All Construction Articles
Pulte Homes, one of America’s largest home builders, reported a third quarter net loss of –US$ 280 million, a marked improvement on the –US$ 788 million net loss recorded in the third quarter of 2007.
Terex announced job cuts as it reported financial results for the third quarter of 2008. The results showed a US$ 2.2 million charge associated with reducing staff levels with further reductions pending.
Despite the downturn in the US market and increasing competition from the Far East, concrete machinery manufacturer Schwing remains confident about its global market position.
The United Arab Emirates' Ras Al Khaimah Investment Authority (RAKIA) has signed a memorandum of understanding (MoU) with the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) to establish the US$ 5 billion Hyderabad Economic City.
The booming Russian construction industry has succumbed to the global credit squeeze and slowed after a significant turn in business confidence in the past weeks according to PMR, a market research organisation specialising in Central and Eastern Europe.
Astec Industries had sales of US$ 237 million in the third quarter of the year, up +15% on the same period last year. There was particularly strong growth in the compny’s international sales, which were up +37% to US$ 102 million – 43% of the total.
Elevator and escalator manufacturer Kone saw its sales rise +16% in the third quarter to € 1,12 billion, compared to the same period last year. Operating profit was up +13% to € 146 million.
The European Construction Industry Federation (FIEC) has called for increased investment in European infrastructure, despite the current difficulties in the global credit markets. The association has suggested the launch of bonds to finance the Trans European transport Network (TEN-T), and has highlighted the importance of infrastructure in securing long-term economic growth
Caterpillar reported record third quarter sales of US$ 12.9 billion, up +13% on the US$ 11.4 billion recorded in the same period in 2007. Despite increased sales, profits after tax fell -6% from US$ 927 million in the third quarter of 2007 to US$ 868 million in 2008.
The turmoil on global financial markets will see the Western European equipment market fall -24% this year from 2007's record high of 211796 unit sales according to economic forecasting consultant Off-Highway Research. Denmark, Ireland, Spain and the UK are expected to see particularly sharp downturns.
Construction of a new, 240 km-long coastal highway in the Batinah region of Oman will displace about 11000 people, according to local newspaper The Khaleej Times.
Brazil's São Paulo state government is to construct a BRL 800 million (US$ 364) addition to the Ferroanel railway, according to state news service Agência Estado.
The Japan Special Fund, through the Asian Development Bank (ADB), is providing a US$ 650000 grant for a feasibility study for a road project in Bhutan.
The collapse of an under-construction, 34 m-long elevated section of metro in the Indian capital New Delhi on Sunday killed two people and injured another 30, according to The Times of India.
A former Beijing vice-mayor in charge of overseeing construction projects for the Beijing 2008 Olympics has been given a death sentence, suspended for two years, for corruption, according to on-line news agency China Daily.
Cemex's net sales in the third quarter of 2008 totalled US$ 5.8 billion, a -5% decline compared to the same period last year, a company statement has revealed.
The Chinese government has announced its intention to construct over 750 hydro-electric power stations across Tibet in an effort to boost the region's electricity supply, according to state news agencies.
The redevelopment of Tottenham Court Road station has moved a major step closer as Crossrail has issued property acquisition notices that will allow main construction works at the station to begin in January 2009.
Construction of Vietnam's Thi Vai-Cai Mep International Port started this week in Tan Thanh district in the southern province of Ba Ria-Vung Tau, according to local news agency Nhan Dan.
GCC (Gulf Cooperation Council) transport ministers have approved a US$ 11 billion railway network that will link the six Gulf states - Saudi Arabia, Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates (UAE) - according to Qatar daily Gulf Times.
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