EX-25.1 12 a2135830zex-25_1.htm EXHIBIT 25.1
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Exhibit 25.1

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM T-1

STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE

o    CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b)(2)

WELLS FARGO BANK, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)

A National Banking Association
(Jurisdiction of incorporation or
organization if not a U.S. national
bank)		   94-1347393
(I.R.S. Employer
Identification No.)

101 North Phillips Avenue
Sioux Falls, South Dakota
(Address of principal executive offices)
 
57104
(Zip code)

Wells Fargo & Company
Law Department, Trust Section
MAC N9305-175
Sixth Street and Marquette Avenue, 17th Floor
Minneapolis, Minnesota 55479
(612) 667-4608
(Name, address and telephone number of agent for service)

FOSTER WHEELER LLC(1)
(Exact name of obligor as specified in its charter)

Delaware
(State or other jurisdiction of
incorporation or organization)		   22-3803814
(I.R.S. Employer
Identification No.)

Perryville Corporate Park
Clinton, New Jersey
(Address of principal executive offices)
 
08809-4000
(Zip code)

Fixed Rate Senior Secured Notes due 2011
(Title of the indenture securities)

(1)
See Table 1—List of additional obligors


Table 1

        Address of each of the Guarantors listed below is Perryville Corporate Park, Clinton, New Jersey 08809-4000.

 
   Subsidiary Guarantor
   Jurisdiction of
Incorporation
   I.R.S. Employer
Identification Number
1.   Continental Finance Company Ltd.   Bermuda   Not applicable
2.   Energy Holdings, Inc.   Delaware   32-0100498
3.   Equipment Consultants, Inc.   Delaware   22-1899985
4.   Financial Services S.a.r.l.   Luxembourg   Not applicable
5.   Foster Wheeler Holdings Ltd.   Bermuda   22-3814170
6.   Foster Wheeler Asia Limited   Delaware   22-2428000
7.   Foster Wheeler Capital & Finance Corporation   Delaware   22-3486371
8.   Foster Wheeler Constructors, Inc.   Delaware   22-2749540
9.   Foster Wheeler Development Corporation   Delaware   22-2109044
10.   FW Energie B.V.   Netherlands   Not applicable
11.   Foster Wheeler Energy Corporation   Delaware   22-2023682
12.   Foster Wheeler Energy Manufacturing, Inc.   Delaware   22-3293071
13.   Foster Wheeler Energy Services, Inc.   California   76-0271671
14.   Foster Wheeler Enviresponse, Inc.   Delaware   22-2574074
15.   Foster Wheeler Environmental Corporation   Texas   75-2512450
16.   Foster Wheeler Europe Limited   England   Not applicable
17.   Foster Wheeler Facilities Management, Inc.   Delaware   22-3144074
18.   Foster Wheeler Inc.   Delaware   22-3800664
19.   Foster Wheeler Intercontinental Corporation   Delaware   13-2884486
20.   Foster Wheeler International Corporation   Delaware   13-6152983
19.   Foster Wheeler International Holdings, Inc.   Delaware   22-3800663
20.   Foster Wheeler Middle East Corporation   Delaware   22-3229745
21.   Foster Wheeler North America Corp.   Delaware   22-3248302
22.   Foster Wheeler Power Corporation   Delaware   22-2180356
23.   Foster Wheeler Power Systems, Inc.   Delaware   22-2271893
24.   Foster Wheeler Pyropower, Inc.   New York   95-3565932
25.   Foster Wheeler Real Estate Development Corp.   Delaware   22-2571704
26.   Foster Wheeler Realty Services, Inc.   Delaware   22-3800667
27.   Foster Wheeler USA Corporation   Delaware   22-2023683
28.   Foster Wheeler Virgin Islands, Inc.   Delaware   22-3235076
29.   Foster Wheeler Zack, Inc.   Delaware   22-3388258
30.   FW Hungary Licensing Limited Liability Company   Hungary   12562895-2-18
31.   FW Mortshal, Inc.   Delaware   33-0383026
32.   HFM International, Inc.   Delaware   22-2933225
33.   PGI Holdings, Inc.   Delaware   32-0100496
34.   Process Consultants, Inc.   Delaware   22-1830450
35.   Pyropower Operating Services Company, Inc.   California   33-0249382
36.   Perryville III Trust   New York   Not applicable

2

        Item 1.    General Information.    Furnish the following information as to the trustee:

    (a)
    Name and address of each examining or supervising authority to which it is subject.

        Comptroller of the Currency
        Treasury Department
        Washington, D.C.

        Federal Deposit Insurance Corporation
        Washington, D.C.

        Federal Reserve Bank of San Francisco
        San Francisco, California 94120

    (b)
    Whether it is authorized to exercise corporate trust powers.

        The trustee is authorized to exercise corporate trust powers.

        Item 2.    Affiliations with Obligor.    If the obligor is an affiliate of the trustee, describe each such affiliation.

        None with respect to the trustee.

        No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.

Item 15.   Foreign Trustee.   Not applicable.

Item 16.
 
