Press Release Corporacion EG NorthAm Engineering
MONTERREY, MEXICO - Seale & Associates, Inc. announced that it acted as exclusive financial advisor to Corporación E.G., S.A. de C.V. ("Corporación E.G.") on the sale of NorthAm Engineering, S.A. de C.V. ("NorthAm"), one of the largest Mexican engineering and project management companies, to Foster Wheeler AG ("Foster Wheeler"). NorthAm has approximately 400 employees with its main operations based in Monterrey, Mexico City and Poza Rica with a track record in upstream, offshore and onshore, downstream and power projects in North America. The acquisition of Northam is part of a strategic initiative by Foster Wheeler to expand its operations in the growing Mexican market.
Corporación E.G., based in Monterrey, Mexico, is a leader in the design, manufacture and supply of centrifugal pumps primarily serving oil and gas, power generation, heavy industry, chemical processing, mining, and water and wastewater markets worldwide. Founded in 1979, Corporación E.G. employs more than 2,000 employees in over 90 countries with manufacturing facilities, machine shops, service centers, and offices strategically located around the world . Corporación E.G. provides products and services under the brands Ruhrpumpen, Barnes de Colombia, Barnes, WDM, and Tigerflow.
Foster Wheeler (NASDAQ:FWLT) is a global engineering and construction company and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company had approximately US$3.4 billion in total revenue in 2012 and employs approximately 13,000 professionals with specialized expertise dedicated to serving clients through two primary business groups . The Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, mining and metals, environmental, pharmaceuticals, biotechnology and healthcare industries. The Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. Foster Wheeler is based in Zug, Switzerland, and its operational headquarters office is in Reading, United Kingdom.
Seale & Associates, Inc., headquartered in Arlington, Virginia, is a global investment banking firm with extensive experience in mergers and acquisitions, corporate finance advisory, and enterprise level strategy consulting. Our professionals are trusted advisors maintaining a high level of quality and integrity while presenting innovative ideas and solutions to address our clients most complex dealings.