How it started
History
Foster Wheeler was formed in 1927 from a merger of the Power Specialty Company (which replaced American Water Works Supply Company, created by Pell and Ernest Foster in 1884) and the Wheeler Condenser & Engineering Company, which was created by Frederick Merriam Wheeler in 1891.
The company was originally based in New York City but later moved to Livingston, New Jersey and stayed there for nearly a quarter century before relocating to Clinton, New Jersey in 1987. In 2000, Foster Wheeler moved its incorporation to Bermuda and in 2008, it moved its incorporation to Switzerland.
The company was listed on the New York Stock Exchange in 1929.
On 26 February 2008 Foster Wheeler announced its acquisition of Biokinetics.
Foster Wheeler was acquired by AMEC plc in the second half of 2014 to form Amec Foster Wheeler. The acquisition coincided with a downturn in the price of crude oil which depressed the market for services to the energy industry and left the merged company with substantial debt. Amec Foster Wheeler was bought by and merged into Wood Group in October 2017. Wood Group was later sold to Sidara, a Dubai-based engineering and design firm, in 2025.
From Wikipedia’s article on Foster Wheeler, shared under CC BY-SA 4.0.3