Foster Wheeler Ltd reported rise of fourth-quarter profit due to new orders. The company intends to look at acquisitions to help sustain growth this year.
Profit in the quarter was $78.1 million, or 54 cents per share, compared with $63.1 million, or 44 cents per share, a year earlier.
Excluding special items, the company earned $80.6 million, or 56 cents per share, down from $85.9 million, or 60 cents, a year ago.
Operating revenue increased to $1.47 billion from $1.19 billion.
Foster-Wheeler is a global conglomerate with a focus on Engineering, Construction and Procurement and power, which form two different groups of the company. The company was formed in 1927 by the merger of a power company (created by the Foster family) with Wheeler Condenser and Engineering Company.
Foster Wheeler holds the license for many petroleum and petrochemical processes and is one of the largest employers of Chemical Engineers. Main Offices in Reading , Berkshire , Milan , Madrid , Clinton , Singapore .
Russia and Iran play in tandem to raise oil prices, while the tandem of the United States and Saudi Arabia has a goal to cause oil prices to collapse
In the region and in the worldб America and China seem to have become the major rivals. The Asia-Pacific region seems to have become the main area of this rivalry