List of Exhibits.
 
List below all exhibits filed as a part of this Statement of Eligibility.
Exhibit 1.   A copy of the Articles of Association of the trustee now in effect.*

Exhibit 2.
 
A copy of the Comptroller of the Currency Certificate of Corporate Existence and Fiduciary Powers for Wells Fargo Bank, National Association, dated February 4, 2004.**

Exhibit 3.
 
See Exhibit 2

Exhibit 4.
 
Copy of By-laws of the trustee as now in effect.***

Exhibit 5.
 
Not applicable.

Exhibit 6.
 
The consent of the trustee required by Section 321(b) of the Act.

Exhibit 7.
 
A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.

Exhibit 8.
 
Not applicable.

Exhibit 9.
 
Not applicable.
*
Incorporated by reference to the exhibit of the same number to the trustee's Form T-1 filed as exhibit 25 to the Form T-3 dated March 3, 2004 of Trans-Lux Corporation file number 022-28721.

**
Incorporated by reference to the exhibit of the same number to the trustee's Form T-1 filed as exhibit 25 to the Form T-3 dated March 3, 2004 of Trans-Lux Corporation file number 022-28721.

***
Incorporated by reference to the exhibit of the same number to the trustee's Form T-1 filed as exhibit 25 to the Form T-3 dated March 3, 2004 of Trans-Lux Corporation file number 022-28721.

3


SIGNATURE

        Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Minneapolis and State of Minnesota on the 20th day of May 2004.

    WELLS FARGO BANK, NATIONAL ASSOCIATION

 
 
/s/ Jane Y. Schweiger
Jane Y. Schweiger
Vice President

4

EXHIBIT 6

May 20, 2004

Securities and Exchange Commission
Washington, D.C. 20549

Gentlemen:

        In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.


 
 
Very truly yours,

 
 
WELLS FARGO BANK, NATIONAL ASSOCIATION

 
 
/s/  JANE Y. SCHWEIGER      
Jane Y. Schweiger
Vice President

Exhibit 7


Consolidated Report of Condition of

Wells Fargo Bank National Association
of 101 North Phillips Avenue, Sioux Falls, SD 57104
And Foreign and Domestic Subsidiaries,
at the close of business March 31, 2004, filed in accordance with 12 U.S.C. §161 for National Banks.

 
    
   Dollar Amounts
In Millions
ASSETS          
Cash and balances due from depository institutions:          
  Noninterest-bearing balances and currency and coin       $ 13,890
  Interest-bearing balances         6,251
Securities:          
  Held-to-maturity securities         0
  Available-for-sale securities         27,661
Federal funds sold and securities purchased under agreements to resell:          
  Federal funds sold in domestic offices         1,436
  Securities purchased under agreements to resell         170
Loans and lease financing receivables:          
  Loans and leases held for sale         29,359
  Loans and leases, net of unearned income   233,785      
  LESS: Allowance for loan and lease losses   2,629      
  Loans and leases, net of unearned income and allowance         231,156
Trading Assets         8,314
Premises and fixed assets (including capitalized leases)         2,787
Other real estate owned         180
Investments in unconsolidated subsidiaries and associated companies         284
Customers' liability to this bank on acceptances outstanding         69
Intangible assets          
  Goodwill         7,915
  Other intangible assets         6,871
Other assets         11,217
       
Total assets       $ 347,560
       

LIABILITIES
 
 
 
 
 
Deposits:          
  In domestic offices       $ 240,660
    Noninterest-bearing   78,496      
    Interest-bearing   162,164      
  In foreign offices, Edge and Agreement subsidiaries, and IBFs         15,087
    Noninterest-bearing   3      
    Interest-bearing   15,084      
Federal funds purchased and securities sold under agreements to repurchase:          
  Federal funds purchased in domestic offices         18,617
  Securities sold under agreements to repurchase         3,028
Trading liabilities         4,973
Other borrowed money          
  (includes mortgage indebtedness and obligations under capitalized leases)         18,180
Bank's liability on acceptances executed and outstanding         69
Subordinated notes and debentures         4,824
Other liabilities         9,494
       
Total liabilities       $ 314,932
Minority interest in consolidated subsidiaries         70
           


EQUITY CAPITAL
 
 
 
 
 
Perpetual preferred stock and related surplus         0
Common stock         520
Surplus (exclude all surplus related to preferred stock)         23,424
Retained earnings         7,812
Accumulated other comprehensive income         802
Other equity capital components         0
       
Total equity capital         32,558
       
Total liabilities, minority interest, and equity capital       $ 347,560
       

I, James E. Hanson, Vice President of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.

James E. Hanson
Vice President

We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

Howard Atkins
Dave Hoyt		   Directors    
John Stumpf        



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FORM T-1
Table 1
SIGNATURE
Consolidated Report of Condition of Wells Fargo Bank National Association of 101 North Phillips Avenue, Sioux Falls, SD 57104 And Foreign and Domestic Subsidiaries, at the close of business March 31, 2004, filed in accordance with 12 U.S.C. §161 for National Banks.