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.”
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, minerals and metals, environmental, pharmaceuticals, biotechnology and healthcare industries. The company’s Global Power Groupis 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.