ZUG, Switzerland--(BUSINESS WIRE)--Foster Wheeler AG (Nasdaq: FWLT) announced today that it has acquired NorthAm Engineering S.A. DE CV (“NorthAm”), a privately held engineering company located in Monterrey, Mexico.
NorthAm is one of the largest Mexican engineering and project management companies, with a track record in upstream, offshore and onshore, downstream and power projects. With its main operations in Monterrey, Mexico City and Poza Rica, the company has approximately 400 employees.
“The acquisition of NorthAm is part of our stated strategy to grow our upstream capabilities and the geographic footprint of our Global Engineering and Construction Group,” said Kent Masters, Chief Executive Officer of Foster Wheeler AG. “With NorthAm’s excellent reputation and strong relationships with key Mexican clients, this acquisition significantly strengthens our position in the growing Mexican market. In addition, it provides an excellent platform from which to further expand our business in the wider Latin American market.”
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, 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 Reading, United Kingdom. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.
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