Suspected of paying bribes to secure overseas contracts, three directors of the U.K. subsidiary of France’s power-equipment and rolling-stock maker Alstom S.A., Paris, have been arrested by the British Serious Fraud Office. Money laundering and other offences also are alleged. Arrests followed dawn raids on five Alstom offices and four homes across the country on March 24. Swiss police are involved in the investigation.
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.