Abstract
Foster Wheeler has made a name for itself as a process and utility engineering and construction firm, just as capable of building a hydrogen plant as dismantling and relocating a catalytic cracking unit, or engineering the expansion of an antibiotics production plant. It is less well known for its environmental management, construction, and engineering capabilities. However, John W. Sarappo, chairman and chief executive officer of Foster Wheeler's independent subsidiary, Enviresponse, aims to make the company a keen player in hazardous waste cleanup. Although Enviresponse's 1988 revenues were $15 million, Sarappo forecasts 1989 revenues of $25 million for the Livingston, N.J.-based unit. It hopes to achieve that level of growth as much through a new asbestos abatement service it is offering to clients as through its engineering strengths. Enviresponse grew out of a recognition in the early 1980s that the oil and utility business was entering a period of slower development, says Sarappo. Seeking alternativ...
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