|Headquarters||Geneva, Switzerland (incorporation)|
Clinton, New Jersey, U.S.(operational)
|Key people||Robert Flexon, CEO|
Foster Wheeler (NASDAQ: FWLT) is a global conglomerate incorporated in Switzerland and with its principal executive offices in New Jersey. It is focused on Engineering, Procurement, and Construction (EPC) and on power. The present company, Foster Wheeler Corporation, was formed in 1927 from a merger of the Power Speciality Company (which replaced Water Works Supply Company, created by the Foster family in 1884) and the Wheeler Condenser & Engineering Company, whose roots go back to 1891. The corporate headquarters were originally in New York City but later moved to Livingston, New Jersey and stayed there for nearly a quarter century before relocating to Clinton, New Jersey in 1987.
The company comprises two business groups:
1. The Global Engineering and Construction (E&C) Group
2. The Global Power Group
The E&C Group
The Global E&C Group designs, engineers and constructs leading-edge processing facilities and related infrastructure for the upstream oil & gas, LNG and gas-to-liquids, refining, chemicals & petrochemicals, pharmaceuticals, biotechnology & healthcare, environmental and power industries.
They own industry-leading technology in delayed coking, solvent de-asphalting and hydrogen production processes, and have access to numerous technologies owned by others. They also provide international environmental remediation services with related technical, engineering, design and regulatory services.
Umberto Della Sala is the present CEO of the Global E&C Group.
The Power Group
The Global Power Group offers advanced, cost-effective and environmentally friendly energy solutions to customers around the world. They build, own and operate cogeneration, independent power production and waste-to-energy facilities, as well as facilities for the process industries, providing electricity, steam and feed stocks to industries and local grids.
Umberto della Sala is now the temporary CEO of Foster Wheeler.
Foster Wheeler was added to the NASDAQ-100 on July 12, 2007.
Foster Wheeler had operating revenues of over $5.1 billion in 2007. Their performance was recognized in February 2008 when The Wall Street Journal cited Foster Wheeler as the best three-year performer and among the top ten one-year performers in that periodical’s annual “shareholder scorecard.”
Foster Wheeler holds the license for many petroleum and petrochemical processes and is one of the largest employers of Chemical Engineers.
Main Offices are in Reading, Berkshire, Milan, Paris, Madrid, Clinton (Perryville Corporate Park, New Jersey, US HQ), Singapore,India (Chennai, Kolkata, Delhi), Johannesburg, Thailand and Istanbul