Foster Wheeler Enters into License Agreement In China

Foster Wheeler Ltd's subsidiary Foster Wheeler North America Corp., a unit of the Global Power Group, has entered into a fifteen-year agreement with Wuxi Huaguang Boiler Co., Ltd. ("Wuxi") to provide a technology license for subcritical pressure circulating fluidized-bed (CFB) steam generators to be sold in China. The agreement also contemplates Foster Wheeler utilizing Wuxi as a major supplier for projects located outside of China.

With installed capacity exceeding 13,500 electric megawatts (MWe) worldwide, Foster Wheeler's state-of-the-art CFB technology and overall steam generator design "know-how" offers China's growing power market a proven and cost-effective solution for the control of pollutant emissions in medium-to-large scale utility-size steam generators.

"This license agreement opens up additional markets for Foster Wheeler in China and further reinforces Foster Wheeler's overall capability and cost-competitiveness for projects in China, Asia and worldwide," said David J. Parham, executive vice president, Global Sales and Marketing, Foster Wheeler Global Power Group. "This is a strategically important agreement for both companies. We have been working successfully with Wuxi Huaguang for ten years, during which time it has been a primary subcontractor to Foster Wheeler for projects in China and worldwide. Wuxi Huaguang Boiler is a recognized presence in the power industry in China, having placed over 32,000 MWe of capacity in service over the last ten years."

"We are delighted that Wuxi Huaguang Boiler will become one of the leading CFB boiler manufacturers in China through this technology cooperation with Foster Wheeler," said HeXuLiang, president of Wuxi Huaguang Boiler.

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Posted 18/09/06

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