Foster Wheeler to buy South Africa management firm MDM Engineering
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 CEO.
Based in South Africa, MDM Engineering is a minerals process and project 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 and commissioning. The company has approximately 280 employees.
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