Like other industries, competition in plant construction is becoming fierce. Asian companies are increasing the pressure on European players’ rates and margins. The solution: Companies should treat the risk management of major projects as a lever to improve their profitability in addition to products, procurement and sales.
In the last five years, the European plant construction industry has grown considerably. During the financial crisis, it benefited from the large number of contracts it had on hand. But most plant builders struggled to expand their earnings.