Foster Wheeler acquires Canadian engineering company Three Streams

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11.28.2012 |

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. Financial terms of the acquisition were not disclosed.

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Foster Wheeler on Wednesday acquired Three Streams Engineering, a privately-held engineering company located in Calgary, Canada.

“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, CEO of Foster Wheeler.

“Additionally, with Three Streams, we have taken a step to increase our presence in the Canadian SAGD market," he continued. "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.”

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Nassereddin Eftekhar
11.30.2012

In early 1980's, I started my engineering career with gas injection projects (for the purpose of secondary oil recovery) by knowing brand work of Foster Wheeler-GB. Foster Wheeler has been always a front runner and kept up with the cutting edge technologies. As a Canadian I would like to congratulate Foster Wheeler (FW ) for this intelligent acquisition! As a FW fan, I do believe by having talents and capabilities of a reputable Canadian company in SAGD at its disposal, FW would add value to its organization let alone its presence in Canadian market.