Two former officials of a California firm that bills itself as the “world’s leading provider” of specialty service control valves in global energy and industrial facilities will be sentenced on July 20 after pleading guilty to federal corruption charges for bribery and conspiracy. Six other former executives of Rancho Santa Margarita-based Control Components Inc., including ex-CEO Stuart Carson, were indicted last month by the U.S. Dept. of Justice on similar charges. Neither the firm, a unit of U.K.-based IMI plc, nor current managers were indicted. DOJ charged Carson and the five other executives with multiple counts under the Foreign Corrupt
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.