repository
March 11, 2023
foster, wheeler, formerly, swiss, global, engineering, conglomerate, with, principal, executive, offices, reading, registered, office, baar, canton, switzerland, added, nasdaq, july, 2007, november, 2014, merged, with, amec, form, amec, resultant, company, acq. Foster Wheeler AG formerly Foster Wheeler Inc was a Swiss global engineering conglomerate with its principal executive offices in Reading UK 1 and its registered office in Baar Canton of Zug Switzerland 2 Foster Wheeler was added to the NASDAQ 100 on 12 July 2007 On 13 November 2014 Foster Wheeler merged with Amec plc to form Amec Foster Wheeler The resultant company was acquired by and merged into Wood Group in October 2017 3 Foster Wheeler AGTypeSubsidiary of Amec Foster WheelerTraded asNasdaq FWLTIndustryEngineeringFounded1927Defunct2015HeadquartersBaar SwitzerlandKey peopleJ Kent Masters Chairman and CEORevenueUS 3 306 billion 2013 Number of employees13 311 December 2013 Websitewww fwc com Contents 1 History 2 Operations 2 1 Global E amp C Group 2 2 Global Power Group 3 See also 4 References 5 External linksHistory EditFoster Wheeler was formed in 1927 from a merger of the Power Specialty Company which replaced American Water Works Supply Company created by Pell and Ernest Foster in 1884 and the Wheeler Condenser amp Engineering Company which was created by Frederick Merriam Wheeler 4 in 1891 It was originally based in New York City but later moved to Livingston New Jersey and stayed there for nearly a quarter century before relocating to Clinton New Jersey in 1987 5 6 In 2000 Foster Wheeler moved its incorporation to Bermuda in 2008 it moved its incorporation to Switzerland 7 8 The company was listed on the New York Stock Exchange in 1929 9 On 26 February 2008 Foster Wheeler Announced it had acquired Biokinetics 10 Foster Wheeler was acquired by AMEC plc in the second half of 2014 to form Amec Foster Wheeler 11 The acquisition coincided with a downturn in the price of crude oil which depressed the market for services to the energy industry and left the merged company with substantial debt 12 13 14 Amec Foster Wheeler was bought by and merged into Wood Group in October 2017 15 Operations EditThe company was focused on engineering procurement and construction management EPC contracting and power equipment supply It comprised two business groups a Global Engineering and Construction E amp C Group and a Global Power Group Global E amp C Group Edit The Global E amp C Group designed engineered and constructed leading edge processing facilities and related infrastructure for the upstream oil and gas LNG and gas to liquids refining chemicals amp petrochemicals pharmaceuticals biotechnology amp healthcare environmental and power industries They owned technology in delayed coking solvent de asphalting and hydrogen production processes They also provided international environmental remediation services with related technical engineering design and regulatory services Global Power Group Edit The Global Power Group built owned and operated cogeneration independent power production and waste to energy facilities as well as facilities for the process industries providing electricity steam and feed stocks to industries and local grids See also Edit Switzerland portal New Jersey portal Companies portal Energy portalList of oilfield service companiesReferences Edit Amec Foster Wheeler International engineering and project management services Retrieved 18 January 2016 Contact Us Corporate Archived 2012 01 04 at the Wayback Machine Foster Wheeler Retrieved on December 30 2011 Foster Wheeler AG Lindenstrasse 10 6340 Baar Canton of Zug Switzerland and Principal Executive Offices Foster Wheeler AG 80 Rue de Lausanne 1202 Geneva Switzerland Wood Group completes takeover of Amec BBC News 2017 10 09 Retrieved 2020 04 30 Whittemore Henry 1894 History of Montclair Township NY The Suburban Publishing Co p 270 Foster Wheeler Funding Universe History of Foster Wheeler Corporation FundingUniverse Retrieved 18 January 2016 Johnston David Cay 2000 11 30 Foster Wheeler to Establish Base in Bermuda The New York Times ISSN 0362 4331 Retrieved 2015 06 17 Foster Wheeler Plans Reincorporation in Switzerland Update4 Bloomberg Bloomberg News Retrieved 2015 06 17 The Stocks That Survived 1929 CNBC 27 October 2008 Retrieved 15 August 2016 CapEQ Foster Wheeler acquires Biokinetics Business Sale CapEQ Retrieved 2022 01 25 a href Template Cite web html title Template Cite web cite web a CS1 maint url status link Brian Swint 13 January 2014 Amec Agrees to Acquire Foster Wheeler for 3 2 Billion Bloomberg com Retrieved 18 January 2016 Thomas Nathalie Ward Andrew Massoudi Arash 13 March 2017 Wood Group offer comes just in time for Amec Foster Wheeler Financial Times Financial Times Ltd Retrieved 5 December 2018 Armitage Jim 21 April 2017 Jim Armitage Canny Neil Bruce has struck for Atkins at the right time Evening Standard Evening Standard Ltd Retrieved 4 December 2018 Thomas Nathalie Ward Andrew 13 March 2017 Wood Group agrees to buy Amec Foster Wheeler for 2 2bn Financial Times FT Group Retrieved 4 December 2018 Wood Group completes 2 2bn takeover of Amec Foster Wheeler City AM 9 October 2017 Archived from the original on 9 October 2017 Retrieved 9 October 2017 External links EditFoster Wheeler Corporate Web Site Foster Wheeler Fonds 1944 1980 RG 75 66 Brock University Library Digital Repository Retrieved from https en wikipedia org w index php title Foster Wheeler amp oldid 1122463461, wikipedia, wiki, book, books, library,
