Foster Wheeler, CEFOC launch Chinese venture for engineering design
7/23/2013 12:00:00 AM
“This enables us to deliver the full value chain of services that our clients in China are demanding, and represents a key milestone in our growth strategy in China,” said Kent Masters, CEO of Foster Wheeler.
The co-owned institute is now a joint venture (JV) named Foster Wheeler (Hebei) Engineering Design Company Ltd. Through the venture, Foster Wheeler and CEFOC (officially named The Fourth Construction Company Ltd. of China Electronics System Engineering) will execute their business in China.
Under Chinese law, this industry grouping includes other key business sectors for Foster Wheeler such as upstream, refining and power. The new company is fully licensed to engineer, procure and construct process facilities in China under single contracts, and it possesses Class A design licenses in the “chemical, petrochemical and pharmaceutical” industries.
Foster Wheeler has management control of the new company, whose management is based in Foster Wheeler’s Shanghai office and includes Foster Wheeler’s existing Shanghai operations.
The existing PECHDI offices in Shijiazhuang, Beijing, Tianjin, and Suzhou have also become a part of the new company, which has a combined workforce of more than 600 technical personnel.
Related News
- BASF starts up the world’s first production plant for 3D-printed catalysts in Ludwigshafen
- Ebara Elliott Energy partners with NuScale Power for use of advanced nuclear technology to power petrochemical plants
- Sumitomo Corporation, “K” LINE and NYK Line conclude MoU for new build ammonia bunkering vessel operation in Singapore
- TwinThread launches Perfect Batch, an AI-powered analytics solution to optimize batch production
- Analysis: Licocene Terra, using renewable carbon in hot melt polymers for adhesive formulations
- Ionautics finds breakthrough in iridium-based porous catalyst layer technology for green hydrogen production
Comments