ZUG, Switzerland--(BUSINESS WIRE)--Foster Wheeler AG (Nasdaq: FWLT) announced today that it has acquired Yonkers Industries, Inc., a 30-year-old US-based firm that specializes in the management of construction and commissioning of pharmaceutical and biotech facilities, with capabilities to also manage the full EPCm (Engineering, Procurement and Construction Management) of such facilities.
With offices in California, North Carolina and Puerto Rico, Yonkers Industries has approximately 200 professionals. Through its participation in a project-services partnership called Modular Partners, Yonkers also has the ability to provide modular project delivery services on a worldwide basis.
“The acquisition of Yonkers Industries gives our pharmaceutical business a construction management capability in North America,” said Kent Masters, Chief Executive Officer of Foster Wheeler AG. “Yonkers has a global reputation for excellence in contract execution, and the addition of this construction management capability immediately strengthens our value proposition to pharmaceutical and biotech clients.”
Masters added, “Foster Wheeler Biokinetics, our US-based pharmaceutical unit, will experience the most immediate benefit from this acquisition – as the client portfolios and geographic coverage of the two companies fit together quite effectively. We believe that the project and construction management skills of Yonkers are a perfect complement to the biotech engineering expertise of Biokinetics.”
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 12,000 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, mining 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 Geneva, Switzerland. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.
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