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Foster Wheeler Signs Letter of Agreement With ENAP for a $300 Million Chilean Coker Project
HAMILTON, Bermuda--Oct. 29, 2001--Foster Wheeler Ltd. announced that one of its subsidiaries signed a letter of intent with Chilean state-run oil company, Empresa Nacional de Petroleo (ENAP), for the development of a delayed coker project on the site of an existing refinery
The agreement to develop the project valued at $300 million, provides for Foster Wheeler to perform the basic engineering, followed by a second phase to include engineering, procurement and construction. Companies who signed letters of interest with ENAP to participate in the development of the project include Perez Companc (Argentina), Petrobras (Brazil), Ferrostaal (Germany) and Alberta Energy (Canada). The new coker will be built at the ENAP-owned Refineria de Petroleo de Concon facilities in Concon, Chile, and will process 20,000 barrels per day of heavy oil to produce petroleum coke. Foster Wheeler's scope of work will also include the building of a 44,000 barrels-per-day diesel and naphtha hydrotreating plant, and units for LPG treatment, amine regeneration, sour water stripping and other miscellaneous equipment. Construction is scheduled to begin in 2002, with operations commencing in 2005. In 1998, Foster Wheeler and ENAP completed the Petropower(SM) project in Talcahuano, Chile, on the site of the ENAP-owned Petrox refinery. The project combined a delayed coking facility with a cogeneration unit to generate steam and electric power needs for the Petrox refinery as well as providing power for the local electric grid. Notes to Editors: 1. Foster Wheeler Ltd. is a global company offering, through its subsidiaries, a broad range of design, engineering, construction, manufacturing, project development and management, research, plant operation and environmental services. The corporation is based in Hamilton, Bermuda, and its operational headquarters are in Clinton, N.J. For more information about Foster Wheeler, visit our World-Wide Web site at www.fwc.com. 2. Perez Companc, Petrobras and Alberta Energy are producers of heavy oil; Ferrostaal is a major construction company and equipment supplier. 3. Definitions: Delayed coker -- converts heavy petroleum from a refinery into higher quality products and petroleum coke Sour water stripper -- a distillation device used to remove hydrogen sulfide from water Hydrotreating -- a process to catalytically stabilize petroleum products and remove objectionable elements from them by reacting them with hydrogen Naphtha -- a flammable, volatile liquid made by distilling petroleum, and used as a fuel LPG treatment -- a method to remove sulfur from liquid petroleum gas Amine regeneration -- the removal of acid gases from amine (a chemical used for acid gas removal)
Cognis Signs Exclusive Licensing Agreement with Natural ASA for Tonalin CLA DUSSELDORF, Germany-- Aug. 15, 2002--Cognis, a global specialty chemicals and nutritional ingredients company, and Natural ASA, a Norwegian research and development company, announced today that they have signed an agreement effective Sept. 1, 2002 which grants Cognis an exclusive license in the Key Markets, under Natural's Conjugated Linoleic Acid (CLA) intellectual property, technology, and know-how, and an exclusive license for the use of the Tonalin(R) trademark. ChevronTexaco and Invensys sign marketing agreement for PETRO Refinery Planning SystemFOXBORO, Massachusetts (August 16, 2002) - A unit of ChevronTexaco has signed an agreement with Invensys Production Management, a resource productivity company, designed to provide Invensys with global marketing rights for the PETRO Linear Programming (LP) refinery planning system. Georgia Gulf to Announce Third Quarter Earnings ExpectationsATLANTA, Aug. 19 -- Georgia Gulf plans to release third quarter earnings expectations on Monday, September 23, 2002, following close of market. The company will discuss third quarter expectations via teleconference and Webcast on Tuesday, September 24, 2002, at 9:00 AM EDT. Praxair Announces Joint Venture With Belgian Manufacturer of Steelmaking EquipmentDANBURY, Conn.-- Aug. 16, 2002--Praxair, Inc. today announced that it has formed a joint venture in Belgium to manufacture steel-refining equipment. Eurotech, Ltd. Plans Management ChangeFAIRFAX, Va. --Aug. 19, 2002--Eurotech, Ltd., www.eurotechltd.com, today announced that late in the day on Friday, August 16, 2002, Todd J. Broms, a Director and the President and Chief Executive Officer, notified the Company of his intention to resign all three positions. CIDX, GPA join forces to promote XML StandardsALEXANDRIA, Virginia (August 20, 2002) - The Chemical Industry Data Exchange (CIDX) and Gas Processors Association (GPA) have formed an agreement to collaborate on the adoption of XML-based standards within the gas processing industry and implementation of the Chem eStandards to facilitate electronic trade within and between the gas processing and chemical industries. Cap Gemini Ernst & Young introduces Quick ConnectPHILADELPHIA, Pennsylvania (October 22, 2001) – Cap Gemini Ernst & Young has launched Quick Connect, a packaged solution designed to allow buyers, suppliers and trading partners to leverage digital commerce. Cap Gemini Ernst & Young launched its product at the Elemica Global Conference 2001. Argonaut Announces Expansion of Senior Management TeamFOSTER CITY, Calif.