GE and Foster Wheeler Teaming to Speed Delivery of Vital Mining Solutions

ATLANTA—October 26, 2011—The capacity shortfalls challenging many sectors of the mining industry may see faster relief and cleaner, more efficient operations. GE Energy (NYSE: GE) and Foster Wheeler Chile, a subsidiary of Foster Wheeler AG, a global engineering, procurement and construction company with projects throughout the world, are working together to help companies in the mining industry in South America address these challenges. The two companies today announced a portfolio of mining infrastructure solutions that can deliver energy, processing systems, water management and waste management from their combined mining expertise, technologies, engineering and onsite services.

“With labor shortages, capital challenges, lower mineral ore grades and complex infrastructures, mining companies have a number of challenges to overcome,” said Jose Luis Fernandez, general manager, Foster Wheeler Chile S. A. “Our ‘customized-modular’ solutions provide more capability and can cut manpower requirements. We’re giving the mining industry a reliable path to meet its growth potential.”

GE Energy and Foster Wheeler Chile S. A. together are solving productivity and processing problems, including crushing, grinding, transportation, water availability and environmentally sound waste management, and are harnessing the energy to power it all. Potential solutions include water desalination to help increase copper output inChileand cogeneration power facilities to deliver electricity and heat to remote Chilean mines. These solutions can be replicated in other locations—speeding the development of new mine output and offering productivity improvements to existing operations.

“With rising demand, environmental considerations and the need to venture into more-remote areas, mining companies may be facing some of their biggest challenges ever,” said Keiran Coulton, president, Global Industries, GE Energy. “By thinking systems instead of products and complementing our expertise with Foster Wheeler’s, we can quickly deliver infrastructure that enables more productive mining practically anywhere.”

These joint solutions also are designed to minimize mining’s environmental impact and create more sustainable and cleaner systems. For example, energy generation solutions can reuse emissions to generate even more energy and “recycle” contaminants. Wastewater processing can safely process water for mining needs, return clean water to the earth or process it for safe consumption.

When the world’s economic picture improves, mining companies will see demand increase even more to meet growing manufacturing and energy needs. The groundwork that Foster Wheeler Chile S. A. and GE Energy are laying today will leave economies better prepared for recovery and growth for decades.

Global Industries is GE Energy’s new cross-business unit that takes the best technologies from across GE Energy’s diverse portfolio and interconnects them to maximize efficiency and results for customers in critical business sectors such as food and beverage, metals, mining, petrochemicals and unconventional fuels.

About Foster Wheeler

Foster Wheeler AG is a global engineering and construction contractor and power equipment supplier delivering technically advanced, reliable facilities and equipment. The company employs approximately 12,000 talented professionals with specialized expertise dedicated to serving its clients through one of its two primary business groups. The company’s Global Engineering and Construction Group designs and constructs leading-edge processing facilities for the upstream oil and gas, LNG and gas-to-liquids, refining, chemicals and petrochemicals, power, mining and metals, environmental, pharmaceuticals, biotechnology and healthcare industries. The company’s Global Power Group is a world leader in combustion and steam generation technology that designs, manufactures and erects steam generating and auxiliary equipment for power stations and industrial facilities and also provides a wide range of aftermarket services. The company is based in Zug, Switzerland, and its operational headquarters office is in Geneva, Switzerland. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.

About GE

GE (NYSE: GE) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company’s Web site at www.ge.com.

GE also serves the energy sector by providing technology and service solutions that are based on a commitment to quality and innovation. The company continues to invest in new technology solutions and grow through strategic acquisitions to strengthen its local presence and better serve customers around the world. The businesses that comprise GE Energy—GE Power & Water, GE Energy Management and GE Oil & Gas—work together with more than 100,000 global employees and 2010 revenues of $38 billion, to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; as well as other alternative fuels and new grid modernization technologies to meet 21st century energy needs.