Foster Wheeler announced today that an indirect wholly owned subsidiary of the Company has entered into a merger implementation agreement with MDM Engineering Group Limited to acquire all of the ordinary shares and options in issue of MDM Engineering in a cash transaction valued at approximately $109 million.

The Transaction is subject to MDM Engineering shareholder approval and other closing conditions.

Kent Masters, Foster Wheeler’s Chief Executive Officer, said, “MDM Engineering is a strong fit for Foster Wheeler’s minerals and metals strategy to enhance global capability and capacity.”

Based in South Africa, MDM Engineering Group Limited is a minerals process and project management company focused on the mining industry. Founded in 2006, the company provides a wide range of services from preliminary and final feasibility studies, through to plant design, construction and commissioning. The company has approximately 280 employees. For additional information, see the company’s website at www.mdm-engineering.com.

As announced, on February 13, 2014 Foster Wheeler entered into a definitive agreement with AMEC concerning a possible business combination of the Company and AMEC. Foster Wheeler has informed AMEC of the Transaction. Foster Wheeler does not expect the Transaction to affect the timing of completion of the business combination of the Company and AMEC.

Barclays is acting as exclusive financial advisor and Latham & Watkins LLP and Conyers Dill & Pearman are acting as legal advisors to Foster Wheeler. GMP Securities is acting as exclusive financial advisor and Memery Crystal LLP and Carey Olsen are acting as legal advisors to MDM Engineering.