Foster Wheeler Expands its Chinese Boiler Manufacturing Facility

Foster Wheeler Ltd's Chinese subsidiary Foster Wheeler Power Machinery Company Limited has embarked on a $3.5 million expansion at its highly successful boiler pressure parts manufacturing facility at Xinhui, Guangdong Province. Local Chinese banks are financing a substantial portion of the cost of the expansion with the balance being funded from FWPMCL's own cash resources.

FWPMCL is a Foster Wheeler majority-owned joint venture with China Huadian Engineering Co., Ltd., Guangdong Electric Power Industry Development Company, and Jiangmen Da Guang Ming Power Enterprise Group Co., Ltd. FWPMCL, which is a Chinese Grade A licensed facility, received a "Technologically Advanced Foreign Invested Enterprise" award from the Commission of Foreign Trade and Economic Cooperation of Guangdong Province in 2005.

"This is a strategic investment for Foster Wheeler," said Bernard H. Cherry, chief executive officer, Foster Wheeler Global Power Group. "Our state-of-the-art Xinhui facility has been producing boiler pressure parts since it was completed in 1997 and has earned a reputation for achieving world-class quality and on-time delivery. It has enabled us to offer highly competitive value-added solutions to address the new boiler and aftermarket services markets in North America, China and Asia. We are expanding its capacity by 40 percent, taking its total capacity up to one million man-hours per year, to support these rapidly growing markets, particularly for state-of-the-art circulating fluidized-bed boilers."

Construction is underway and operation of the new production bay is planned to start in August 2006.

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Posted 13/02/06

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