Foster Wheeler buys Three Streams Engineering

Foster Wheeler acquires Canadian company Three Streams Engineering

Associated Press

Foster Wheeler AG said Wednesday that it bought Three Streams Engineering Ltd., a privately held Canadian engineering company.

The terms were not disclosed.

Foster Wheeler, based in Switzerland, said the acquisition is part of its strategy to increase its capabilities and the geographic reach of its global engineering and construction business.

Three Streams, located in Calgary, Alberta, is an engineering, procurement, and construction management company with projects in western Canada. It has about 450 employees.

Foster Wheeler shares fell 57 cents, or 2.6 percent, to close at $22.85.

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