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Foster Wheeler acquires South African engineering firm

1:57 AM MDT | March 13, 2014 | Natasha Alperowicz

Foster Wheeler announced today that it has entered into a an agreement with MDM Engineering Group (Johannesburg) to acquire all of the ordinary shares and options in issue of MDM Engineering in a cash transaction valued at approximately $109 million. The transaction is subject to MDM Engineering shareholder approval and other closing conditions.   “MDM Engineering is a strong fit for Foster Wheeler’s minerals and metals strategy to enhance global capability and capacity,” says Kent Masters, Foster Wheeler’s CEO. MDM Engineering Group...

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