All Construction Articles

Fluor announces record sales and profits
Fluor saw a +33% increase in sales for 2008, up from US$ 16.7 billion in 2007 to a record US$ 22.3 billion last year. Pre-tax profits jumped +71% from US$ 649 million in 2007 to US$ 1.1 billion.
Terex renegotiates debts and contemplates divestments
Terex has renegotiated its credit agreements and is now considering its options for two loss-making divisions.
Mace signs contract for UK's Shard
The UK's Mace Group has signed the contract to construct the Renzo Piano-designed Shard at London Bridge Quarter, UK with developers LBQ.
UK housebuilder Barratt at a loss
Barratt Developments, one of the UK’s largest housebuilders, reported pre-tax losses for the half year to 31 December 2008 of -£ 592 million (€ 667 million), down on the £ 194 million (€ 219 million) pre-tax profit for the same period in 2007.
German airport expansion approved
The European Commission has given approval for German authorities to give financial support for the development of two airports.
Russia and CIS cut cement production
Cement production and consumption is set to contract in Russia and the Commonwealth of Independent States (CIS) during 2009 as the impact of the global financial crisis is felt in the region
Oman seeks contractors for US$ 965 million road
Oman's Ministry of National Economy has invited tenders to build a 240 km coastal road.
Komatsu to cut jobs and production
Komatsu has announced production cuts, with six of its ten Japanese factories slowing down to two-day weeks. In addition it will cut 2000 jobs outside Japan.
Fourth quarter slows Astec growth
Astec Industries had sales of US$ 974 million last year, a +12.0% increase on 2007. However, its sales fell -11.5% in the fourth quarter of the year compared to the same period in 2007, reducing its growth for the year.
EDITOR'S COMMENT: iC's Chris Sleight talks trade shows
If there's one area that's feeling the pinch of the current economic malaise it's trade shows.
Q4 German equipment orders fall –30%
Incoming orders for German-built construction equipment and building materials machinery fell more than -30% in the final quarter of last year.
WEB EXCLUSIVE: Dubai's Waterfront calls in Sandvik rigs
Tophammer drill rigs from Sandvik being used in a dewatering well project at the Dubai Waterfront construction site are achieving faster penetration rates in sand than conventional methods, according to the company.
Construction growth slows in Western Balkans
Construction growth in the Western Balkans is expected to slow to +6% in 2009, down from +12% last year according to the latest report from PMR market research.
Acciona to sell Endesa stake for € 11,1 billion
Acciona has agreed to sell its 25,01% stake in Spanish utilities company Endesa to Enel for € 11,1 billion in cash.
IDB approvals up +18% in 2008
The Inter-American Development Bank (IDB) increased its loan and credit guarantee approvals by +18% last year to US$ 11.2 billion. Disbursements reached US$ 7.6 billion, almost US$ 500 million more than in 2007.
Hyundai on the road
Hyundai Construction Equipment held its first ‘road show’ at Nolgonda, Andhra Pradesh in India this month.
Emaar subsidiary John Laing Homes files for Chapter 11
US house builder John Laing Homes has filed for Chapter 11 bankruptcy protection. The company is owned by Dubai, UAE-based real estate developer Emaar Properties.
Saint-Gobain’s profits down
Saint-Gobain saw sales increase +1% to €43,8 billion in 2008, up from € 43,4 billion in 2007, however, operating profits fell by -11% to € 3,6 billion, down from the € 4,1 billion reported in 2007.
Lafarge sales and profits rise
Lafarge reported 2008 sales of € 19 billion, up +8% on the € 17,6 billion reported in 2007. Operating profit for the year also increased by +9% from € 3,2 billion in 2007 to € 3,5 billion last year.
Earthquake relief from ADB
The Asian Development Bank (ADB) has agreed to lend China US$ 400 million in emergency assistance to help repair schools and roads demolished and damaged in the earthquake in May last year.
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