By a News Reporter-Staff News Editor at Journal of Engineering -- Foster Wheeler AG (Nasdaq:FWLT) announced that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement and construction management contract by Owens Corning for a new composite materials manufacturing facility at Gastonia, North Carolina. The plant will produce a paper-like glass-fiber tissue that is used in various industries to add strength to products while also reducing their weight.
Foster Wheeler's contract value was not disclosed. The engineering, procurement and early construction work was included in the company's first-quarter 2014 bookings and the balance of the construction management scope is expected to be released later in 2014.
"We are very pleased to have been awarded this contract by Owens Corning," said Roberto Penno, Chief Executive Officer, Foster Wheeler Global Engineering and Construction Group. "This project will be executed by our Cary, NC, team, part of our Process & Industrial (P&I) Division in the U.S. This award reflects the strong relationship our P&I Division has developed with Owens Corning."
Foster Wheeler's scope of work is expected to be completed by the end of 2015.
Keywords for this news article include: Engineering, Foster Wheeler AG.
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