When new leadership took the reins at engineering and construction giant Foster Wheeler in 2001, getting a better grasp on the company’s wide-ranging risks was a top priority.
With 9,500 employees across 25 nations dealing with countless suppliers and customers, Foster Wheeler faced plenty of challenges. Its core business was building complex projects, such as power and chemical plants, located around the world in various regulatory environments and financed with multiple currencies. And the industry is highly cyclical, and hence vulnerable to payment risks.
