Frank A. Lee, a chemical engineer who led publicly held Foster Wheeler Corp. during a decade of growth and innovation in the 1970s and fended off an acquisition attempt, died on Aug. 12 in Old Tappan, N.J. He was 88.LEELee was named president and CEO of the contractor-manufacturer in 1971, after difficulties in its boiler business had led to several years of revenue falloff. He noted the firm's "image problem in the market" in a 1974 Forbes magazine article.Lee helped expand the firm's global markets and presided over technical advances in fluidized-bed power-generation design and construction. But he opted not
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.