Foster Wheeler Awarded Basic Engineering Contract

Foster Wheeler AG

announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract for basic engineering for the Squaw Gulch ADR2 project, a new adsorption, desorption and recovery (ADR) facility at AngloGold Ashanti (Colorado) Corp.'s Cripple Creek and Victor Gold Mining Company's site in Teller, Colorado, U.S. Foster Wheeler's contract value was not disclosed and will be included in the company's first-quarter 2014 bookings. Foster Wheeler's scope of work is scheduled for completion in the third quarter of 2014. “This is an important first win with AngloGold Ashanti, a major gold producer,” said Dave Lawson, Foster Wheeler's President and Chief Executive Officer – Minerals and Metals. “This is also our second win with a gold-producing client. Along with our 2013 contract win to provide EPC and related services for a grassroots molybdenum refinery in Chile, this latest award demonstrates our strategy to build our position with major global producers and to extend the range of minerals and metals in which we are successfully winning business.” 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 Group is 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. For more information about Foster Wheeler, please visit our website at www.fwc.com.