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.
WASHINGTON, (Nov. 14, 2023) — Associated Builders and Contractors (ABC) reported today that its Construction Backlog Indicator declined to 8.4 months in October from 9.0 months in September, according to an ABC member survey conducted from Oct. 19 to Nov. 2. The reading is down 0.4 months from October 2022.
View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for October.
Nov. 20, 2023 — Komatsu, through its wholly owned subsidiary in the U.S., Komatsu America Corp., has agreed to acquire American Battery Solutions, Inc. (ABS), a battery manufacturer headquartered in Detroit, Michigan, U.S. Komatsu is planning to close the acquisition on Dec. 1, 2023, on the condition that all necessary procedures for the closing are completed.
HAMILTON, N.J. (Nov. 7, 2023) — The Dodge Momentum Index (DMI), issued by Dodge Construction Network, increased 1% in October to 181.7 (2000=100) from the revised September reading of 180.3. Over the month, the commercial component of the DMI rose 2.0%, while the institutional component retreated 1.4%.
Leaders from Volvo Group and CRH met in Eskilstuna, Sweden, on Nov. 13 to sign a Memorandum of Understanding (MoU) to collaborate on opportunities to accelerate the transition to net zero. Both organizations aim to reduce emissions. Volvo Group's target is to have 35% fully electric sales by 2030 and to be net zero in its value chain by 2040. CRH is targeting a 30% reduction in group-wide emissions by 2030 and to become a net-zero business by 2050.
PHOENIX (Nov. 13, 2023) – McCarthy Building Companies Inc. recently began construction of four new large-scale solar projects located in the Southwestern U.S. and are targeting Inflation Reduction Act (IRA) compliance. The projects, which are in varying stages of construction, will bring a combined total of over 1 gigawatt (GW) of renewable energy to communities in Arizona and Texas once fully commissioned.
WASHINGTON, (Nov. 8, 2023) — The U.S. Senate voted 50-48 to overturn President Joe Biden's decision to waive some Buy America requirements for government-funded electric vehicle (EV) charging stations, but the White House said he would veto the measure.
The White House argued the Republican bill would eliminate entirely the domestic manufacturing requirement for government-funded EV chargers "thereby harming domestic manufacturing and American jobs."
Birmingham, Ala. (Nov. 8, 2023) — Fleetio, a fleet maintenance management software-as-a-service (SaaS) company, announced it ranked 459th on the Deloitte Technology Fast 500, a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech and energy tech companies in North America. Fleetio grew 263% from 2019 to 2022, and this marks the third consecutive year the company has appeared on the list.
ST. LOUIS (Nov. 8, 2023) — Tarlton Corp. garnered the AGCMO 2023 Project of the Year Award in the Specialty Contractor/Subcontractor category for its work on the proton therapy vault concrete project for Pointcore Construction. The honor was presented to the Tarlton team Nov. 2 at the 26th Annual Construction Keystone Awards Gala.
LEBANON, Ohio (Nov. 2, 2023) — Fecon LLC, a global manufacturer of heavy-duty site preparation attachments and forestry accessories, recently acquired Treefrogg LLC, a manufacturer of tree-trimming saw attachments for skid steers and compact track loaders. The acquisition expands the right-of-way clearing solutions offered by Fecon in the forestry mulching and vegetation management industry.
WASHINGTON (Nov. 2, 2023) — The not seasonally adjusted national construction unemployment rate was 0.4% higher in September 2023 from the previous year, up from 3.4% to 3.8%. According to a state-by-state analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors (ABC), 16 states had lower unemployment rates over the same period, five were unchanged and 29 states were higher.
SCOTTSDALE, Ariz. (Nov. 7, 2023) — Foresight Intelligence, a data analytics software provider for the construction industry, has introduced new artificial intelligence (AI)-powered features for its Fleet Intelligence solution that can be controlled by voice in English and Spanish.
HAMILTON, N.J. (Oct. 18, 2023) — Total construction starts fell 6% in September to a seasonally adjusted annual rate of $1.2 trillion, according to Dodge Construction Network. Nonresidential starts lost 4%, residential starts declined 6%, and nonbuilding starts fell 9%.
NEW YORK (Oct. 25, 2023) — Schimenti Construction, a construction services firm, announced its transition to an employee stock ownership plan (ESOP). This step highlights the company's commitment to its customers, trade partners and employees while remaining dedicated to supporting a workplace culture of community, collaboration, service and safety.
Dubai, United Arab Emirates (Oct. 26, 2023) — Online crane rental platform Mycrane has appointed Jason Brough as President, USA to lead its growth in the U.S.
Based in Birmingham, Alabama, Brough will use his extensive industry expertise in revenue generation, project management and sales and marketing to drive take-up of the world’s first online crane rental service in the U.S.
SAUK CENTRE, Minn (Oct. 25th, 2023) — Felling Trailers Inc. conducted its eleventh annual online auction of an FT-3 drop deck utility trailer to benefit a nonprofit organization: Pockets of Hope. A winning bid of $5,505.00 won the auction that ended at noon on Sept. 15. The bid winner was Joe Kostreba of Sauk Centre, Minnesota.
WASHINGTON (Oct. 11, 2023) — Construction input prices increased 0.2% in September compared to the previous month, according to an Associated Builders and Contractors (ABC) analysis of U.S. Bureau of Labor Statistics Producer Price Index data released. Nonresidential construction input prices increased 0.2% for the month as well.
NEW YORK (Oct. 19, 2023) — WINT Water Intelligence, a provider of water management and leak-prevention solutions for construction, commercial, residential and industrial applications, has been selected for the ESG Impact innovation program for 2023. ESG Impact is run by RealTechX, the programs arm of real asset technology investor, Taronga Ventures.
WASHINGTON (Oct. 17, 2023) — After a strong second quarter, equipment and software investment growth is expected to slow over the remainder of the year, according to the Equipment Leasing & Finance Foundation’s Q4 update to the 2023 Equipment Leasing & Finance U.S. Economic Outlook. The report revised its annual estimate for equipment and software investment growth to 3.0%, most of which occurred during the first half of the year.
KATY, Texas (Oct. 17, 2023) — Kobelco Construction Machinery USA, a global crawler excavator and crawler crane manufacturer, announced the retirement of Greg Ballweg.
ATLANTA (Oct. 10, 2023) — Sage, a software provider for small and midsized businesses in the construction industry, announced the expansion of its construction cloud suite. With the launch of Sage Construction Management, Sage adds cloud preconstruction and project management capabilities to its construction portfolio.
