Bechtel Corporation announced yesterday their total revenue of $31.4 billion in 2008 and $35 billion in new contract awards, the sixth straight record year for revenue and the third straight record for new work.
– By Abby Gessner –
In its 110th year, operations in North America generated over two-thirds of the new work while Europe, the Middle East and Africa were also strong.
"With a robust backlog of work, and the strength and stability of Bechtel and its 44,000 employees, we fully expect to ride out the current difficulties and remain a premier engineer-constructor," said Chairman and CEO Riley Bechtel.
Bechtel's Oil, Gas & Chemicals business unit continues to stand out in the liquefied natural gas industry, helping customers meet the growing demand for clean and efficient energy. Bechtel National, a leading service provider to the U.S. government, turned in another profitable year. Bechtel Civil continued its project work on significant rail, motorway and airport infrastructure worldwide. Bechtel Power was prominent in both the fossil-fuel and nuclear markets. Bechtel Mining & Metals had significant growth throughout the first half of the year, but that was dampened by the impact on its customers of commodity prices falling toward the end of the year. Bechtel Communications maintained a strong position in a tough market. Bechtel also placed a renewed emphasis on opportunities in alternative energy, including solar and wind power.
Project completion highlights include the West Coast Route Modernization project in the United Kingdom, with more reliable and faster service adding 60,000 seats per day on one busy line from London to Glasgow; an LNG receiving terminal in Louisiana, one of the largest in the world; and the Sohar aluminum smelter in Oman, completed on time while training 750 Omanis in a variety of construction trades.
Additional information is available in the Bechtel Report 2009 at www.bechtel.com