-- Oct. 22, 2001-- Argonaut Technologies, Inc. today announced the promotion of Lissa Goldenstein to president and chief executive officer and the addition of Michael Moore to its management team, as senior vice president and chief operating officer. David Binkley, Ph.D. will remain chairman of the board of directors. Vulcan Announces Record Third QuarterBIRMINGHAM, Ala. --Oct. 22, 2001--Vulcan Materials Company today announced record third quarter 2001 sales, net earnings and earnings per share. For the quarter, net sales were $766.0 million, up 12 percent from last year's $681.2 million, and net earnings of $92.2 million, or $0.90 per share (diluted), were 7 percent higher than the $86.0 million, or $0.84 per share, achieved in the third quarter of 2000. AspenTech establishes Technology Advisory BoardCAMBRIDGE, Massachusetts (October 23, 2001) - Aspen Technology (aspentech.com) has established a Technology Advisory Board (TAB) to help provide strategic direction for the company’s long-term software development. According to AspenTech, the 13-member TAB will ensure the company’s software continues to utilize technical solutions to generate value for process industry customers. CheMatch and ForwardVue Technologies form strategic marketing agreementHOUSTON (October 22, 2001) – CheMatch.com (CheMatch.com), an Internet-based marketplace and information resource for buying and selling commodity chemicals, polymers, feedstocks and fuel products, and ForwardVue Technologies (forwardvue.com), a developer of supply chain risk management software solutions, have formed an agreement to co-market ForwardVue products to the chemical industry. Symyx Technologies Announces Grant of Patent for Parallel Pressure ReactorSANTA CLARA, Calif. --Oct. 24, 2001--Symyx Technologies, Inc. today announced the granting of a U.S. patent covering Symyx' Parallel Pressure Reactor, or PPR. Symyx uses the PPR for various research activities, such as polymer research, in its Industry Collaborations and internally funded programs. In addition, the PPR is an integral part of Symyx' Discovery Tools business through which it has been sold as a part of a polyolefins research workflow to Dow Chemical, ExxonMobil, Sumitomo Chemical and others. Symyx also earns royalties from the sale of the Endeavor, a product licensed to Argonaut Technologies, Inc. based on the Symyx PPR technology. DuPont Reports Fourth Quarter DividendWILMINGTON, Del., Oct. 24 – DuPont today declared a fourth quarter common stock dividend of 35 cents per share, payable Dec. 14 to stockholders of record Nov. 15. This dividend is the same as that paid in the third quarter 2001. This is the 389th consecutive quarterly dividend since the company's first dividend in the fourth quarter of 1904. Borouge prepares for start up of Polyethylene Plant in RuwaisABU DHABI (October 25, 2001) - Borouge, a joint venture company between Abu Dhabi National Oil Company (ADNOC) and Borealis, one of Europe’s largest polyolefin producers, is gearing up for the official operations of its polyethylene plant in Ruwais which has been scheduled for the end of the year. Dow Reports Third Quarter EarningsMIDLAND, Mich., Oct. 25 -- Dow Reports Third Quarter Earnings ChemConnect unveils new e-commerce negotiation tools and servicesDUSSELDORF, Germany (October 25, 2001) – ChemConnect (chemconnect.com), a provider of end-to-end e-commerce solution for buyers and sellers of chemicals and plastics, has revealed a range of online negotiation tools and services on its Exchange Floor. Moldflow Reports First Fiscal Quarter 2002 ResultsWAYLAND, Mass--Oct. 24, 2001--Moldflow Corporation, the world leader in process wide solutions for optimizing the design and manufacture of plastic products, today reports results for its first fiscal quarter ended September 29, 2001. Revenue of $8.2 million for the first quarter of fiscal 2002 was down 7% from the corresponding quarter of fiscal 2001. ATG Announces the Appointment of Frank Chiu as CFOHayward, Calif.--Oct. 24, 2001--ATG, Inc., a leading multi-technology Radioactive Waste and Radioactive Mixed Waste treatment services, today announced a change in roles and responsibilities in its management structure. In a five to zero Board decision, the Company accepted the departure of its Vice President of Finance/Chief Financial Officer, Phillip Jordan, who has been with the Company since June 25, 2001. Elemica speakers outline challenges, imperativesPHILADELPHIA – Speakers at the Elemica Global Conference 2001 held here this week tackled a number of misconceptions about the connectivity hub and urged attendees to lend their support to the CIDX Chem eStandards, business process standardization and the integration of Elemica with other hubs to create a multi-industry network. Supply Chain Secrets – What to share and whenOperational performance improvements and bottom-line cost savings are driving many companies to develop closer ties to their supply chain partners via the Internet and extranets. But according to a new report from Forrester Research, “When to Share Supply Chain Secrets,” the trick is to know what information to share - and when.
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