6 acquisitions completed during financial year and 2 subsequently “Richelieu posted solid results in the fourth quarter with sales of $453.6 million, down slightly by 0.8%, substantially comparable to those of the corresponding quarter of 2022, which posted a 15% increase in a market favorably impacted by the pandemic. Our performance attests to the strength […]
Statistics Canada: Investment in Building Construction, November 2023
Investment in building construction rose 1.7% to $19.8 billion in November. The residential sector grew 2.2% to $13.7 billion, while investment in the non-residential sector edged up 0.4% to $6.0 billion. On a constant dollar basis (2017=100), investment in building construction increased by 1.3% to $12.3 billion in November. Investment in the residential sector rises Investment in residential building construction increased 2.2% to $13.7 billion […]
Freddie Mac: Mortgage Rates Decrease to Lowest Level Since May of 2023
Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.60 percent. “Mortgage rates decreased this week, reaching their lowest level since May of 2023,” said Sam Khater, Freddie Mac’s Chief Economist. “This is an encouraging development for the housing market and in particular first-time homebuyers […]
U.S. Census Bureau: Monthly New Residential Construction, December 2023
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for December 2023: Building Permits Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,495,000. This is 1.9 percent above the revised November rate of 1,467,000 […]
Nisbet Brower Building Materials Appoints Tom Vezdos as President and COO
Nisbet Brower Building Materials, a long standing and locally owned name in the construction industry, proudly announces the appointment of Tom Vezdos as the company’s new President and Chief Operating Officer. With an impressive track record in manufacturing and construction sectors, Tom brings decades of experience to his new role, to create and lead a […]
ABC Member to Congress: Expanding Career Pathways Vital To Addressing the Construction Workforce Shortage
Testifying today on behalf of Associated Builders and Contractors before the U.S. House Committee on Education and The Workforce Subcommittee on Early Childhood, Elementary, and Secondary Education, Brandon Mabile, strategic development manager for Performance Contractors Inc., Baton Rouge, Louisiana, discussed policies needed to expand construction career pathways for high school students nationwide. Speaking at the […]
JCHS: Downturn in Home Remodeling May Bottom Out in 2024
Spending for residential improvements and repairs is expected to shrink this year for the first time since 2010, but signs point to some easing of declines by year’s end, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The LIRA […]
PPG Reports Fourth Quarter and Full-Year 2023 Financial Results
PPG reported financial results for the fourth quarter 2023. Fourth Quarter Consolidated Results Tim Knavish, PPG chairman and chief executive officer, commented on the quarter and 2023: Capping off a record year, the PPG team delivered solid year-over-year sales growth, strong adjusted earnings growth and record operating cash flow. The breadth and diversity of our […]
CSX Leads Industry in Intermodal Customer Satisfaction
CSX continues to lead the rail industry as the “top performer” in intermodal service, according to a recent survey by the Journal of Commerce (JOC). The survey, conducted between Sept. 1 and Oct. 31, involved shippers and intermodal marketing companies (IMCs). Among the four U.S. Class I railroads, CSX was voted the top performer by […]
Ambassador Supply Names Tim Richards Director of Post Frame Construction and Pole Barns
Ambassador Supply has appointed Tim Richards as its new director of post frame construction (PFC) and pole barns, effective immediately. “Tim will be an integral part of the Steel Vertical Team,” said Ambassador Supply Steel Vertical President Doug Stephens. “He brings over 30 years of manufacturing experience with a wealth of expertise in plant leadership, […]