Foster Wheeler acquires Biokinetics

25 February 2008 18:32  [Source: ICIS news]

HOUSTON (ICIS news)--Diversified research, construction and petrochemical conglomerate Foster Wheeler has completed the acquisition of Biokinetics, the Bermuda-based company said on Monday.

Terms were not disclosed.

Biokinetics is based in Philadelphia, US. It designs process systems used in the biopharmaceutical industry.

The Biokinetics acquisition is part of Foster's strategy to re-establish itself in the North American pharmaceutical market, the company said.

In addition, Foster said the acquisition will strengthen its position with other US pharmaceutical companies that plan to invest in the nation and around the world.

“This acquisition is part of Foster Wheeler’s overall strategy to complement organic growth in our Global Engineering & Construction business with highly targeted acquisitions.," according to a statement by Umberto della Sala, Foster's president.

By: Al Greenwood
+1 713 525 2653

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