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Foster Wheeler's 1Q09 Profit Plunges 47%

SUGAR LAND--May 11, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--Construction and engineering firm Foster Wheeler AG (NASDAQ:FWLT) (Clinton, New Jersey) has announced a first-quarter 2009 profit of $72.9 million, down 47% compared with $138.1 million in the same period last year. Chairman and CEO Raymond Milchovich said the decline is attributable to lower earnings before interest, taxes, depreciation and amortization (EBITDA) in both of its business groups. As part of the International Industrial Database, Industrial Info is tracking nearly 190 active Foster Wheeler projects worth $64.66 billion.

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