Foster Wheeler AG
) recently announced the receipt of a heat recovery steam generator
(HRSG) contract by its subsidiary - Global Power Group - from
Spain-based electric utility company, Iberdrola. The company will
record the deal in its third-quarter 2014 bookings.
Per the agreement, Foster Wheeler will be designing a HRSG unit
for installation at Iberdrola's forthcoming cogeneration plant at
the Kimberly Clark de Mexico Ramos Arizpe Facility in Coahuila,
Mexico. Apart from building the unit, the company will act as an
advisory body aiding the set up and initiation of the unit.
The heat recovery steam generator will feature a dual pressure
level design that will allow it to generate steam without depending
on the combustion turbine operation. Notably, the unit will be
integrated with a GE LM6000PH combustion gas turbine and is
expected to start commercial operations in the first quarter of
Foster Wheeler's heat recovery steam generators are not only
thermally efficient but offer increased reliability and low
Last week, the company received a couple of heat recovery steam
generator contracts for its Global Power Group licensee - BHI Co.,
Ltd. The contracts came from Japan-based Mitsubishi Corporation (
) and Daewoo Engineering & Construction headquartered in
Foster Wheeler currently has a Zacks Rank #3 (Hold). Some
better-ranked stocks in the sector worth considering at the moment
include Willdan Group Inc. (
) which sports a Zacks Rank #1 (Strong Buy) and AO Smith Corp (
) with a Zacks Rank #2 (Buy).
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