Foster Wheeler moving operating HQ to Geneva

AP News
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Posted: Dec 17, 2009 11:41 AM

Switzerland-based engineering and construction firm Foster Wheeler AG said Thursday it is in the process of moving its operating headquarters from New Jersey to Geneva.

The company said it will continue to remain based in Zug, Switzerland.

The affected executives, including the CEO, will begin operating from Switzerland in January.

In making the decision, the company noted that nearly 85 percent of its business is currently outside of North America.