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Non-Tech : Foster Wheeler (FWC) beaten down but why

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To: wolfgangl who wrote (4)8/9/1998 4:03:00 PM
From: Evan  Read Replies (2) of 24
Wolfgang. Lump Sum Turnkey Bidding is the
common method for oil and chemical companies
to complete projects.The contractors bid
against each other for a fixed price to
design,procure and construct a plant.Cost
overuns,which are common,are a loss for the
contractor.FW is no better at it than the
others.Most of the projects are located in
Asia,Middle East or Africa.Best analysis of
these companies is profit versus billings.
Most make less than 5%.The premium company
is Fluor which sells for 57% off its high.
A turn around for most of these companies
would occur if the price of oil goes over
$20 a barrel.
FW is about a fifth of the size of FLR and
I dont see it getting any bigger.
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