Foster Wheeler AG (“Foster Wheeler” or the “Company”) today announced that it has entered into a definitive agreement with AMEC plc (“AMEC”) pursuant to which AMEC will make an offer to acquire all the issued and to be issued share capital of the Company. Under the terms of the offer, AMEC will offer to exchange for each outstanding share of Foster Wheeler common stock transaction consideration consisting of 0.8998 shares of AMEC stock and $16.00 in cash.

Separately, Foster Wheeler expects to pay a one-time dividend of $0.40 per share prior to, and not conditional on, the closing of the offer. The Company expects that there will be no Swiss withholding taxes on the dividend.

Today’s announcement follows the January 13, 2014 announcement of a provisional agreement between the parties.

Based on AMEC's stock price of £10.92 per share (the close of trading on February 12, 2014) and an exchange rate of £/$1.658, the proposed transaction would value each Foster Wheeler share at approximately $32.69 and the fully diluted share capital of Foster Wheeler at approximately $3.3 billion (taking into account the proposed $0.40 dividend by the Company). This represents a premium of approximately 13.8% to $28.73, the Company's closing stock price on November 26, 2013, the trading day prior to initial public reports about a potential business combination involving the Company and AMEC, and a premium of approximately 20.4% to the 3-month volume weighted average price (measured for the three-months ending on November 26, 2013) of approximately $27.15.

Kent Masters, President and Chief Executive Officer of Foster Wheeler, said, “Both companies have strategies that are highly focused on growth, and our combination will help deliver on Foster Wheeler’s key strategic objectives: establishing material positions in upstream and minerals and metals, building positions in growth geographies and extending our services offering.” Specifically, the combination is expected to result in a company with:

Complementary and more competitive market positions in offshore and onshore upstream oil and gas, gas monetization, refining and chemicals, minerals and metals, power and clean energy, environment & infrastructure and pharmaceuticals

An expanded, geographically diverse global presence, with offices and projects in more than 50 countries

A material increase in capacity, with a total headcount of more than 40,000 employees

A strong financial profile, with annual pro forma revenues of approximately $10 billion and backlog of approximately $10 billion

The International Society of Automation (ISA) announces Peggie W. Koon, Ph.D., as its 2014 President. In this position, Dr. Koon will work with Society leaders and staff to increase awareness of the value and relevance of the ISA brand and build on ISA’s proven range of capabilities and resources for automation professionals, which includes standards development, education, training, certification, publications, and technical symposia and conferences.

Dr. Koon is vice president of Audience at Chronicle Media and The Augusta Chronicle, which are part of Morris Publishing Group, LLC, a privately held media company based in Augusta, Georgia, USA.

“I am extremely honored to serve as 2014 President of ISA, an organization which has contributed so much to both my professional and personal growth,” says Dr. Koon. “This is an exciting time for ISA; the Society is well positioned to secure new opportunities amid a highly changing world economy and global automation community.

“New and emerging technologies not only have facilitated the ability to offer automation solutions around the world, but have also changed many of the roles, responsibilities and needs of the automation professional,” she indicates. “ISA is committed to staying on the leading edge of these technological advances and global changes—to be a critical enabler—both for automation professionals to meet professional requirements and achieve career goals, and for manufacturers and other industry organizations to improve operational reliability, profitability, safety and security.”

Dr. Koon assumed her first leadership position (Membership Chair of ISA’s Management Division) within ISA in 1996. Since that time, she has held a variety of prominent roles in the Society, including:

• Director, ISA Management Division

• Vice President, ISA Industries & Sciences Department

• Vice Chair, ISA Board of Department Vice Presidents

• Society-level Committee Member, ISA Finance and Conference & Exhibit Global Oversight

• Society-level Committee Member, Honors & Awards

• ISA Executive Board and Executive Committee Member

Dr. Koon’s media career began in 2006 at Morris Digital Works (MDW), where she worked on strategic audience and revenue initiatives. She became deputy chief operating officer of the delivery division for MDW and also served as the corporate director of strategy, partnership development and management for Morris Communications and Morris Publishing Group.

