Foster Wheeler announced that a subsidiary of its Global Power Group has signed an asset purchase agreement with Siemens Energy to acquire the Siemens Environmental Systems and Services business.
The transaction is subject to customary closing conditions, and is expected in the second quarter of 2014.
Siemens Environmental Systems and Services business provides clean air technologies and services for use in power plants and industrial facilities.
The agreement includes purchase of assets of the former Wheelabrator Air Pollution Control Company located in Pittsburgh, Pennsylvania and the Advanced Burner Technology Company located in Branchburg, New Jersey.
These businesses design, engineer, retrofit and service a broad range of clean air technologies for power and industrial plants.
“This is a strategic acquisition which expands our capability to offer clean air products and services to our clients in both the power and industrial sectors,” said Gary Nedelka, chief executive officer of Foster Wheeler’s Global Power Group.
Nedelka added that the acquisition complements the company’s existing portfolio of clean-air products and allows us to provide their clients with a full array of solutions to meet both tightening environmental regulations and the growing demand for energy on a global basis.
Foster Wheeler does not expect the Siemens transaction to affect the timing of completion of the business combination of Foster Wheeler and AMEC, an official statement from the company said.