Analyst Expects Construction Will Be ‘the Place To Be’ In 12 To 18 Months

Construction on Town Green to wrap in late November

Construction equipment and a bulldozer litter the path to the pedestrian bridge on The Forum side of the Oostanaula River. The construction on the Town Green is expected to reach completion in late November. (Alan Riquelmy / Rome News-Tribune)

Since acquiring Clark-Hurth Components in 1997, Dana has supplied complete high-quality, durable drivetrain solutions to local off-highway equipment manufacturers. Commonly known in the region as “Dana Spicer Clark-Hurth,” Spicer products are the exact same drivetrain products customers are accustomed to purchasing or receiving on imported machinery under the Clark-Hurth brand. “As the economies of Africa continue to grow and thrive, Dana recognizes the need to drive progress here with quality drivetrain products backed by unparalleled aftermarket service,” said Aziz Aghili, president of Dana Off-Highway Driveline Technologies. “We are fully leveraging the expertise we have gained in the global construction and mining industries to better support OEMs and equipment owners in this region.” At Bauma Africa, Dana will co-exhibit with BAE Systems Land Systems Gear Ratio (Gear Ratio), the company’s distribution partner in Southern Africa for the past 25 years. Gear Ratio provides OEMs in this region with premier Spicer drivetrain systems and components to fit into existing applications for mining, construction, agriculture, material-handling, and forestry equipment. Gear Ratio is also the only Authorized Spicer Off-Highway Service Center in Southern Africa, providing warranty repairs, product support, and spare parts distribution for both OEMs and the aftermarket.

Dana to Showcase Proven Spicer® Drivetrain Solutions for African Construction, Mining Markets at Inaugural Bauma Africa 2013

But the United States is still the best house in a lousy neighborhood. Construction Equipment Lustgarten said that the market for construction equipment has been unusual because spending on construction equipment has outpaced construction spending itself. While construction expenditures have seen only modest recovery, spending on new construction machinery accelerated in 2010 to 2012 and was far stronger than originally anticipated, he said. He said two reasons for that are hefty tax incentives that encouraged buying (100% tax bonus in 2011 resulting in a 38% gain, 50% tax credit in 2012 and 2013) and the IRS Section 179 write off of up to $500,000 in investment in new or used equipment (set to expire this year). He said anticipated equipment price increases — from a combination of more costly raw materials and interim and final Tier 4 regulations — also had an impact on purchasers. He said the price of steel, copper and aluminum, for example, will increase equipment pricing costs 3% to 5% and that Tier 4 regulations will increase costs up to 12%. And while the price increases will likely be phased in over several years the expectation of higher prices has encouraged buying now.

Sterling Construction Company Appoints Thomas R. Wright Executive Vice President & Chief Financial O

Another problem: Dirt and mud from the site gets into the water, making its daily morning treatment that much more difficult. We control the water and the water quality, said Richard Garland, direc- tor of the Rome-Floyd Parks & Recreation Authority. We treat it just like a pool. The fountain is only open from 6 to 10 p.m. It will close for the season Sept. 29 and will resume its regular hours next spring. Construction work isnt limited to the Town Green. The city also is renovating Broad Street sidewalks, which has required the removal of bicycle racks embedded in the concrete, Milam said.

Mr. Wright holds a BS in Corporate Finance from Ball State University and an MBA in Finance from Indiana University. He also holds the Certified Professional Controller (CPC) designation. Peter MacKenna, Sterling’s President and Chief Executive Officer commented, “Tom’s strong experience in a broad range of critical planning, analysis and capital allocation functions makes a perfect fit to take over leadership of our financial organization. We look forward to working with him as we progress in driving the transformation that is underway across our operations.

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