Foster Wheeler to buy South Africa management firm MDM Engineering
Founded in 2006, MDM Engineering provides a wide range of services from preliminary and final feasibility studies, through to plant design, construction and commissioning. The firm has about 280 employees.
Foster Wheeler has entered into a merger implementation
agreement with MDM Engineering to acquire all of the ordinary
shares and options in issue of MDM Engineering in a cash
transaction valued at approximately $109 million.
The deal is subject to MDM Engineering shareholder approval
and other closing conditions.
MDM Engineering is a strong fit for Foster
Wheelers minerals and metals strategy to enhance global
capability and capacity," said Kent Masters, Foster Wheeler
Based in South Africa, MDM Engineering is a minerals process
management company focused
on the mining industry.
Founded in 2006, the company provides a wide range of
services from preliminary and final feasibility studies,
through to plant design, construction
The company has approximately 280 employees.