Foster Wheeler in the UK Wins British Safety Council's Sword of Honour and Globe of Honour
ZUG, Switzerland--(BUSINESS WIRE)-- Foster Wheeler AG (NAS: FWLT) announced today that the UK subsidiary of its Global Engineering and Construction Group has been recognized by the British Safety Council with two awards, the Sword of Honour for health and safety management excellence and the Globe of Honour for environmental management excellence.
Foster Wheeler was one of 80 organizations world-wide presented with a British Safety Council Sword of Honour and one of six organizations who won the "double" - the Sword of Honour and the Globe of Honour.
The winners of the Sword of Honour have all been recognized by the British Safety Council as having exemplary health and safety systems that are among the best in the world. In order to compete for the Sword of Honour, organizations must have achieved the maximum rating in the British Safety Council's five star health and safety management system audit at specific locations. They must also have demonstrated to an independent adjudication panel a culture of best practice for health and safety throughout the business - from the boardroom to the shop floor.
The Globe of Honour award scheme was launched in 2010 to recognize exemplary environmental management. The winners have completed the British Safety Council's five star environmental audit, and in so doing have demonstrated that they go beyond compliance and strive for best practice in all areas of environmental management.
"These awards confirm that Foster Wheeler's health, safety and environmental (HSE) performance is underpinned by world-class systems. This in-depth review of our systems and HSE culture by the British Safety Council provides assurance to our stakeholders that Foster Wheeler is truly a leader when it comes to HSE management," said Filippo Abbà, Chairman and Chief Executive Officer, Foster Wheeler Energy Limited.
Photograph is available at http://www.fwc.com/enewsroom/images/GOH-1.jpg
Caption: Lynda Armstrong OBE (left), Chair of the Trustees, British Safety Council, presents the Globe of Honour to Filippo Abbà, Chairman and Chief Executive Officer, Foster Wheeler Energy Limited, on Friday, 23 November 2012, at Mansion House, City of London.
Foster Wheeler AG is a global engineering and construction company and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 12,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company's Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, mining and metals, environmental, pharmaceuticals, biotechnology and healthcare industries. The company's Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters office is in Geneva, Switzerland. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.
Safe Harbor Statement
Foster Wheeler AG news releases may contain forward-looking statements that are based on management's assumptions, expectations and projections about the Company and the various industries within which the Company operates. These include statements regarding the Company's expectations about revenues (including as expressed by its backlog), its liquidity, the outcome of litigation and legal proceedings and recoveries from customers for claims and the costs of current and future asbestos claims and the amount and timing of related insurance recoveries. Such forward-looking statements by their nature involve a degree of risk and uncertainty. The Company cautions that a variety of factors, including but not limited to the factors described in the Company's most recent Annual Report on Form 10-K, which was filed with the U.S. Securities and Exchange Commission and the following, could cause the Company's business conditions and results to differ materially from what is contained in forward-looking statements: benefits, effects or results of the Company's redomestication to Switzerland; the benefits, effects or results of our strategic renewal initiative; further deterioration in global economic condition; changes in investment by the oil and gas, oil refining, chemical/petrochemical and power generation industries; changes in the financial condition of our customers; changes in regulatory environments; changes in project design or schedules; contract cancellations; changes in estimates made by the Company of costs to complete projects; changes in trade, monetary and fiscal policies worldwide; compliance with laws and regulations relating to our global operations; currency fluctuations; war, terrorist attacks and/or natural disasters affecting facilities either owned by the Company or where equipment or services are or may be provided by the Company; interruptions to shipping lanes or other methods of transit; outcomes of pending and future litigation, including litigation regarding the Company's liability for damages and insurance coverage for asbestos exposure; protection and validity of its patents and other intellectual property rights; increasing global competition; compliance with debt covenants; recoverability of claims against customers and others by the Company and claims by third parties against the Company; and changes in estimates used in our critical accounting policies. Other factors and assumptions not identified above were also involved in the formation of these forward-looking statements and the failure of such other assumptions to be realized, as well as other factors, may also cause actual results to differ materially from those projected. Most of these factors are difficult to predict accurately and are generally beyond the Company's control. You should consider the areas of risk described above in connection with any forward-looking statements that may be made by the Company. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. You are advised, however, to consult any additional disclosures the Company makes in proxy statements, quarterly reports on Form 10-Q, annual reports on Form 10-K and current reports on Form 8-K filed or furnished with the Securities and Exchange Commission.
Foster Wheeler AG
Julie Stanisz, 908-730-4047
Anne Chong, +44 (0) 118 913 2106
Scott Lamb, 908-730-4155
KEYWORDS: United Kingdom United States Europe North America New Jersey Switzerland
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