Dodge predicts construction starts will decline 4% in 2020 to $776 billion. The most notable drops by sector are residential (forecasted to decrease by 6% from 2019) and nonresidential buildings and nonbuilding construction (both forecasted to drop 3%).
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EIGHTY FOUR, Pa. (Nov. 14, 2019) — 84 Lumber Company announced the company has entered into a new 7-year $310 million Senior Secured Term Loan B Facility and 5-year $400 million Asset Based Revolving Credit Facility. The proceeds will be used to refinance the $307.5 million outstanding Term Loan B and $400 million ABL Revolver.
WASHINGTON (Nov. 13, 2019) – The United States Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) has released a comprehensive Technical Assistance Guide (TAG) for the construction industry. The guide will assist contractors meet their legal requirements and responsibilities for equal employment opportunity by preventing violations before they occur.
Last week, the United States Department of Transportation awarded a $25 million grant to the Port of Alaska through the department’s Better Utilizing Investment to Leverage Development (BUILD) program.
A 2-year investigation by the Associated Press found that at least 1,680 dams across the United States pose risks to the residents in the areas surrounding them. The AP reviewed federal data and identified a number of dams that are rated in poor or unsatisfactory condition.
Tutor Perini released its third quarter results last week, announcing record quarterly operating cash of $222.9 million. Skanska reported an operating profit of $221.6 million (2.15 billion Swedish kronor) in the third quarter 2019. The profit is an increase of 324% from Q3 2018 and significantly surpassed analysts’ expectations. Total revenue for Q3 was 44.5 billion Swedish kronor, up 8% from 2018.