Foster Wheeler AG (formerly Foster Wheeler Inc.) was a Swiss global engineering conglomerate with its principal executive offices in

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, 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

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; in 2008, it moved its incorporation to

Switzerland ). Swiss law does not designate a ''capital'' as such, but the federal parliament and government are installed in Bern, while other federal institutions, such as the federal courts, are in other cities (Bellinzona, Lausanne, Luzern, Neuchâtel ...

. 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

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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.

References

External links