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CLINTON, N.J.--(BUSINESS WIRE)--Oct. 4, 1999--Foster Wheeler Corporation's U.K. subsidiary, Foster Wheeler Energy Limited (FWEL), the international engineering contractor, and BOC Process Systems (BOC), the global industrial gases and technology supplier, have formed a ground-breaking strategic alliance to provide a broadened product offering that includes gases and related power, utilities and technologies to clients in Europe, the Middle East and Africa.

This alliance combines the expertise of the two major global companies in their respective fields and extends from business development, estimating and proposal activities to project execution.

Stephen Thornton, zone vice president, BOC Process Systems, said, "Customers in the chemical, refining and metals industries are increasingly seeking organizations able to provide a complete range of utilities and services. Power, heat and industrial gases, notably nitrogen and hydrogen, are fundamental to the operation of modern refineries and chemicals plants. Many companies can supply some of these needs, or they enter into temporary arrangements with other suppliers. The combined resources of BOC and FWEL are now available through this alliance to deliver product and service offers that are a step change beyond that of our competition."

Ian M. Bill, chairman and chief executive of FWEL, adds, "With our combined strengths in technology, market presence, project execution and plant operation, the alliance will be able to offer customers a unique and value-adding proposition, delivering what customers have been asking for: the best of everything from one capable source." Foster Wheeler will carry out the engineering, procurement and construction of projects executed under this alliance. "Foster Wheeler's substantial track record in safe and successful project execution and their global pool of skills and experience were major factors in deciding to partner with them," says Thornton. "We will also gain access to new geographies and clients with whom FWEL has strong working relationships."

Ian Bill agrees that, "Expanded business development efforts will undoubtedly benefit both BOC and Foster Wheeler. We will also benefit from increased base workload, complementing our other strategies to reduce the effects of industry cyclicality."

1.) Foster Wheeler Corporation is a global company offering, through its subsidiaries, a broad range of design, engineering, construction, manufacturing, project development and management, research, plant operations and environmental services. The Corporation's headquarters are at Clinton, N.J. For more information about Foster Wheeler, visit our World-Wide Web site at www.fwc.com.

2.) Foster Wheeler Energy Limited is part of the Engineering and Construction Group of Foster Wheeler Corporation.

3.) The BOC Group is one of the world's main suppliers of gases, and of expertise and technology associated with their production, distribution and use. It employs 38,000 people in more than 60 countries, with sales of around (pound)3.5 billion. Process Systems is one of BOC's four global 'Lines of Business' and concentrates on large on-site industrial gas supply schemes in the metals, chemicals and petroleum refining market sectors.

On 13 July 1999 it was announced that the BOC Board had agreed the terms of a combined conditional offer for The BOC Group from two other industrial gases companies, Air Liquide and Air Products. This offer will be made to BOC shareholders (subject to local securities laws) once regulatory authorities responsible for competition policy in certain countries have approved the arrangements. This process could take some months. Air Liquide and Air Products will remain separate, independent companies and the operations of BOC will be divided between them.