Firms Scramble to Better Positions in Quiet Market
The international contracting market this year resembles nothing so much as a duck swimming on a pond: Calm with little going on above the water, but furious activity just below the surface, as international contractors merge and acquire others in a attempt to paddle into position in a quiet market.
The overall market is essentially flat, with international contractors wondering when and whether there will be major upticks in Asia and Latin America; if the rise in oil prices will pay large dividends in the Middle East; and what the future holds for the huge U.S. market. International revenue for ENR's Top 225 International Contractors fell 2.4% in 2000 to $115.9 billion from $118.7 billion in 1999. But this downturn can be attributed to U.K.-based Kvaerner PLC's absence from the list this year. Kvaerner was last year's second-ranked international contractor with $6.54 billion in international revenue.Click here to view tabular data.