Industry News: Political Flags, Hurricane Lawsuits, Plastic Fencing, and More

Nov 18, 2020

Political Flags, Political Speech?

According to a report in the Northwest Herald, the Illinois city of Crystal Lake received “voluminous” complaints after the contractor on one of its road projects put Trump 2020 flags on its equipment, a city attorney said. “As a result, the city of Crystal Lake now is working on language that will prohibit future contractors from displaying political signs or postings, said Victor Filippini, special counsel for the city,” as reported by Cassie Buchman.

A commentary in Construction Dive added: “The city is drafting new contract language that will prevent contractors from engaging in political activity under future contracts, but, until then, such actions are considered political speech and are protected under the First Amendment.”

Plastic Fencing Market Expected to Grow

SAN FRANCISCO – The global plastic fencing market size is expected to reach $6.14 billion by 2027, escalating at a CAGR of 4.9%, according to a new report by Grand View Research. Ease in the production and installation of plastic fencing drives its demand across residential, commercial, industrial, and agriculture sectors.

The rising number of remodeling and renovation projects in the residential and commercial sectors is projected to boost product demand. In addition, technological innovations and advancements in the production process are anticipated to propel product demand. Rising security and safety concerns are also projected to boost product demand over the coming years.

Increasing spending on infrastructure development, coupled with the expansion of the construction industry across the globe is likely to propel product demand over the forecast period. Furthermore, the properties of plastic fences, such as waterproofing and resistance to corrosion and decay, are projected to stimulate its demand, thereby driving market growth.

Hurricane Sally Lawsuits Continue to Pile Up

PENSACOLA, FL – A recent report in Construction Dive confirms that additional businesses and individuals in Pensacola, Fla., are continuing to file lawsuits against Skanska USA Civil Southeast Inc. for damages allegedly sustained after company barges for the $430 million Pensacola Bay Bridge project broke loose during Hurricane Sally in September.

“As of Nov. 16, a total of 25 lawsuits have been filed against Skanska,” writes reporter Kim Slowey. “Most of the filings made available by the Escambia County Clerk of the Circuit Court demand that Skanska cover economic losses resulting from the bridge’s closure. Many businesses have been cut off from customers, resulting in crippling economic losses, according to the first five lawsuits.”

At least one suit, however, was filed on behalf of a husband and wife who claim one of the company’s 22 errant barges damaged their dock, seawall and other property. The suits also name as a defendant engineering firm Eisman & Russo, which has a construction management and inspection contract for the project.

McDermott Secures $560 Million in New Capital to Fund Future Growth

HOUSTON – McDermott International Ltd, a provider of engineering and construction solutions to the energy industry, has secured approximately $560 million in new capital through a series of transactions expected to close by the end of the year.

McDermott has secured commitments from certain existing lenders and shareholders for these transactions, as well as approval from a steering committee comprised of certain existing letter of credit and term loan lenders. The transactions are designed to further strengthen the Company’s balance sheet, increase liquidity. and fund future growth opportunities.

“The support of the Investors and the Steering Committee reflects their confidence in our long-term business strategy and competitive position,” said David Dickson, president and CEO of McDermott. “Following on the heels of a successful restructuring earlier this year, this additional capital will further solidify our liquidity position, enabling us to continue to deliver superior project execution for our customers and consistently pursue new growth opportunities as demand for our expertise and capabilities increases.”