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Medical construction projects growing as facilities age and new technology abounds.
Bonds Get AAA Rating for Mansfield Independent School District
Fitch Ratings assigned an 'AAA' rating to $75 million of Mansfield Independent School District’s unlimited tax school building bonds, series 2007, based on a guarantee from the Texas Permanent School Fund, whose financial insurer strength is rated 'AAA' by Fitch. Additionally, Fitch assigned an underlying 'AA-' rating on the series 2007 bonds and affirms the 'AA-' rating on the district's $563.3 million outstanding unlimited tax bonds.
The bonds were scheduled to sell via negotiation the week of May 21 to a syndicate led by Morgan Keegan. The bonds are direct obligations of the district and are payable from unlimited ad valorem taxes and further secured by the PSF guarantee. Bond proceeds will be used to refund certain outstanding maturities for interest savings.
As one of the state's fastest-growing school districts, it is the district's goal to continue expanding its financial margins. In May 2006, district voters approved a record high $241.5 million bond package for the construction of six new schools, renovation of existing schools, and construction of an additional transportation facility. The district has $132.6 million remaining authorization.
Tarkett Commercial Awards of Reuse
Tarkett Commercial names its first winners of its ReUse Environmental Recognition Award at the AIA National Convention in May. Natalie Wood of BPI and Ted Higginbotham of Tarkett Commercial helped Intertech, a major flooring contractor in Austin, Texas, utilize Tarkett’s ReUse program to reclaim more than 5,400 pounds of Azrock Cortina Classics from the San Marcos High School project. The material was returned to the Houston plant and ground up into particles usable to produce another commercial tile at the Houston facility.
Tarkett has had an on-going program to promote Reuse of material since 2003. The awards program started this year.
PBS&J Funds Summer Science Program
PBS&J, Houston, recently donated $5,000 to help fund the East Harris County Youth Program's “Explore & Experiment” project.
The donation will be used to purchase science supplies and equipment such as beakers, test tubes, and safety goggles. The “Explore & Experiment” project will provide approximately 900 at-risk students the opportunity to participate in hands-on science lessons and learning activities this summer.
The funds for this contribution are provided through The PBSJ Foundation, Inc. The PBSJ Corporation, parent company of PBS&J and PBS&J Constructors, Inc., has a long-established tradition of giving back to the communities in which its employees live and work. The PBSJ Foundation was established to further promote and support education, public charities focused on providing support for individuals and communities impacted by natural and man-made disasters, and the interests and welfare of other public charities.
“I am excited about what this grant will do for our children,” says Harris County Precinct Two Commissioner Sylvia R. Garcia. “Partnerships with companies like PBS&J help our programs continue to grow and build a positive foundation for our future.”
AGC Contractors Honored as Construction Safety Leaders
The Associated General Contractors of America (AGC) presented its AGC/Willis Construction Safety Excellence Awards, a prestigious award given to contractors with a proven safety record and cultural commitment to safety.
The awards were announced at AGC’s 88th Annual Convention held in San Antonio. The Construction Safety Excellence Awards recognize those companies that have proven both dedication and innovation to constantly improve workplace safety by making safety a companywide priority.
AGC’s awards program requires finalists to achieve zero work site fatalities and examines the contractor’s safety program. Entrants undergo a thorough screening process to ensure that their company has a commitment to a safe work site at every level of employment and has a successful safety training program, work site hazard identification and control, and safety program innovation.
AGC plays an integral role in advocating for construction safety and is active on numerous Occupational Health and Safety Administration (OSHA) committees, the American National Standards Institute Committee on Safety in Construction Demolition Operations and the Committee on Ladder Safety.
Among the first place Construction Safety Excellence Award winners are Peterson Beckner Industries, Inc. of Houston in the specialty contractor category with more than 100,000 and less than 300,000 work hour; in the building division with less than 100,000 work hours, the winner was MDI Inc., General Contractors of Irving; and building category with between 700,000 and one million work hours was Tellespsen Builders, L.P. of Houston.
Second place Construction Safety Excellence Award winners include: Dynamic Systems, Inc. of Austin in the specialty contractor division with more than one million work hours; in the building division with less than 100,000 work hours, the second place award went to Workman Commercial Construction of Austin; and CF Jordan of Dallas earned second in the building division with between 700,000 and one million work hours.
The Associated General Contractors of America (AGC) is the largest and oldest national construction trade association in the United States. AGC represents more than 32,000 firms, including 7,000 of America’s leading general contractors, and more than 11,000 specialty-contracting firms. More than 13,000 service providers and suppliers are associated with AGC through a nationwide network of chapters.
Sterling Construction Shines
Operating results for Houston-based Sterling Construction Company, Inc. for the first quarter showed revenues up 22 % over the first quarter 2006 while operating income decreased to $3.4 million from $4.4 million last year, principally due to weather-related productivity issues. The net income was $2.5 million, as compared with $3 million for the first quarter of 2006.
Approximately $68 million of construction contracts were added to backlog in the first quarter, with backlog at the end of the quarter of $394 million, comparable to the start of the year.
In light of the Company’s first quarter performance, management is reaffirming its 2007 guidance first announced on January 16, 2007, for revenues of $285 million to $310 million, pre-tax income of $20.3 million to $22.8 million, and net income of $13.4 million to $15.0 million, representing earnings per share, on a diluted basis, of between $1.13 and $1.26.
Sterling is a leading heavy civil construction company that specializes in the building and reconstruction of transportation and water infrastructure in large and growing markets in Texas. Its transportation infrastructure projects include highways, roads, bridges and light rail and its water infrastructure projects include water, wastewater and storm drainage systems.
ROMCO Receives Customer Satisfaction Recognition
ROMCO Equipment Company, with branches throughout Texas, finished 2006 as Volvo Construction Equipment’s top North American dealer in overall customer satisfaction.
Volvo CE surveys those who purchase their brand of wheel loader, excavator, motor grader, articulated haul truck, compact wheel loader, compact excavator and skid steer loader for feedback on the equipment as well as the dealers who sell and service it.
ROMCO’s overall customer satisfaction score surpassed every other Volvo CE dealer in the United States and Canada.
Volvo CE recognized ROMCO at its North American dealer meeting held this year in Salzburg, Austria.
“We take customer satisfaction very seriously,” said ROMCO President Charlie Clarkson. “Our customers have high expectations, but they’re no higher than the expectations we place on ourselves.”
“We’re very proud of this award because it shows a company-wide effort in taking care of the customer.”
Private Project Gets Platinum LEED Certification
The McKinney Green Building, a private office building in McKinney was recently awarded the Platinum LEED Certification from the United States Green Building Council. The project was officially certified through the core and shell pilot program designed specifically for builders, architects and new building owners who address sustainable design for new construction.
Austin Commercial, a subsidiary of the Dallas-based Austin Industries began construction on the three-story office building in April 2005. Designed by HDR Architecture for West World Holding Management, Inc., the 61,000SF facility conserves 60% of energy use compared to conventional office space.
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