Foster Wheeler And GE Energy Sign Mining and Metals Memorandum of Understanding in Chile
ZUG, Switzerland--(BUSINESS WIRE)-- Foster Wheeler AG (Nasdaq: FWLT) announced today that the Chilean subsidiary of its Global Engineering and Construction Group has signed a memorandum of understanding with a unit of GE Energy to explore the pursuit of selected mining and metals projects in South America.
Together, GE Energy and Foster Wheeler Chile S. A. would be able to offer innovative solutions to the mining sector, combining equipment and technology from GE Energy, together with the technical expertise in mining and metals and the project execution capability of Foster Wheeler Chile S.A.
This combined offering would include mineral processing, power generation and water desalination facilities, providing solutions to address processing issues, and to improve productivity, water and waste management and power utilization.
“With labor shortages, capital challenges, lower mineral ore grades, water and energy supply difficulties and complex infrastructures, mining companies have a number of challenges to overcome,” said Jose Luis Fernandez Bris, General Manager, Foster Wheeler Chile S.A. “Working with GE Energy, we can offer a wide range of innovative solutions to help the mining industry meet these challenges.”
“With rising demand, environmental considerations and the need to venture into more remote areas, mining companies may be facing some of their biggest challenges ever,” said Keiran Coulton, President, Global Industries, GE Energy. “By thinking systems instead of products -- and complementing our expertise with that of Foster Wheeler Chile -- we can offer solutions in South America that should enable more productive mining.”
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.
GE (NYSE: GE) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's Web site at www.ge.com. GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With more than 90,000 global employees and 2010 revenues of $38 billion, GE Energy www.ge.com/energy is one of the world’s leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energy—GE Power & Water, GE Energy Services and GE Oil & Gas—work together to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.
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