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Foster Wheeler licensee receives contracts for Heat Recovery Steam Generators in Asia
Monday, Aug 18, 2014

Foster Wheeler AG (Nasdaq:FWLT) announced today that BHI Co., Ltd., a licensee of its Global Power Group, has been awarded two contracts for Heat Recovery Steam Generators (HRSGs) in Asia. BHI offers HRSGs, pulverized coal (PC) boilers, circulating fluidized bed (CFB) boilers and oil and gas boilers all utilizing Foster Wheeler’s proven technology.

A contract by Mitsubishi Corporation was awarded to BHI for the design and supply of four HRSGs for the 240 megawatt Bangpoo cogeneration power plant in Thailand, which is scheduled to be on-line by third quarter 2016. Additionally, BHI received a contract from Daewoo Engineering & Construction for the design and supply of two HRSGs for the Pocheon 940 megawatt combined-cycle power plant IPP project in South Korea. The plant is expected to be on-line first quarter 2017.

BHI has received a full notice to proceed on both contracts. The terms of the agreements were not disclosed. The royalty value received for the Mitsubishi project was included in Foster Wheeler’s bookings for the second quarter of 2014; the royalty value received for the Daewoo project will be included in Foster Wheeler’s bookings for the third quarter of 2014.

“We at Foster Wheeler are proud of our great association with BHI in producing world-class HRSGs,” said David J. Parham, Executive Vice President, Foster Wheeler Global Power Group. “Together we have extensive experience with a variety of combustion turbines.”

“BHI is pleased to be making an important contribution by supplying environmentally friendly and cost-efficient HRSGs,” said Woo Jong-Ihn, President, BHI Co., Ltd. “In particular, our HRSGs operating behind Siemens and Mitsubishi J-gas turbines, respectively, will help secure reliable power generation in Thailand and South Korea.”

BHI Co., Ltd. is engaged in the engineering, production, erection and sale of heat exchangers and boilers in South Korea and internationally. The company was formerly known as Bumwoo Eng Co., Ltd. and changed its name to BHI Co., Ltd. in March 2009. BHI Co., Ltd. was incorporated in 1998 and is based in Haman-Gun, South Korea.

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.

For more information, please visit: Foster Wheeler AG

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