Foster Wheeler AG (formerly Foster Wheeler Inc.) was a Swiss global engineering conglomerate with its principal executive offices in
Reading
Reading is the process of taking in the sense or meaning of letters, symbols, etc., especially by sight or touch.
For educators and researchers, reading is a multifaceted process involving such areas as word recognition, orthography (spell ...
,
UK and its registered office in
Baar,
Canton of Zug, Switzerland. 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.
History
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 in 1891. It was originally based in
New York City
New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...
but later moved to
Livingston, New Jersey and stayed there for nearly a quarter century before relocating to
Clinton, New Jersey
Clinton is a town in Hunterdon County, New Jersey. It is located on the South Branch of the Raritan River in the Raritan Valley region. As of the 2020 U.S. census, the town's population was 2,719,[Bermuda
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; in 2008, it moved its incorporation to
Switzerland
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.
The company was listed on the New York Stock Exchange in 1929.
On 26 February 2008 Foster Wheeler Announced it had acquired Biokinetics.
Foster Wheeler was acquired by AMEC plc in the second half of 2014 to form
Amec Foster Wheeler. 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. Amec Foster Wheeler was bought by and merged into
Wood Group in October 2017.
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
Upstream may refer to:
* Upstream (bioprocess)
* ''Upstream'' (film), a 1927 film by John Ford
* Upstream (networking)
* ''Upstream'' (newspaper), a newspaper covering the oil and gas industry
* Upstream (petroleum industry)
* Upstream (software ...
oil and gas,
LNG and gas-to-liquids, refining, chemicals & petrochemicals, pharmaceuticals,
biotechnology
Biotechnology is the integration of natural sciences and engineering sciences in order to achieve the application of organisms, cells, parts thereof and molecular analogues for products and services. The term ''biotechnology'' was first used ...
& 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
Cogeneration or combined heat and power (CHP) is the use of a heat engine or power station to generate electricity and useful heat at the same time.
Cogeneration is a more efficient use of fuel or heat, because otherwise- wasted heat from elec ...
, 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
*
List of oilfield service companies
References
External links
Foster Wheeler Corporate Web SiteFoster Wheeler Fonds, 1944-1980, RG 75-66Brock University Library Digital Repository
{{Authority control
Energy engineering and contractor companies
Engineering companies of Switzerland
Construction and civil engineering companies established in 1927
2014 mergers and acquisitions
Companies formerly listed on the Nasdaq
Swiss companies established in 1927
Swiss companies disestablished in 2014
Canton of Zug