Welcome to our Construction Industry News page, where we bring you the latest updates on mergers and acquisitions, key new hires, and significant industry shifts. Stay informed with breaking news and in-depth reporting to keep up with the fast-paced changes shaping the construction business.
RALEIGH, N.C. (March 27, 2014) – FMI, a provider of management consulting and investment banking* to the engineering and construction industry, released its Q1-2014 Construction Outlook. The forecast continues to show optimistic growth. As a whole, construction-put-in-place is predicted to increase 8 percent in 2014, with continued growth over the next few years.
Select market predictions include:
WASHINGTON (March 25, 2014) — The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $827 billion equipment finance sector, showed their overall new business volume for February was $5.4 billion, up 15 percent from new business volume in February 2013.
(March 24, 2014) - Last year was a good year for the equipment rental industry. According to the American Rental Association’s (ARA) Rental Market Monitor, North American equipment rental revenue totaled $38 billion in 2013, with the U.S. reporting revenue of $33.3 billion and Canada adding an additional $4.7 billion. This represents a 6.4 percent growth rate over 2012. The construction and industrial equipment rental segment is the largest segment with U.S.
INDEPENDENCE, Ohio (March 24, 2014) – Chicago Pneumatic announces their partnership with Florida-based Christy Rental Associates. The relationship between Chicago Pneumatic and Christy Rental Associates officially began on March 1, 2014.
(March 24, 2014) - KOBELCO created only five limited edition SK350LC crawler excavators wrapped in a patriotic/military design as part of a WWP fundraiser, and displayed one at the recent Las Vegas construction industry trade show, ConExpo/ConAgg.
SAN DIEGO (March 19, 2014) – Biomedical science students and faculty striving to solve the world’s most critical health problems now have access to one of the most sustainable laboratories in the country with the completion of the new Health Sciences Biomedical Research Facility at the University of California, San Diego, (UCSD) in La Jolla. A dedication ceremony was held March 6th to celebrate the completion.
WASHINGTON (March 21, 2014) – The Equipment Leasing & Finance Foundation (the Foundation) has released the March 2014 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $827 billion equipment finance sector.
McCONNELLSBURG, PA. (March 18, 2014) - JLG Industries, Inc., an Oshkosh Corporation company and a global leading manufacturer of aerial work platforms and telescopic material handlers, announced that the company was selected by United Rentals as “Strategic Supplier of the Year.” The company also won this award in 2010.
(March 18, 2014) - Nationwide housing starts were virtually unchanged in February, inching down 0.2 percent to a seasonally adjusted annual rate of 907,000 units, according to newly released data from the U.S. Department of Housing and Urban Development and U.S. Census Bureau.
(March 13, 2014) - Gray Construction of Lexington, Ky. was named the nation’s safest construction company in 2013 by the Associated General Contractors of America. The association, which oversees the Willis Construction Safety Excellence Awards, an annual ranking of construction safety programs, noted that 51 other companies were selected as winners for the quality of their safety programs.
March 17, 2014 - Builder confidence in the market for newly-built, single-family homes rose one point to 47 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released recently.
“The March HMI mirrors last month’s sentiment, as builders continued to be affected by poor weather and difficulties in finding lots and labor,” said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del.
CHICAGO, IL (March 17, 2014) - Eric S. Kline, PCS, Charles W. Roeder, P.E., Raymond H.R. Tide, D.Sc., Christopher Higgins, Ph.D., P.E., John Moebes, James M. Ricles, Ph.D., P.E., Michael Culmo, P.E., William Wood, Dr. Eng., and Terry M. Zwick are receiving distinguished achievement awards from the American Institute of Steel Construction (AISC) for their exceptional contributions to the advancement of the structural steel design and construction industry.
BIRMINGHAM, Ala. (March 14, 2014) -- Cahaba Media Group is happy to announce that it has added two employees to Construction Business Owner's sales department. Sonya Crocker has joined as the company’s marketing associate, and Sherry Smith has joined as national account executive for the magazine.
(March 7, 2014) - Construction employers added 15,000 workers to payrolls in February despite harsh winter working conditions, raising industry employment to the highest level since June 2009, according to an analysis of new government data by the Associated General Contractors of America. However, association officials noted that as the industry adds jobs many firms report they are already having a hard time finding skilled workers.
NEW ORLEANS, LA. - The American Subcontractors Association presented its 2013 Excellence in Ethics Awards to 10 construction subcontractors that achieve “the highest standards of internal and external integrity for a subcontracting firm.” The recipients are:
LAS VEGAS (March 6, 2014) -- The Naval Hospital at Marine Corps Base Camp Pendleton received two Alliant Build America awards from the Associated General Contractors of America, including Best New Building Project and the Marvin M. Black Excellence in Partnering award.
LAS VEGAS, NEV. (March 5, 2014) - With the federal Highway Trust Fund projected to be unable to support any new highway, bridge and public transportation improvements in fiscal year 2015, a national coalition of associations and labor unions announced that it is launching a campaign to help educate Congress about the connection between local jobs and federal highway and transit investment.
WASHINGTON (Feb. 25, 2014) – Associated Builders and Contractors’ (ABC) Construction Backlog Indicator (CBI) hit a post-recession high in the fourth quarter of 2013, growing from 8.2 months to 8.3 months (1.3 percent). Compared to a year ago, CBI is 3.9 percent higher—up from 8 months at the end of 2012.
(Feb. 26, 2014) - Exports of U.S.-made construction equipment dropped 25 percent in 2013 compared to the previous year for a total $20 billion shipped to global markets, according to the Association of Equipment Manufacturers (AEM), citing U.S. Commerce Department data it uses in trend reports for members. All world regions recorded declines.
NEW ORLEANS (Feb. 27, 2014) — Boh Bros. Construction Co. has agreed with the U.S. Equal Employment Opportunity Commission (EEOC) to a consent judgment which requires the company to pay $125,000 in compensatory damages to a former employee in a sex discrimination/same sex harassment case. The consent judgment cannot be appealed and effectively brings the litigation to a close.
