Foster Wheeler's Procurement Policy is to purchase equipment, materials and services on a world-wide basis that affords the most economical cost, taking into consideration quality, price, delivery, reliability, local availability and support services, using financially sound, reputable suppliers and contractors capable of satisfying the specific projects and clients requirements.

Foster Wheeler has developed its own eProcurement web site to provide our global procurement organizations with a common portal to carry out their procurement activities in order to effectively reduce cost, optimize cycle times, leverage corporate purchasing power, establish centralized reporting capabilities, and continue to be on the forefront of the latest technology. This is a secure, password protected website where user access rights are maintained according to level of responsibility. Current key functionality allows Foster Wheeler to:

• Issue secrecy agreements to suppliers
• Issue quotation requests to suppliers
• View quotation status
• Receive bids
• Issue purchase and change orders to suppliers
• Receive updated delivery information
• Distribute documents electronically
• Access Master Purchase Agreement information.
• Share supplier knowledge with all FW procurement offices
• Access a supplier database of 14,000 + records
• Gather data on new supplier capabilities through on-line registration

Additional functionality continues to be developed and our expectations are that we will ultimately have a fully integrated B2B facility that will culminate in all current work activities being conducted through the web site.