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Business: Page 112
Business
Terex finishes 2014 with a 27% profit increase but expects sales declines in 2015
Terex has released its fourth quarter and full-year earnings report and despite consecutive down quarters to finish the year, the heavy equipment manufacturer saw overall gains in both profit and sales during 2014. Sales were up 3 percent in 2014 to $7.3 billion thanks to increases in every segment except cranes. The figure met the […]
February 18, 2015
Business
Akron wants to start its own city construction company; would be an Ohio first
Contractors that bid on projects in the city of Akron, Ohio, may soon have some new competition: the city itself. Frustrated with the low levels of local workers hired on past and current city projects, Akron Mayor Don Plusquellic recently announced his plan to start a construction company run by the city, according to a […]
February 17, 2015
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February 19, 2025
Business
Nearly 50 NYC contractors, inspectors and property managers charged in bribery scheme
Earlier this week, dozens of New York City construction professionals surrendered to police and were charged as the result of a two-year city investigation that uncovered a widespread bribery scheme. According to a report from the The Daily News, 50 defendants were charged, “including 16 city inspectors, plus a host of property managers and owners, ‘expediters,’ contractors […]
February 12, 2015
Success Stories
Precision Pipeline worked around the recession and desert turtles to become one of Utah’s top contractors
Landon Floyd grew up in construction. His father ran a small excavation and pipeline company in Southern California but moved to Utah when Landon was a boy because it seemed a better place to raise a family. Although his dad handed the reins over about 10 years ago, Landon grew up working for the company. […]
February 10, 2015
Business
Volvo CE profit plummets 157% to 4Q loss; big gains in North America keep full-year sales afloat
Thanks to increased demand in North America and Europe, Volvo Construction Equipment largely weathered a rough fourth quarter to keep its full-year 2014 earnings from falling too far. However, the company expects it will have to work hard in 2015 to optimize costs for challenging market conditions in most regions. The heavy equipment manufacturer saw […]
February 9, 2015
Business
Construction adds 39,000 jobs in January
U.S. construction firms added 39,000 workers during January though the industry’s unemployment rate rose for a third consecutive month. The industry now employs 6.314 million people in the U.S., according to preliminary data from the Labor Department. January’s addition continues a 13-month streak in employment gains for the industry. That streak is likely to continue as […]
February 9, 2015
Business
Apple’s new $2 billion Arizona data HQ to create 500 construction jobs
Valued at around $700 billion and fresh off one of the company’s most successful quarters in its history, Apple isn’t stopping with the construction of a new headquarters in Palo Alto, instead spreading the wealth to Arizona’s construction industry with plans for a new data center. According to a report from the Arizona Republic, Apple will invest […]
February 5, 2015
Business
BlueLine Rental expands footprint with acquisition of Trico Equipment Inc.
BlueLine Rental has announced that it will acquire Trico Equipment Inc. for an undisclosed amount. Trico, a rental company serving New Jersey, Pennsylvania, Maryland and Texas, specializes in aerial lift equipment. Trico’s senior leadership is expected to stay with BlueLine in management roles once the acquisition is completed. “Trico is a very complementary business for BlueLine […]
February 5, 2015
Business
PCA’s Sullivan: Cement consumption on straight growth trajectory through 2017; optimism palpable at World of Concrete
Cement consumption grew by 8 percent in 2014 and is on track to grow another 8 percent in both 2016 and 2017, according to Ed Sullivan, chief economist, PCA, noting that the 100 metric million tons realized in December was the highest month total since January 2008. Sullivan made his remarks during the opening day […]
February 4, 2015
Business
Donaldson Company names COO Tod Carpenter president and CEO
Filtration manufacturer Donaldson Company has announced that, effective April 1, 2015, Chief Operating Officer Tod Carpenter will be the company’s president and chief executive officer. Currently serving as the company’s chief operating officer, Carpenter will replace Bill Cook, who will remain chairman of Donaldson’s Board of Directors. Carpenter has been with Donaldson since 1996, holding […]
February 4, 2015
Business
U.S. construction spending rises 0.4 percent in December
U.S. construction spending edged up 0.4 percent during December, ending 2014 on a positive note at a seasonally adjusted annual rate of $982 billion, according to preliminary estimates from the Commerce Department. Total spending is up 2.2 percent over December 2013. Government spending increased 1.1 percent during the month to $283.5 billion, to finish at a […]
February 3, 2015
Business
Manitowoc to split into two companies through Foodservice spin-off
Manitowoc has announced that it will split into two, independent and publicly-traded companies. The move will separate the company’s cranes and foodservice businesses through a tax-free spin-0ff of Foodservice. The spin-off is expected to be completed in the first quarter of 2016. “After a comprehensive evaluation, including a thorough review of the current and projected operating […]
January 30, 2015
Business
Antitrust suit alleges Caterpillar, Komatsu and Volvo conspired to bar Chinese construction equipment from U.S. market
International Construction Products has filed an antitrust lawsuit against the three biggest names in construction equipment, accusing them of colluding to limit competition in the U.S. The suit was filed this morning in a U.S. District Court in Wilmington, Delaware, and names Caterpillar, Komatsu America and Volvo Construction Equipment North America as defendants. The suit alleges […]
January 29, 2015
Business
Sales fall again in 4Q as CNH Industrial posts 14% profit decline for 2014 on slumping farm demand
It wasn’t nearly as bad as the third quarter, but the fourth certainly wasn’t much better for CNH Industrial which saw sales declines across all equipment and vehicle segments. Sales for the company, makers of the Case Construction and New Holland equipment brands, fell 10 percent during the quarter to $8.4 billion. Despite the drop […]
January 29, 2015
Business
ACPA forms traffic task force, plans pavement design software initiative
The American Concrete Pavement Association has announced two new initiatives for 2015: The formation of a task force for maintenance of traffic; and plans to explore options for creating a unified pavement design software approach. The maintenance of traffic (MOT) task force will help create “new information on staging construction and maintaining traffic during concrete […]
January 29, 2015
Business
Komatsu profit up 5.5% in 3Q thanks to strong construction equipment sales in North America
Helped by a weakening of the yen against the U.S. dollar as well as increased equipment sales in the Americas and Europe, Komatsu posted gains in both profit and sales during its fiscal third quarter. For the quarter, which ended December 31, net sales increased 6.4 percent over Q3 2013 to $4.2 billion (494 billion yen). […]
January 28, 2015
Business
Vermont Senator introduces $1 trillion infrastructure spending bill
A U.S. senator from Vermont has filed a bill that would designate $1 trillion over the next five years to transportation and infrastructure spending, according to a report from The Hill. Independent Sen. Bernie Sanders calls his bill the “Rebuild America Act,” noting in an op-ed piece also published by The Hill that, “a $1 trillion investment […]
January 28, 2015
Business
U.S. Chamber of Congress, AAA and ATA urge Congress to raise gas tax to fund long-term highway bill
With the Highway Trust Fund (HTF) inching ever so closer to insolvency, organizations are redoubling efforts to ensure Congress is passes a permanent fix, rather than a patch. AAA, the American Trucking Associations, and the U.S Chamber of Commerce submitted a joint letter to Congress Jan. 26 urging members of the 114th Congress to raise […]
January 27, 2015
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