Foster Wheeler AG
) recently announced the acquisition of Yonkers Industries, Inc.,
that specializes in construction and commissioning of
pharmaceutical and biotech facilities, along with managing full
EPCm (Engineering, Procurement and Construction Management) of
such facilities. The terms of the deal were not disclosed.
Foster Wheeler Biokinetics, a part of Fosters Engineering and
Construction Group, is expected to benefit immediately from the
Yonkers acquisition, as the life sciences client portfolio and
the geographic coverage of the two companies complement very
well. Further, the project and construction management skills of
Yonkers are a perfect fit for the biotech, pharmaceutical, food,
medical device, nutritional expertise of Biokinetics.
Therefore, the acquisition of Yonkers is a strategic move by
Foster to provide its pharmaceutical business with a construction
management capability in the U.S. Further, Yonkers has a strong
reputation globally for its contract execution capabilities.
Hence, with this acquisition, Foster looks to reinforce its
value proposition toward its pharmaceutical and biotech clients.
In addition, Yonkers also has a partnership with Modular
Partners, and also possesses the required expertise to provide
modular project delivery worldwide.
Based in Cary, North Carolina, Yonkers has been providing
construction and project management services globally for over
three decades. The company specializes in the building of
pharmaceutical and biotech facilities including R&D, pilot
plants, labs, bulk manufacturing and finished dosage
manufacturing, pulp & paper and process manufacturing. With
offices across California, North Carolina and Puerto Rico and
Yonkers has employee strength of about 200.
Foster currently has a short-term Zacks Rank #3 (Hold). One of
Jacobs Engineering Group Inc.
) also carries a short-term Zacks Rank #3 (Hold).
FOSTER WHELR AG (FWLT): Free Stock Analysis
JACOBS ENGIN GR (JEC): Free Stock Analysis
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