Bangladesh, Nov. 24 -- The Italian industrial conglomerate MAIRE, a major player in the global engineering and construction sector, faces a potential existential threat as a high-stakes court case unfolds in Russia. The litigation, filed by the Russian division of EuroChem, a leading chemical company, targets MAIREs subsidiary Tecnimont S.p.A. and its Russian operations. The total claims amount to approximately €2 billion, an amount strikingly close to MAIREs entire market capitalization, raising alarm bells across the companys investor base and the broader European engineering industry.

The significance of this lawsuit cannot be overstated. MAIREs market capitalization currently stands at €2.1 billion, with free cash flow of...