Tag Archive for 'construction industry'

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Terex Corporation (NYSE:TEX) recently announced the following senior executive changes

logo_terex_rTerex Corporation (NYSE:TEX) recently announced the following senior executive changes:

  • Tim Ford, currently President, Terex Cranes, is leaving the Company to pursue other opportunities.
  • With Mr. Ford’s departure, Ken Lousberg, currently President of Terex China, will take on the role of President of Terex Cranes as well as the responsibility for Latin America previously with Mr. Ford. While Mr. Lousberg will retain responsibility for China, a Country Leader for our Chinese business will be named as soon as possible to help coordinate our business in China reporting to Mr. Lousberg. Mr. Lousberg joined Terex through the Genie acquisition in 2002 and has held several senior management positions at various Terex operations.
  • George Ellis will take on a new role as Senior Vice President, Operations Planning and President, Terex Construction. In addition to retaining his current responsibilities for Terex Construction, Government Programs and India, Mr. Ellis will assume global responsibility for the Terex Business System, sourcing, transportation, logistics, and manufacturing footprint. Mr. Ellis also joined Terex through the Genie acquisition in 2002 and has held several senior management positions at various Terex operations.
  • Scott Hensel, now Vice President, Terex Services North America has been named to the newly created position of Vice President and Managing Director, Terex Utilities and Services reporting to Ken Lousberg. In this new role, in addition to his current responsibility for managing and growing the North American services business, Mr. Hensel will also have management responsibility for the Terex Utilities business. Mr. Hensel was previously a partner at McKinsey & Company and joined Terex in 2014 to improve and grow the Terex Services North America business.
  • Kieran Hegarty, President, Terex Materials Processing will assume management responsibility for the Terex Fuchs business which will become part of the Terex Materials Processing segment.

Ron De Feo, Terex Chairman and Chief Executive Officer, commented, “While we expect to achieve substantial synergies with the announced merger with Konecranes, as we think ahead and help position the company for the merger we must continue to organize the company and operate Terex in a way that is best for the business.”

“We thank Tim Ford for his dedicated service and leadership within both the AWP segment and his current position with Terex Cranes, and wish him the best in his future endeavors,” remarked Mr. De Feo. Commenting on the new assignment for Mr. Lousberg, Mr. De Feo continued, “Ken Lousberg is the right person to lead our efforts to continue to improve our global cranes business. Ken has previously served in multiple leadership roles within our Cranes business and will be in an excellent position to start immediately with the important work of growing our Cranes business. Ken has demonstrated strong leadership skills during his tenure with Terex and I believe his increasing responsibilities will serve us and our customers well.”

Terex Corporation and Konecranes Plc have approved an agreement to combine their businesses in a merger of equals

terex_corp_headerTim Ford – President, Terex Cranes and Utilities:

We are pleased to inform you that the respective Boards of Directors of Terex Corporation and Konecranes Plc have unanimously approved an agreement to combine their businesses in a merger of equals. The new company will be called Konecranes Terex Plc and will be a global leader in Lifting and Material Handling Solutions.

The transaction is subject to approval by both Terex and Konecranes shareholders, regulatory approvals and customary closing conditions. Based on the outcome of these decisions, we are expecting closing in the first half of 2016. Until then, the two companies will continue to operate as separate and independent companies.

We are convinced that bringing these two highly complementary businesses together will create significant value for you, our customers, by enlarging our family of leading brands and broadening our geographic presence. Through this combination, you will benefit from a highly complementary product portfolio. Konecranes Terex will be the parent to a family of leading brands in the Industrial Lifting, Port Solutions, Aerial Work Platforms and Cranes sectors, including Demag®, Konecranes®, Terex® and Genie®. Our Terex®, Powerscreen®, CBI®, Terex®Fuchs and Terex®Finlay brands will continue to serve the materials processing, recycling and construction sectors. Our combined range of highly innovative products will allow us to offer you comprehensive solutions that are tailor-made for your specific needs.

Bringing together the R&D competencies of the two businesses will unleash great potential. Konecranes Terex will be well positioned to further drive technology innovation and new solution developments.

Leading up to the completion of the merger, we will continue serving your needs with our utmost dedication. Once integration is underway, we are fully committed to having a seamless transition process in place so that you will benefit from the enhanced business capabilities of the combined organization going forward.

Your contact person will be happy to answer any further questions you may have. Further details on today’s announcement are available on our website: www.terex.com/en/investor-relations.

Construction Input Prices Trend Lower in Jul

CEU2“Key input prices fell or were flat in all but one category in July and further downward pressure on input costs is likely to be reflected in next month’s report.” —ABC Chief Economist Anirban Basu.

PPI July 2015Prices for inputs to construction industries declined 0.1 percent in July after increasing 0.2 percent in June, according to the Aug. 14 producer price index release by the Bureau of Labor Statistics. Year-over-year prices were down 3 percent in July and have been down on an annual basis for each of the past eight months. Prices of inputs to nonresidential construction industries declined 0.3 percent on a monthly basis and are down 3.9 percent on a yearly basis.