Prior to joining Morris, Dr. Koon spent more than 25 years leading the development of IT systems for process automation and process control in a variety of industries--automotive, nuclear defense, aerospace, nuclear reprocessing, thermal ceramics and textiles.

Dr. Koon earned a bachelor of arts in mathematics from Smith College in Northampton, Massachusetts, USA. She completed graduate studies in industrial and systems engineering at the Georgia Institute of Technology in Atlanta, Georgia and received a doctorate degree in management information systems from Kennedy Western University in Cheyenne, Wyoming, USA.

Yokogawa Electric Corporation announces that its subsidiary, Yokogawa Electric Korea, has received an order from Hyundai Engineering & Construction, a major engineering company in South Korea, to supply a control system for a combined cycle power plant*1 that it is building for UTE*2 in Punta del Tigre. This is the first combined cycle power plant in Uruguay and the order is Yokogawa's first for a power plant in this country.

Uruguay depends largely on hydroelectric power. However, the amount of electricity that can be generated varies depending on seasonal weather-related factors, and the country must make up for shortfalls by importing electricity from neighboring countries. To increase the country's power generation capacity, UTE has commissioned the construction of a highly efficient combined cycle power plant next to its existing thermal power plant in Punta del Tigre. The new plant is expected to come online in June 2015. With an installed capacity of 520 MW, it will be Uruguay's largest thermal power plant.

For this project, Yokogawa will deliver a CENTUM® VP integrated production control system for the monitoring and control of all plant facilities, including the gas turbines, exhaust-heat-recovery boilers, and steam turbines. The company will also supply an Exaquantum™ plant information management system and DPharp EJA/EJX differential pressure/pressure transmitters, and will be responsible for the engineering, installation, and commissioning of these products. In addition, it will provide operator training services.

The winning of this order to provide a control system and other solutions for this plant, which is expected to make a significant contribution in improving the supply of power throughout the country, can be attributed to the following:

Yokogawa's solid track record in the power industry, including the combined cycle power plant segment

Our long-term relationship with Hyundai Engineering & Construction

Our excellent customer support network in South America

Interest in combined cycle power plants has risen because they generate power more efficiently and emit fewer greenhouse gases than conventional thermal power plants that use only gas or steam turbines. In comparison to thermal power plants that use coal and other fuels, combined cycle power plants do not require large-scale onsite facilities, and can thus be built more quickly and at lower cost. For such reasons, power utilities all over the world are planning to construct plants of this type at sites that have ready access to natural gas.

Encouraged by its success in winning this order, Yokogawa plans to expand its control business in the power sector, including the combined cycle power plant segment.

*1 Plants of this type rely on gas and steam turbines to generate electricity. The exhaust heat from a gas turbine is used to generate steam, which is sent to a steam turbine to generate additional electricity.

*2 La Administración Nacional de Usinas y Trasmisiones Eléctricas: Uruguay's national power company. Generates, transmits, and distributes electricity across the country.

ICONICS has a base of over 45,000 systems installed worldwide today in Building Automation and Energy Management projects. These include some of the largest building and real estate portfolios in the world, including the Pentagon in Washington, D.C., London's Heathrow Airport, several Microsoft campuses, and a large number of others.

The company’s growth is driven by its cutting edge technology leadership and a focus on open software solutions. ICONICS' solutions are based on industry standards such as BACnet, OPC UA, SNMP, Modbus and Web services. The company has been certified by the BACnet Testing Laboratory (BTL) to the highest level of BACnet compliance, the B-AWS profile. This guarantees seamless interoperability and operation with a wide variety of new or existing BMS systems and products that interface directly with energy meters and electrical monitoring systems.

“The market demand for our automation and analytics software continues to exceed our expectations. We need software/system savvy partners that can install, configure and service our solutions, to meet this demand” states, Gary Kohrt, VP of Solutions and Services.

ICONICS is seeking Building System Integrators and Energy Service providers with the ability to manage large automation and energy improvement projects. Our preference is for partners that have strong system engineering skills and, preferably, multiple Microsoft Technical Certifications.