Back to top

Analyst Blog

Foster Wheeler AG (FWLT - Analyst Report) recently announced that it has acquired Mexican engineering company NorthAm Engineering S.A. DE CV for an undisclosed amount.

The acquisition of NorthAm is a strategic move by Foster Wheeler to expand its operations in the growing Mexican market. Foster Wheeler intends to include the business into its Global Engineering and Construction segment. This segment recently has been receiving a lot of contracts in the areas of front-end engineering and development. Now with NorthAm on board, Foster Wheeler intends to widen its geographic presence.  

NorthAm is one of the leading Mexican engineering and project management companies. The company has its main operations in Mexico and has a strong track record in upstream, offshore and onshore, downstream and power projects.  

Foster Wheeler has more than 60 years of experience in designing steam generator product range. Foster’s Global Engineering & Construction Group provides engineering, project management and construction management services, and purchases equipment, materials and services from third-party suppliers and contractors.

In the last reported quarter, Global Engineering and Construction group’s operating revenue was $587.9 million. The orders mainly consist of many small and medium-sized contracts. The segment ended the quarter with a backlog in future revenues of $2.7 billion. Recently, this segment received several contracts such as process design package for Moscow refinery’s crude and vacuum distillation units and the gas plant.

Foster Wheeler currently has a Zacks Rank #3 (Hold). Some other stocks which are worth a look at the moment are Orion Marine Group Inc. (ORN - Snapshot Report), Primoris Services Corporation (PRIM - Snapshot Report) and Quanta Services Corporation (PWR - Analyst Report). All three carry a Zacks Rank #2 (Buy).

Please login to or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research


Are you a new Zacks Member or a visitor to

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
PLANAR SYST… PLNR 4.44 +5.21%
BITAUTO HOL… BITA 81.71 +5.12%
CTPARTNERS… CTP 16.66 +4.26%
CHINA BIOLO… CBPO 47.91 +3.30%
MALLINCKROD… MNK 72.94 +2.85%