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Foster Wheeler Acquires Canadian Engineering Company

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Foster Wheeler AG announced it has acquired Three Streams Engineering, Ltd., a privately held engineering company located in Calgary, Canada.

Three Streams is a multi-discipline full service engineering, procurement, and construction management company with upstream and downstream projects located in Western Canada. It has approximately 450 employees.

"The acquisition of Three Streams is part of our stated strategy to grow the upstream capabilities and the geographic footprint of our Global Engineering and Construction Group," said Kent Masters, Chief Executive Officer of Foster Wheeler AG. "Additionally, with Three Streams, we have taken a step to increase our presence in the Canadian SAGD market."

Masters said, "We are excited about the opportunities that this acquisition brings us in Canada. The combination of talents from the two companies gives us a very strong team in that market, and we welcome the employees of Three Streams to Foster Wheeler."

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