Styron to change company name to Trinseo

ZUG, SWITZERLAND: Foster Wheeler AG’s, Global Engineering and Construction Group subsidiary has receieved a contract by Preem AB (Publ) Preemraff Lysekil (Preem) to perform the basic engineering design (BED) and front-end engineering design for Preem’s Energy Savings Programme 2013 turnaround at the Preemraff Lysekil oil refinery, located north of Gothenburg on the west coast of Sweden. The basic engineering design is scheduled for completion in June 2011 and the FEED in September 2011. The Foster Wheeler contract value for this project was not disclosed.

During the basic engineering design phase, Foster Wheeler’s UK Operations will further develop these five options. This will involve determining the feasibility and extent of modifications required and estimating their associated costs. Preem then plans to select one or more options, for which Foster Wheeler will then perform the FEED to allow Preem to make a financial investment decision in October 2011.

“The team of Foster Wheeler and AspenTech developed design options for the refinery which were sophisticated, innovative and offer the potential for good energy savings returns. Preem has chosen to go forward with five of these opportunities,” said Umberto della Sala, Interim Chief Executive Officer of Foster Wheeler AG.

(C) WOC News