Product category:
Design and Development Consultancy
News Release from: Foster Wheeler
Edited by the Engineeringtalk Editorial
Team on 26 February 2008
Transaction enhances biopharmaceutical
skills
Cquisition enables Foster Wheeler to re-establish its position in the North American pharmaceutical market and strengthens its position relative to key US pharmaceutical companies.
Foster Wheeler has significantly strengthened its position in the biotech and pharmaceutical markets by completing the acquisition of 100% of the stock of privately held Biokinetics from MPA Holdings This acquisition enables Foster Wheeler to re-establish its position in the North American pharmaceutical market and strengthens its position relative to key US pharmaceutical companies seeking to invest in the US and globally
This article was originally published on Engineeringtalk on 2 Feb 2001 at 8.00am (UK)
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In addition, this acquisition will provide enhanced capabilities to existing Biokinetics clients.
Terms of the transaction were not disclosed.
"The pharmaceuticals, biotechnology and healthcare market is a core market segment for Foster Wheeler and is one in which we are committed to growing our market share", says Umberto della Sala, President and Chief Operating Officer of Foster Wheeler.
"This acquisition is part of Foster Wheeler's overall strategy to complement organic growth in our global engineering and construction business with highly targeted acquisitions".
"This particular transaction enables us to expand our global presence in this sector and further enhance our existing biopharmaceutical skills base".
"We will be able to deliver comprehensive and responsive capabilities to existing, as well as new, clients, anywhere in the world".
"We have already established an excellent working relationship with Biokinetics and believe that the combination of our two companies' skills and experience will add value to pharmaceutical companies developing projects in the US and internationally".
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