ZUG, Switzerland--(BUSINESS WIRE)--Foster Wheeler AG (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group has been awarded a contract by Cynar Plc to provide basic process engineering design services for a 6,000 tonnes per annum (tpa) plant to convert non-recyclable waste plastics into liquid fuels, primarily diesel.
The plant will utilize Cynar’s pyrolysis technology, supplemented with Foster Wheeler’s refining knowledge to produce liquid fuels.
The basic design package is expected to be completed during the first quarter of 2011.
The Foster Wheeler contract value for this project was not disclosed. Approximately half of the value was included in the company’s fourth-quarter 2010 bookings and the remainder will be included in the company’s first-quarter 2011 bookings.
Cynar has a demonstration plant, located in Portlaoise, Ireland. Foster Wheeler has been working with Cynar over the past year on study work aimed at improving the quality of the fuel produced. This work has identified changes that are required, and these modifications are being incorporated into the design for the new plant at the same location.
"Foster Wheeler is very pleased to be working with Cynar on this important and exciting project,” said Umberto della Sala, interim chief executive officer, Foster Wheeler AG. “Foster Wheeler’s extensive experience in refining and synthetic fuels has enabled the base process to be developed in line with Cynar’s aspiration of producing on-specification products.”
“Cynar chose Foster Wheeler to assist with our technology development because of their wide ranging engineering expertise and in particular their oil refining knowledge and capability. Currently all end-of-life plastic ends up in landfill and Cynar’s technology can go some way to reducing this ever increasing problem whilst providing an alternative to fossil fuel. We are very pleased with Foster Wheeler’s participation and contribution in our journey to provide a solution to a significant worldwide issue,” said Michael Murray, chief executive officer, Cynar Plc.
Foster Wheeler AG is a global engineering and construction contractor 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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