Foster Wheeler Corporation
Encyclopedia
Foster Wheeler 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:
& 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.
facilities, as well as facilities for the process industries, providing electricity, steam and feed stocks to industries and local grids.
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
.
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
and with its principal executive offices in New Jersey
New Jersey
New Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
. It is focused on Engineering, Procurement, and Construction
EPC (contract)
EPC stands for Engineering, Procurement and Construction.It is a common form of contracting arrangement within the construction industry. Under an EPC contract, the contractor will design the installation, procure the necessary materials and construct it, either through own labour or by...
(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
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
but later moved to Livingston, New Jersey
Livingston, New Jersey
Livingston is a township in Essex County, New Jersey, United States. As of the United States 2000 Census, the township population was 29,366.Livingston was incorporated as a township by an Act of the New Jersey Legislature on February 5, 1813, from portions of Caldwell Township and Springfield...
and stayed there for nearly a quarter century before relocating to Clinton, New Jersey
Clinton, New Jersey
Clinton is a Town in Hunterdon County, New Jersey on the South Branch of the Raritan River. As of the 2010 United States Census, the town population was 2,719....
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, biotechnologyBiotechnology
Biotechnology is a field of applied biology that involves the use of living organisms and bioprocesses in engineering, technology, medicine and other fields requiring bioproducts. Biotechnology also utilizes these products for manufacturing purpose...
& healthcare, environmental and power industries.
They own industry-leading technology in delayed coking, solvent de-asphalting and hydrogen production
Hydrogen production
Hydrogen production is the family of industrial methods for generating hydrogen. Currently the dominant technology for direct production is steam reforming from hydrocarbons. Many other methods are known including electrolysis and thermolysis...
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.
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-energyWaste-to-energy
Waste-to-energy or energy-from-waste is the process of creating energy in the form of electricity or heat from the incineration of waste source. WtE is a form of energy recovery...
facilities, as well as facilities for the process industries, providing electricity, steam and feed stocks to industries and local grids.
Financials
Foster Wheeler was added to the NASDAQ-100NASDAQ-100
The NASDAQ-100 is a stock market index of 100 of the largest non-financial companies listed on the NASDAQ. It is a modified capitalization-weighted index. The companies' weights in the index are based on their market capitalizations, with certain rules capping the influence of the largest components...
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
The Wall Street Journal
The Wall Street Journal is an American English-language international daily newspaper. It is published in New York City by Dow Jones & Company, a division of News Corporation, along with the Asian and European editions of the 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
License
The verb license or grant licence means to give permission. The noun license or licence refers to that permission as well as to the document recording that permission.A license may be granted by a party to another party as an element of an agreement...
for many petroleum
Petroleum
Petroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling...
and petrochemical
Petrochemical
Petrochemicals are chemical products derived from petroleum. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable sources such as corn or sugar cane....
processes and is one of the largest employers of Chemical Engineers.
Main offices are in Reading, Berkshire
Reading, Berkshire
Reading is a large town and unitary authority area in England. It is located in the Thames Valley at the confluence of the River Thames and River Kennet, and on both the Great Western Main Line railway and the M4 motorway, some west of London....
, Milan
Milan
Milan is the second-largest city in Italy and the capital city of the region of Lombardy and of the province of Milan. The city proper has a population of about 1.3 million, while its urban area, roughly coinciding with its administrative province and the bordering Province of Monza and Brianza ,...
, Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
, Madrid
Madrid
Madrid is the capital and largest city of Spain. The population of the city is roughly 3.3 million and the entire population of the Madrid metropolitan area is calculated to be 6.271 million. It is the third largest city in the European Union, after London and Berlin, and its metropolitan...
, Clinton
Clinton, New Jersey
Clinton is a Town in Hunterdon County, New Jersey on the South Branch of the Raritan River. As of the 2010 United States Census, the town population was 2,719....
(Perryville Corporate Park, New Jersey
New Jersey
New Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
, US HQ), Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, India (Chennai, Kolkata
Kolkata
Kolkata , formerly known as Calcutta, is the capital of the Indian state of West Bengal. Located on the east bank of the Hooghly River, it was the commercial capital of East India...
, Delhi), Johannesburg
Johannesburg
Johannesburg also known as Jozi, Jo'burg or Egoli, is the largest city in South Africa, by population. Johannesburg is the provincial capital of Gauteng, the wealthiest province in South Africa, having the largest economy of any metropolitan region in Sub-Saharan Africa...
, Thailand
Thailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
, and Istanbul
Istanbul
Istanbul , historically known as Byzantium and Constantinople , is the largest city of Turkey. Istanbul metropolitan province had 13.26 million people living in it as of December, 2010, which is 18% of Turkey's population and the 3rd largest metropolitan area in Europe after London and...
.