Contract Awarded to Foster Wheeler by Kuwait Petroleum in The Netherlands.
HAMILTON, Bermuda--(BUSINESS WIRE)--Sept. 23, 2002
Foster Wheeler Ltd. (NYSE:FWC) announced today that its Milan-based subsidiary, Foster Wheeler Italiana S.p.A., has been awarded a contract by Kuwait Petroleum Europoort for the revamp of a vacuum unit and some hydrodesulfurization units at its refinery at Europoort, near Rotterdam, The Netherlands.
The contract calls for Foster Wheeler to provide engineering, procurement, construction management and supervision (EPCm) services. Work on the project has already begun and is scheduled for completion in autumn 2003.
"Foster Wheeler has executed many projects in the past 30 years for Kuwait Petroleum and this is the latest in a series we have done for Kuwait Petroleum Europoort," said Umberto della Sala, president and CEO of Foster Wheeler Continental Europe. "The revamp work will enable the refinery to operate more efficiently and also meet the European Union's more stringent specifications on diesel fuel."
Notes to Editors: 1. Foster Wheeler Ltd. is a global company offering, through its subsidiaries, a broad range of design, engineering, construction, manufacturing, project development and management, research, plant operation and environmental services. The corporation is based in Hamilton, Bermuda, and its operational headquarters are in Clinton, N.J. For more information about Foster Wheeler, visit our World Wide Web site at www.fwc.com. 2. Safe Harbor Statement This news release contains forward-looking statements that are based on management's assumptions, expectations and projections about the various industries within which the corporation operates. Such forward-looking statements, by their nature, involve a degree of risk and uncertainty. The corporation cautions that a variety of factors, including but not limited to the following, could cause business conditions and results to differ materially from what is contained in forward-looking statements: changes in the rate of economic growth in the United States and other major international economies, changes in investment by the energy, power and environmental industries, changes in regulatory environment, changes in project schedules, changes in trade, monetary and fiscal policies worldwide, currency fluctuations, outcomes of pending and future litigation, protection and validity of patents and other intellectual property rights, and increasing competition by foreign and domestic companies.
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|Date:||Sep 23, 2002|
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