After acquiring Amec Foster Wheeler in a $2.6-billion deal earlier this year, Wood Group plc has set a strategy to get some of the debt from the acquisition off its balance sheet, says CFO David Kemp.
Tutor Perini is struggling to shake off long-running concerns over the hundreds of millions in unbilled costs that have been on the contractor’s balance sheet for years.
Managers of a 90%-complete, 646-bed hospital in Liverpool will take charge of the project after unravelling a public-private partnership with the contractor Carillion Plc, which collapsed ignominiously in January.