Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has signed an alliance agreement with OMV to provide integrated project management and engineering, procurement and construction management services.
Under this five-year agreement, Foster Wheeler will provide services on privileged basis for the OMV refineries located in Burghausen (Germany) and Schwechat (Austria). The services to be supplied by Foster Wheeler, through specific work orders, include front-end loading for projects of any size as well as engineering, procurement and construction management services for projects up to a specified threshold limit with respect to Total Installed Cost.
Bookings will be made as specific work orders are released by OMV.
“By consistently delivering safe and successful projects for OMV, we have established the right basis for a longer-term relationship with our client,” said Roberto Penno, Chief Executive Officer, Foster Wheeler Global Engineering and Construction Group. “We are very pleased to have signed this five-year agreement. It reinforces the excellent working relationship that Foster Wheeler has established with OMV over a number of years across a number of its European assets.”