Foster Wheeler wins coke drum contract
(Bloomberg) ? Bermuda-based Foster Wheeler Ltd., a construction and engineering firm, won a contract for engineering and procurement to replace a coke drum for Flint Hill Resources LLP.
Financial terms weren?t disclosed, Hamilton-based Foster Wheeler said in a statement yesterday.
The company, managed from Clinton, New Jersey, will include the project in its fourth- quarter results.
Petroleum coke is a refinery product, said Foster Wheeler spokeswoman Ann Hooper. The contents are poured into the coke drum at high temperatures and coke is a solid residue which forms as it cools 18 hours later.
?The lighter stuff boils off and is captured,? Hooper said. ?The heavier product settles and eventually solidifies. It?s lumpy, sort of like coal.?
Wichita, Kansas-based Flint Hills Resources produces fuel and other petrochemicals at refineries in Corpus Christi, Texas, where the drum is being replaced, and Pine Bend, Minnesota.
The company is a subsidiary of privately owned Koch Industries Inc.