Re-domestication looking possible


Foster Wheeler Ltd. shareholders have approved a proposal to change the place of incorporation of its group holding company.

After Foster Wheeler’s board of directors unanimously approved the re-domestication of the company from Bermuda to Switzerland, shareholders were asked to vote in favour of the proposal.

The move would see Foster Wheeler establish an office in Zug, Switzerland, while the company’s operations would continue to be conducted through existing subsidiaries and branch offices located around the world.

Operational headquarters would remain in Clinton, New Jersey.

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