Foster Wheeler North America has entered into a contract with Shanghai Boiler Works to provide an advanced technology license for arch-fired subcritical and supercritical steam generators.
The value of the initial fees will be included in the company's second-quarter 2006 bookings, and ongoing royalty payments will be booked over the fifteen-year agreement period.
Foster Wheeler says its arch-fired design steam generator technology provides a solution for firing difficult-to-burn low volatile coals in large-scale utility-size steam generators, with high efficiency and reduced emissions.
In addition to the Chinese market where Shanghai Boiler Works will lead the contracting activities, Foster Wheeler and Shanghai Boiler Works have agreed to cooperate for projects outside
"The award of this contract further extends the relationship between Foster Wheeler and Shanghai Boiler Works, which dates back over 15 years for projects in
,
and other parts of the world," said Raymond J. Milchovich, chairman, president and CEO of Foster Wheeler.
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