Foster Wheeler Enters into License Agreement for CFB Steam Generator Technology

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 Doosan Heavy Industries & Construction Co., Ltd. ("Doosan") to provide a technology license for subcritical pressure circulating fluidized-bed (CFB) steam generator projects in Korea, the Indian subcontinent and certain other regions. The agreement also contemplates Foster Wheeler collaborating with Doosan on certain engineering, procurement, and construction opportunities.

As a pioneer in the commercial use of fluidized-bed technology, Foster Wheeler has maintained its leadership with its innovative designs for CFB steam generators. Foster Wheeler's leading CFB technology offers Doosan a flexible option for the clean combustion of a wide variety of fuels in the growing power markets in which they will participate.

"This agreement opens up additional markets for Foster Wheeler in Korea, India and elsewhere in Asia and reinforces our overall capability and cost-competitiveness for projects worldwide," said David J. Parham, executive vice president, Global Sales and Marketing, Foster Wheeler Global Power Group. "This agreement is of strategic importance to both Foster Wheeler and Doosan Heavy Industries & Construction Co., Ltd."

Doosan Heavy Industries & Construction Co., Ltd. is a leading global Engineering, Procurement and Construction contractor for power plants and the world leader in desalination plant construction, as well as a supplier of major components and equipment for nuclear, thermal and hydro-electric power industries. Doosan Heavy Industries & Construction Co., Ltd. has built over 300 nuclear, thermal, combined-cycle and hydro power plants and is currently building more than 60 power plants in Korea, China and other countries.

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Posted 25/09/06

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