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Foster Wheeler undertake FEED for the expansion of Huntsmans Isocyanates Facility

April 04/2011

(BUSINESS WIRE) -- Foster Wheeler AG (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group has received a contract from Huntsman (Europe) BVBA to undertake the front-end engineering design (FEED) for the expansion of Huntsmans Isocyanates Facility at Caojing, in Shanghai, Peoples Republic of China. Isocyanates are used in the production of polyurethanes which have a wide range of uses in the plastics industry.

The Foster Wheeler contract value for this project was not disclosed and will be included in the companys first-quarter 2011 bookings.

Foster Wheelers scope will include front-end engineering, technology licensor management and development of the project schedule and cost estimates. The FEED phase of the project is scheduled for completion in the third quarter of this year, with the overall project scheduled for mechanical completion by the fourth-quarter of 2013.

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