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Slide #20. Global Power Group — Siemens Environmental Systems and Services business
Global Power Group (FWLT)
Siemens Environmental Systems and Services business
Foster Wheeler AG (NASDAQ:FWLT) announced today that a subsidiary of its Global Power Group has signed an asset purchase agreement with Siemens Energy, Inc. to acquire the Siemens Environmental Systems and Services business that supplies and services clean air technologies for use in power plants and industrial facilities. Closing of the transaction is subject to customary closing conditions, and is expected in the second quarter of 2014.
Foster Wheeler operates through two business groups: Global Engineering and Construction Group, which designs, engineers and constructs onshore and offshore upstream oil and gas processing facilities, natural gas liquefaction, facilities and receiving terminals, gas-to-liquids facilities, oil refining, chemical and petrochemical, pharmaceutical and biotechnology facilities and related infrastructure; and Global Power Group, which designs, manufactures and installs steam generators and auxiliary equipment for electric power generating stations, district heating and power plants and industrial facilities.
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Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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