San Francisco: Bechtel, the largest US engineering company, said that its revenue grew by 15 percent in 2012, though its backlog of projects declined by 12 percent to $92bn.
The company’s $37.9bn in 2012 revenue came alongside contract awards of $23.9bn, or less than half the backlog boost it received the previous year thanks to mining and liquefied natural gas projects.
“Following a record year in 2011 when we experienced unprecedented demand for LNG projects, each of our business units delivered solid performances in 2012,” Chief Operating Officer Bill Dudley said in a statement. “We believe 2013 will be another strong year for Bechtel.”
The privately held company, which does not report profits, maintained its headcount at 53,000 employees. Managing projects from nuclear reactors and oil refineries to government services and transport, Bechtel competes with Fluor Corp and Jacobs Engineering Group Inc.
Alpine in talks with FCC on financing
Vienna: Austrian unit of Spanish construction group FCC (FCC.MC), will hold talks with its owners on how to meet its financing needs and has many options open, Chief Executive Arnold Schiefer said.
He was responding to a newspaper report that FCC was worried about Alpine’s finances and that Austria’s second-biggest construction group had to come up with another ¤150m ($192m) this year despite reaching a deal with creditors in March.
Alpine lost ¤450m in 2012 as it began to exit unprofitable projects abroad. Its creditors took a ¤150m haircut in the debt restructuring this year.
Agencies
