Foster Wheeler Announces Proposed Redomestication from Bermuda to Switzerland

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..

Solar Thin Films, Inc. Enters Into Agreement to Acquire Algatec Solar AG

Solar Thin Films, Inc., a developer, manufacturer and marketer of manufacturing equipment for the production of “thin-film” amorphous silicon photovoltaic solar modules, has entered into a share exchange agreement to acquire Algatec Solar AG (“Algatec”), a German company that produces and markets metallurgic silicon crystalline solar panels or modules. Under the terms of the proposed transaction, the stockholders of Algatec... Read more..

Canadian Manufacturers & Exporters: New Nuclear Option at Nanticoke Good News for Jobs, Investment and Our Environment

Canadian Manufacturers & Exporters (CME) expressed support for Bruce Power’s announcement that the company was launching a planning process to consider the construction of two new nuclear units at Nanticoke. The news means the region could benefit from billions in new private investment and thousands of new jobs if the project proceeds. Ontario manufacturers could significantly benefit given the significant amount of upfront investment... Read more..

Reval Wins Treasury & Risk’s 2008 Alexander Hamilton Award for Technology of the Year with its FAS 157 Solution

Reval, a global leader in financial risk management solutions and services, announced today that it was recognized with an Alexander Hamilton Award at the 13th annual Treasury & Risk Magazine awards ceremony this week. Reval was awarded the silver award in the Technology of the Year category for its best in class FAS 157 Solution. This FAS 157 award follows Reval’s last year’s win as the only vendor to win Best Treasury Tool. The nine... Read more..

Foster Wheeler Awarded Contract for New Refinery in Libya

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..

Foster Wheeler Awarded Coal-to-Liquids Feasibility Study in China

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..

Rosetta Resources Inc. Reaches Settlement With Calpine Corporation and Provides Reserves and Impairment Update

Rosetta Resources Inc., an independent oil and gas company, today announced it has reached an agreement to settle its pending litigation with Calpine Corporation. The agreement will allow Rosetta to complete the transaction by which it purchased Calpine’s oil and gas business on July 7, 2005. The agreement will also extend the contract by which Rosetta sells certain Sacramento Basin gas volumes to Calpine. The agreement has been approved by... Read more..

Atria Networks Acquires Peterborough Utilities Inc.’s Telecom Assets

Atria Networks LP announced that it has acquired the telecom assets of Peterborough Utilities Inc., supplier of fibre-optic and wireless services for the City of Peterborough and surrounding areas. Since 1997, Peterborough Utilities has been responsible for building, owning and operating a world-class fibre-optic network in its service communities. More recently, they have begun supplying wireless services to select customers. “At Peterborough... Read more..

Foster Wheeler Enters into License Contract for Advanced Pulverized-Coal Technology in Korea

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..

Foster Wheeler Awarded Conceptual & Basic Design of New Alcon Pharmaceutical Manufacturing Plant in Singapore

Foster Wheeler Ltd. announced today that its U.S. subsidiary, Biokinetics, Inc., along with Foster Wheeler’s Singapore office, both part of its Global Engineering and Construction Group, has been awarded a contract by Alcon Laboratories Inc. to provide engineering and architectural services for the conceptual and basic design of its new 250,000 square foot manufacturing facility to be located in the Tuas Biomedical Park in Singapore. The plant... Read more..