Foster Wheeler signs services agreement with Valero Refinery in the UK

Source:Foster Wheeler AG

Foster Wheeler will provide home office front-end engineering design and detailed engineering design services to support new development at the Pembroke Refinery.

Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has signed an evergreen agreement with Valero Energy Ltd (Valero) for the provision of home office engineering and project support services to Valero’s Pembroke Refinery and other facilities in the UK.

The terms of the agreement were not disclosed and bookings will be recorded as work is released by Valero.

Foster Wheeler will provide home office front-end engineering design and detailed engineering design services to support new development and modification projects at the Pembroke Refinery and other facilities. Foster Wheeler will also provide other support services including project control and cost estimating. Valero acquired the Pembroke refinery in 2011.

“We know this refinery well, having executed projects for the refinery since the 1980s,” said Umberto della Sala, President and Chief Operating Officer of Foster Wheeler AG. “The combination of our knowledge of the refinery, together with our in-depth refining expertise, particularly in revamp projects, and our flexible and responsive team, give us an excellent opportunity to build a strong, long-term relationship in the UK with Valero. We have already successfully executed projects for Valero elsewhere, particularly in the US.”

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 13,000 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 Reading, United Kingdom. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.

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