Contractor Confidence Declines in July
Associated Builders and Contractors( ABC) reported recently that the Construction Backlog Indicator( CBI) remained unchanged at 8.4 months in July. However, this figure represents a decrease of 0.9 months compared to July 2023. The data was gathered from an ABC member survey conducted between July 22 and Aug. 6.
The steady backlog is primarily attributed to larger contractors, those with annual revenues exceeding $ 100 million, who are experiencing longer backlogs compared to a year ago. Conversely, smaller contractors, those with revenues below $ 50 million, have seen a decline in their backlog.
Additionally, ABC’ s Construction Confidence Index, which tracks projections for sales, profit margins and staffing levels, showed a decline in all three areas for July. Despite these drops, the index remains above 50, suggesting a continued expectation for growth over the next six months.
SANY America Appoints David Nicoll as New CEO
SANY America recently announced the appointment of David Nicoll as its new chief executive officer.
“ We welcome David to the leadership team and look forward to working closely with him as we build our brand, add value to our customers, and stimulate growth in North America,” Chairman of SANY America Fei Xiang said.“ With significant opportunities for growth ahead of us, David’ s industry experience and hard-won knowledge in both the global and United States markets, will be integral in making SANY a major player among American heavy equipment brands. I believe David is the best person to expand our mission and lead the operations of SANY America into the future.”
Nicoll, who previously served as vice president for earthmoving wheel loaders at Caterpillar, brings a wealth of experience in growing businesses and managing multiple brands, including Cat, Perkins and SEM.
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Patrick Sexton Joins OTR as Global VP of Engineering and Innovation
OTR Engineered Solutions( OTR) has appointed Patrick Sexton as the new Global Vice President of Engineering and Innovation. In his new role, Sexton will lead OTR ' s worldwide engineering team and drive the company ' s strategic growth initiatives.
“ It’ s an exciting time at OTR, as we’ re not only investing heavily in product development, but also advancing technology and building global infrastructure,” said Tom Rizzi, president and CEO.“ Patrick will be a great addition to OTR’ s executive team, and he’ ll help us continue to innovate and grow.”
Sexton brings extensive experience from the energy, electrification and automotive sectors, with a background in engineering and executive positions. He holds 10 patents and has more in the pipeline. Sexton, originally from Ireland, earned his degree in mechanical and manufacturing engineering from Munster Technical University and recently became a U. S. citizen.
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