Waste-to Energy Plant to be Sold

July 26, 2002 [SolarAccess.com] A subsidiary of Foster Wheeler Ltd. has preliminarily agreed to sell its interests in its Hudson Falls, New York waste-to-energy plant. The counties of Warren and Washington (New York) Industrial Development Agency and Wheelabrator Technologies, Inc. are the other parties to the transaction, which will provide Foster Wheeler with cash, eliminate approximately US$52,600,000 in project debt and settle the long-outstanding litigation surrounding the plant. The sale will also result in a second-quarter charge of approximately US$31,800,000.
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