Photo by: Bloomberg
JOHANNESBURG (miningweekly.com) – Switzerland-headquartered global engineering and construction company and power equipment supplier Foster Wheeler plans to buy 100% of South Africa’s MDM Engineering for $109-million.
“MDM Engineering is a strong fit for Foster Wheeler’s minerals and metals strategy to enhance global capability and capacity,” said Foster Wheeler CEO Kent Masters in a statement on Thursday.
MDM, which has about 280 employees, is a mining industry-focused minerals processing and project management company, providing a range of services from preliminary and final feasibility studies, through to plant design, construction and commissioning.
The latest merger implementation agreement was not expected to affect Foster Wheeler’s February 13 definitive agreement with Amec regarding the possible “business combination” of the two companies.
The deal remained subject to MDM Engineering shareholder approval and various other conditions.