Foster Wheeler Awarded Fifth Successive Order Of Distinction
ZUG, SWITZERLAND, July 25, 2012 – Foster Wheeler AG (Nasdaq: FWLT) announced today that the UK subsidiary of its Global Engineering and Construction Group has been awarded, for the fifth successive year, the prestigious Order of Distinction Award for Occupational Health and Safety by the UK‟s Royal Society for the Prevention of Accidents (RoSPA), and also its nineteenth consecutive RoSPA Gold Award for outstanding health and safety performance on UK and international projects.
The Order of Distinction is RoSPA‟s highest achievement award and is presented only to those companies which have attained at least 15 consecutive RoSPA Gold Awards for outstanding health and safety performance on projects around the world.
We are very proud to receive once again the prestigious RoSPA Order of Distinction Award for our 2011 safety performance,” said Filippo Abbá, Chairman and Chief Executive Officer, Foster Wheeler Energy Limited. “Foster Wheeler‟s safety vision is very clear: „working safely in an environmentally responsible way is integral to everything we do at Foster Wheeler’. We want all of our employees and contractors to go home safely each day. This award recognizes the commitment, hard work and safety leadership demonstrated by our people to translate this vision into reality. Maintaining this high standard takes tremendous effort and focus, and we continue to implement new health and safety initiatives to „raise the bar‟ even higher.”
Dating back to 1956, the RoSPA Occupational Health and Safety Awards scheme is the largest and longest-running program of its kind in the UK. It recognizes commitment to accident and ill-health prevention and is open to businesses and organizations of all types and sizes from across the UK and overseas. The scheme does not look just at accident records, but also entrants‟ overarching health and safety management systems, including important practices such as strong leadership and workforce involvement.
David Rawlins, Awards Manager at RoSPA, a safety charity with a 95-year history, said: “The RoSPA Awards program provides well-deserved recognition for the winners and spurs on other organizations to raise their standards of accident and ill health prevention. We congratulate Foster Wheeler Energy Limited on its success and encourage it, and all our other winners, to remain committed to safety and health, an approach that is well recognized to be good for workers and the bottom line.”
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 leadingedge 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.
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Foster Wheeler AG news releases may contain forward-looking statements that are based on management‟s assumptions, expectations and projections about the Company and the various industries within which the Company operates. These include statements regarding the Company‟s expectations about revenues (including as expressed by its backlog), its liquidity, the outcome of litigation and legal proceedings and recoveries from customers for claims and the costs of current and future asbestos claims and the amount and timing of related insurance recoveries. Such forwardlooking statements by their nature involve a degree of risk and uncertainty. The Company cautions that a variety of factors, including but not limited to the factors described in the Company‟s most recent Annual Report on Form 10-K, which was filed with the U.S. Securities and Exchange Commission and the following, could cause the Company‟s business conditions and results to differ materially from what is contained in forward-looking statements: benefits, effects or results of the Company‟s redomestication or the relocation of our principal executive offices to Geneva, Switzerland; the benefits, effects or results of our strategic renewal initiative; further deterioration in global economic condition; changes in investment by the oil and gas, oil refining, chemical/petrochemical and power generation industries; changes in the financial condition of our customers; changes in regulatory environments; changes in project design or schedules; contract cancellations; changes in estimates made by the Company of costs to complete projects; changes in trade, monetary and fiscal policies worldwide; compliance with laws and regulations relating to our global operations; currency fluctuations; war, terrorist attacks and/or natural disasters affecting facilities either owned by the Company or where equipment or services are or may be provided by the Company; interruptions to shipping lanes or other methods of transit; outcomes of pending and future litigation, including litigation regarding the Company‟s liability for damages and insurance coverage for asbestos exposure; protection and validity of its patents and other intellectual property rights; increasing global competition; compliance with debt covenants; recoverability of claims against customers and others by the Company and claims by third parties against the Company; and changes in estimates used in our critical accounting policies. Other factors and assumptions not identified above were also involved in the formation of these forward-looking statements and the failure of such other assumptions to be realized, as well as other factors, may also cause actual results to differ materially from those projected. Most of these factors are difficult to predict accurately and are generally beyond the Company‟s control. You should consider the areas of risk described above in connection with any forward-looking statements that may be made by the Company. The Company undertakes no obligation to publicly update any forwardlooking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any additional disclosures the Company makes in proxy statements, quarterly reports on Form 10-Q, annual reports on Form 10-K and current reports on Form 8-K filed or furnished with the Securities and Exchange Commission.
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