Foster Wheeler Ltd. announced that its board of directors has unanimously approved the redomestication of the company from Bermuda to Switzerland. Foster Wheeler’s shareholders will be asked to vote in favor of the proposal at a shareholders meeting expected to be scheduled for January 2009. If approved by shareholders, and subject to the approval of the Supreme Court of Bermuda and satisfaction of certain other conditions described in the company’s... Read more..
Equistar Chemicals, LP, will temporarily idle the olefin unit at La Porte, Texas, due to declining market and economic conditions. The La Porte olefin unit is expected to remain out of service until early 2009. The plant has a nameplate capacity of 1.7 billion pounds per year of ethylene and 700 million pounds of propylene. “We have elected to take the olefin plant at La Porte offline for two to three months due to the drop-off in demand for... Read more..
Foster Wheeler Ltd. announced that its Milan-based subsidiary Foster Wheeler Italiana S.p.A., part of its Global Engineering and Construction Group, has been awarded a contract by Zwara Oil Refinery Company Limited (ZORCO) for consultancy and project management services for a planned new 200,000 barrels per stream day crude oil refinery at Mellita, near Zwara, in the Great Socialist People’s Libyan Arab Jamahiriya. ZORCO is a project company in... Read more..
Broadwind Energy, Inc., a leading producer of components, logistics and service for the wind power industry, today announced it has retained Lambert, Edwards & Associates, Inc. (LE&A) to manage its investor relations activities. Naperville, Ill. – based Broadwind Energy said LE&A will help the Company communicate its emerging growth story to shareholders, the investment community and media. Through organic and strategic growth,... Read more..
Foster Wheeler Ltd. announced that its subsidiaries, Foster Wheeler Energy Limited and Foster Wheeler International Engineering & Consulting (Shanghai) Co. Ltd., together with its consortium partner, Wuhuan Engineering Company, have been awarded contracts by Sasol Synfuels International (Proprietary) Limited (Sasol) and Shenhua Ningxia Coal Industry Group Company Ltd. (Shenhua) to perform a feasibility study for an 80,000 barrels per day coal-to-liquids... Read more..
In a bold stroke worthy of a process server’s academy award, Freedom Watch Chairman and Chief Legal Counsel Larry Klayman leapt out from a line of TV cameras Friday to serve a complaint on an OPEC oil minister. The lawsuit filed on behalf of Freedom Watch in Southern District, Miami, Florida, charges OPEC with illegal price fixing, market division and collusion in having agreed to lower oil production worldwide by 1.5 million barrels a day,... Read more..
Casella Waste Systems, Inc., a regional solid waste, recycling and resource management services company, announced today that operations at its Clinton County landfill gas-to-energy plant, producing clean energy from landfill methane gas, began ahead of schedule. This facility is the company’s fifth landfill gas-to-energy project. The new landfill gas-to-energy plant, located at the company’s Clinton County landfill in Morrisonville, NY,... Read more..
Nova Biosource Fuels, Inc., a refiner and marketer of ASTM quality biodiesel, announced today it has received certification of substantial completion from the independent engineer for its Seneca biodiesel refinery project. Certification of substantial completion requires that the refinery demonstrates to the satisfaction of the project’s independent engineer the following for a required test period: — throughput levels in excess of... Read more..
Foster Wheeler Ltd. announced today that a subsidiary of its Global Power Group has entered into a fifteen-year agreement with Bumwoo ENG Co., Ltd. to provide an advanced technology license for wall-fired subcritical and supercritical pulverized-coal (PC) steam generators to be sold in South Korea. The terms of the agreement were not disclosed. The contract value will be included in the company’s third-quarter 2008 bookings and future royalty payments... Read more..
FLABEG, global leader in high-tech glass and mirror applications, is to establish production capacity for high-precision parabolic mirrors which are used to help generate electricity at large-scale solar power plants. The new 209,000-square-foot manufacturing facility will be build in the Clinton Commerce Park near Pittsburgh International Airport. Pennsylvania’s Gov. Ed Rendell delivered a US$9 million grant to help pay for the US$30 million... Read more..