Foster Wheeler AG : Foster Wheeler Asia Pacific Awarded International Headquarters Award by the Singapore Economic Development Board
04/11/2012| 07:35am US/Eastern
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Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of
its Global Engineering and Construction Group, Foster Wheeler Asia
Pacific, has been conferred the International Headquarters Award by the
Singapore Economic Development Board (EDB). Foster Wheeler Asia Pacific
has a track record of over 40 years of safe and successful project
execution in Singapore, and the wider region.
The EDB is the lead government agency for planning and executing
strategies to enhance Singapore's position as a global business center.
Its Headquarters Programme encourages companies to use Singapore as a
base for conducting headquarters management activities to oversee,
manage and control their regional and global operations and businesses.
This prestigious International Headquarters Award, the highest level of
award available under the Headquarters Programme, recognizes the
significant growth and development of Foster Wheeler Asia Pacific, which
has successfully managed many high-quality projects in the region from
its Singapore headquarters.
Foster Wheeler AG is a global engineering and construction company and
power equipment supplier delivering technically advanced, reliable
facilities and equipment. The company employs approximately 12,000
talented professionals with specialized expertise dedicated to serving
its clients through one of its two primary business groups. The
company's Global Engineering and Construction Group designs and
constructs leading-edge processing facilities for the upstream oil and
gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals,
power, mining and metals, environmental, pharmaceuticals, biotechnology
and healthcare industries. The company's Global Power Group is a world
leader in combustion and steam generation technology that designs,
manufactures and erects steam generating and auxiliary equipment for
power stations and industrial facilities and also provides a wide range
of aftermarket services. The company is based in Zug, Switzerland, and
its operational headquarters office is in Geneva, Switzerland. For more
information about Foster Wheeler, please visit our Web site at www.fwc.com.
Safe Harbor Statement
Foster Wheeler AG news releases may contain forward-looking statements
that are based on management's assumptions, expectations and projections
about the Company and the various industries within which the Company
operates. These include statements regarding the Company's expectations
about revenues (including as expressed by its backlog), its liquidity,
the outcome of litigation and legal proceedings and recoveries from
customers for claims and the costs of current and future asbestos claims
and the amount and timing of related insurance recoveries. Such
forward-looking statements by their nature involve a degree of risk and
uncertainty. The Company cautions that a variety of factors, including
but not limited to the factors described in the Company's most recent
Annual Report on Form 10-K, which was filed with the U.S. Securities and
Exchange Commission and the following, could cause the Company's
business conditions and results to differ materially from what is
contained in forward-looking statements: benefits, effects or results of
the Company's redomestication or the relocation of our principal
executive offices to Geneva, Switzerland; the benefits, effects or
results of our strategic renewal initiative; further deterioration in
global economic conditions, changes in investment by the oil and gas,
oil refining, chemical/petrochemical and power generation industries,
changes in the financial condition of its customers, changes in
regulatory environments, changes in project design or schedules,
contract cancellations, changes in estimates made by the Company of
costs to complete projects, changes in trade, monetary and fiscal
policies worldwide, compliance with laws and regulations relating to its
global operations, currency fluctuations, war, terrorist attacks and/or
natural disasters affecting facilities either owned by the Company or
where equipment or services are or may be provided by the Company,
interruptions to shipping lanes or other methods of transit, outcomes of
pending and future litigation, including litigation regarding the
Company's liability for damages and insurance coverage for asbestos
exposure, protection and validity of its patents and other intellectual
property rights, increasing global competition, compliance with its debt
covenants, recoverability of claims against its customers and others by
the Company and claims by third parties against the Company, and changes
in estimates used in its critical accounting policies. Other factors and
assumptions not identified above were also involved in the formation of
these forward-looking statements and the failure of such other
assumptions to be realized, as well as other factors, may also cause
actual results to differ materially from those projected. Most of these
factors are difficult to predict accurately and are generally beyond the
Company's control. You should consider the areas of risk described above
in connection with any forward-looking statements that may be made by
the Company. The Company undertakes no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future events or otherwise. You are advised, however, to consult any
additional disclosures the Company makes in proxy statements, quarterly
reports on Form 10-Q, annual reports on Form 10-K and current reports on
Form 8-K filed or furnished with the Securities and Exchange Commission.
Foster Wheeler AG
Media:
United States
Julie
Stanisz, 908-730-4047
julie_stanisz@fwc.com
or
Investor
Relations
Scott Lamb, 908-730-4155
scott_lamb@fwc.com
or
Other
Inquiries
908-730-4000
fw@fwc.com
© Business Wire 2012
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