Technip has been awarded by Nexen Petroleum U.K. Limited a lump sum contract, worth approximately €135 million, for the Golden Eagle development located 110 kilometers North-east of Aberdeen in 115 meters of water. This contract is the largest ever awarded to Technip for a project in the United Kingdom Continental Shelf and features the reeling of mechanically lined pipe which provides a cost effective alternative for high temperature, highly corrosive materials.

• This contract covers the engineering, procurement, installation and commissioning of:

• 2 export, 1 production, 1 mechanically lined water injection and 1 gas lift flowlines(1),

• 1 main umbilical(2) and 2 subsea isolation valve umbilicals,

• subsea equipments,

• trenching and backfilling of all flowlines and umbilicals,

• tie-ins, protection, pre-commissioning and commissioning support.

Bill Morrice, Managing Director of Technip in the UK said: “This award is extremely exciting for us as it represents a key milestone in terms of contract size. We very much look forward to working with Nexen and to playing a significant part in this important field development.”

Zurich and Quartino, Dec. 12, 2011 – ABB (ABBN.VX), the leading power and automation technology group, and Newave Energy Holding SA (NWEN.S), a Switzerland based leader in uninterruptible power supply (UPS), have agreed that ABB will acquire Newave in an all-cash transaction valued at approximately CHF 170 million1. The deal will strengthen ABB’s position in the power control and quality market and provide Newave with significant growth opportunities outside its traditional markets in Europe.

Under the terms of the transaction agreement, ABB today announced a voluntary all-cash public tender offer of CHF 56 per Newave share to purchase all of Newave’s publicly held shares. The offer prospectus will be published on or around Dec. 15. The offer represents a premium of 36.0 percent to the volume-weighted average share price of the last 60 trading days and a 22.4 percent premium to Newave’s closing stock price on Dec. 9. The Committee of independent members of the Board of Directors of Newave will unconditionally recommend that Newave shareholders tender their shares in the offer.

ZUG, Switzerland--(BUSINESS WIRE)--Jan. 5, 2012-- Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Power Group has completed the purchase of Graf-Wulff GmbH, a German company that designs, manufactures and installs circulating dry ash flue gas scrubbing technology for all types of boilers in the power and industrial sectors. Terms of the transaction were not disclosed.

Graf-Wulff supplies proprietary multi-pollutant scrubbing technology that is particularly well suited for reducing emissions of sulfur dioxide, particulates, heavy metals, acid gases and other pollutants targeted by environmental regulations that are emerging in the US and Europe. Graf-Wulff scrubber and related air quality technology has been supplied to and utilized in applications across Europe, North America and Asia.

“The acquisition of Graf-Wulff establishes immediate and significant market presence for Foster Wheeler’s Global Power Group in scrubbers, fabric filters and related equipment for both new and existing utility power and industrial steam plants,” said Gary Nedelka, Chief Executive Officer of Foster Wheeler’s Global Power Group. “With the addition of Graf-Wulff’s technology to our portfolio of products and services, we can now offer our clients a full array of solutions to meet both tightening environmental regulations and the growing demand for energy.”

Invensys plc announces the appointment of Michael J (Mike) Caliel as President and CEO of Invensys Operations Management with effect from 1 January 2012.

Mike was previously with Invensys from 1993 to 2006, latterly as Chief Executive of Invensys Process Systems, the largest of the predecessor companies that were brought together to form Invensys Operations Management in early 2009. He has over 25 years experience in the industry and was until recently CEO of Integrated Electrical Services, Inc.

He is taking over from Sudipta Bhattacharya who joined the Group in 2007 as President of the Wonderware Software division and has been the leader of Invensys Operations Management since February 2009. Sudipta has decided to leave next year to take up a new role outside Invensys. In the meantime, he will be working with Mike to ensure a smooth transition of responsibilities within the division and will also be assisting on group business development in the Middle East and Asia.