“Key input prices fell or were flat in all but one category in July and it is important to note that further downward pressure on input costs is likely to be reflected in next month’s report, as well,” said Associated Builders and Contractors Chief Economist Anirban Basu.

“The state of affairs today is unprecedented,” said Basu. “Nonresidential construction spending has been recovering robustly in the U.S. in recent months—up more than 11 percent on a year-over-year basis. On top of that, the multifamily building boom continues in most major U.S. metropolitan areas.

“All things being equal, these circumstances should correspond with rising construction materials prices,” said Basu. “But as a reflection of how global the economy has become, America’s nonresidential construction recovery is taking place in the context of collapsing commodity prices. The latest round of commodity price decreases has been spawned by softening growth in China and ongoing increases in production of key inputs worldwide, including oil. However, this form of deflation should not be troubling to contractors. If anything, it will tend to boost profit margins for the average contractor, though falling commodity prices do not represent good news for construction firms heavily invested in oil and natural gas segments. These falling prices also imply slower increases in interest rates going forward, which will help extend the ongoing nonresidential construction recovery.”

Below are the key input prices for the month and the year.

  • Prices for plumbing fixtures remained flat on a monthly basis and are up 1.2 percent on a year-over-year basis.
  • Softwood lumber prices expanded 6.2 percent in July, but are 3.7 percent lower than a year ago.
  • Concrete product prices fell 0.1 percent in July, but are up 3.8 percent on a yearly basis.
  • Crude energy materials prices declined 6.2 percent in July and are down 37.8 percent on a year-over-year basis.
  • Fabricated structural metal product prices fell 0.7 percent for the month and have declined 0.4 percent on a year-over-year basis.
  • Natural gas prices declined 1.9 percent in July and are 38.4 percent lower than the same time one year ago.
  • Iron and steel prices were down 1.1 percent in July and are down 15 percent from the same time last year.
  • Prices for prepared asphalt, tar roofing, and siding fell 0.1 percent for the month and are down 0.4 percent on a year-ago basis.
  • Steel mill products prices fell 1 percent for the month and are 13.2 percent lower than one year ago.
  • Crude petroleum prices fell 12.3 percent in July and are down 48.8 percent from the same time one year ago.
  • Nonferrous wire and cable prices fell 1.3 percent on a monthly basis and are down 5.2 percent on a yearly basis.

To view the previous PPI report, click here

In Memory of Duane Arthur Wilder — February 3, 1953 – August 13, 2015

 

UnknownDuane Wilder, 62, passed away on August 13th while resting in his home in Williamsburg, VA. Born in Alpena, MI, he was the oldest son of Shirley (Keetch) and the late Arthur Wilder, and the brother of Darwin and Dennis Wilder. He is survived by his wife, Jackie (Morris) and their 3 children: Samantha Wilder, Cody Wilder, and Nicole Maaguo, along with her husband and their 3 children, Nadia, Olivia and Greyson, as well as numerous nieces and nephews. He was the first person in his family to graduate college, completing his degree at Briar Cliff College.

Duane was a respected businessman who started his career as a young co-owner of Alpena Ford Tractor, before marrying and moving to Iowa to launch a career with J.I. Case Corporation in their Manager Training program. Duane’s work ethic, business sense and friendly nature led to the first of many promotions in his career when he became Retail Operations Manager, North America for J.I. Case in Racine, WI. He would continue to rise and lead multiple agricultural and heavy equipment companies to significant growth, including his 11-year term as President of Liebherr Construction Equipment Co.

Duane took great pride in his ability to provide jobs and would surprise employees with handwritten cards after an illness or birthday. His approachable nature earned him many friends and respect within the industry, serving roles as Board Member and Treasurer for AEM (Association of Equipment Manufacturers), Board Member and Vice Chair for CE Sector, Board Member for AED Foundation (Association of Equipment Distributors), Member of AED Industry Roundtable, Life Member of and past State and National Judge for Future Farmers of America, President of Chamber of Commerce and Co-Chair Industrial Development Commission in Ida Grove, IA.

Always a proud father, Duane recently gathered with his family and grandchildren to celebrate his youngest daughter’s law school graduation in May. Arrangements are by the Nelson Funeral Home with Green Funeral Home assisting. Friends and family are invited for a ceremony to celebrate Duane’s life beginning with visitation at 9:30am on Wednesday, August 19th at Hillman Free Methodist Church, followed by a Service at 11:00am. For those who wish, memorial donations may be made to Alpena Community College Scholarship Fund for Non-Traditional Students, in lieu of flowers (http://discover.alpenacc.edu/about_acc/donate.php)

Editor’s note: I was fortunate to have had the privilege of knowing Duane during his days at CASE, AEM and his leadership role at Liebherr. His contributions to the industry made a difference and the void his passing leaves will never be filled.

CH2M Hill Completes Successful Design-Build Robindale WWTP

CH2M Hill Completes Successful Design-Build Robindale WWTP CH2M Hill Completes Successful Design-Build Robindale WWTP2