Foster Wheeler buys Canadian engineering firm
Foster Wheeler has acquired Calgary-based Three Streams Engineering for an undisclosed amount.
Three Streams is a multi-discipline full service engineering, procurement, and construction management company with upstream and downstream projects located in Western Canada. It has approximately 450 employees.
"The acquisition of Three Streams is part of our stated strategy to grow the upstream capabilities and the geographic footprint of our Global Engineering and Construction Group," said Kent Masters, Chief Executive Officer of Foster Wheeler AG. "Additionally, with Three Streams, we have taken a step to increase our presence in the Canadian SAGD market."
Masters said, "We are excited about the opportunities that this acquisition brings us in Canada. The combination of talents from the two companies gives us a very strong team in that market, and we welcome the employees of Three Streams to Foster Wheeler."
Foster Wheeler AG is a global engineering and construction company 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.