Mergers & Acquisitions Foster Wheeler Buys Yonkers
The Swiss engineering company Foster Wheeler has acquired Yonkers Industries, an American firm that specializes in the management of construction and commissioning of pharmaceutical and biotech facilities.
Zug/Switzerland – “The acquisition of Yonkers Industries gives our pharmaceutical business a construction management capability in North America,” said Kent Masters, Chief Executive Officer of Foster Wheeler AG. “Yonkers has a global reputation for excellence in contract execution, and the addition of this construction management capability immediately strengthens our value proposition to pharmaceutical and biotech clients.”
With offices in California, North Carolina and Puerto Rico, Yonkers Industries has approximately 200 professionals. Through its participation in a project-services partnership called Modular Partners, Yonkers also has the ability to provide modular project delivery services on a worldwide basis. The company also manages EPCm (Engineering, Procurement and Construction Management) projects for biotech and pharmaceutical facilities.
Masters added, “Foster Wheeler Biokinetics, our US-based pharmaceutical unit, will experience the most immediate benefit from this acquisition – as the client portfolios and geographic coverage of the two companies fit together quite effectively. We believe that the project and construction management skills of Yonkers are a perfect complement to the biotech engineering expertise of Biokinetics.”