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June 4, 2013
Foster Wheeler acquires Mexican engineering company
Foster Wheeler AG (Zug, Switzerland; www.fwc.com) has acquired NorthAm Engineering S.A. DE CV (NorthAm; Monterrey, Mexico), a privately held engineering company.
NorthAm is one of the largest Mexican engineering and project management companies, with a track record in upstream, offshore and onshore, downstream and power projects. With its main operations in Monterrey, Mexico City and Poza Rica, the company has approximately 400 employees.
“The acquisition of NorthAm is part of our stated strategy to grow our upstream capabilities and the geographic footprint of our Global Engineering and Construction Group,” says Kent Masters, CEO of Foster Wheeler AG. “With NorthAm’s excellent reputation and strong relationships with key Mexican clients, this acquisition significantly strengthens our position in the growing Mexican market. In addition, it provides an excellent platform from which to further expand our business in the wider Latin American market.”