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Related Construction Industry News

• February 2023: Crossplane Capital ("Crossplane"), a Dallas-based private equity firm, declared that it joined forces with Sal Chavarria and the company's management to purchase a controlling stake in Viking Fence, a top provider of fence rentals, sanitation rentals, fence installations, and additional building products and services to commercial and residential markets all over Texas.
• February 2023: A well-known, market-leading provider of fences and related goods and services, Phoenix Fence Corp., announced that TriWest Capital Partners had acquired a controlling interest in the company. The company will continue to be managed by the current management group at Phoenix Fence. The USD 175 million Growth Fund's sixth platform investment by TriWest is Phoenix Fence (2021 vintage).

• March 2023: HAUBNER GROUP and SEMODU AG proposed constructing Europe's most advanced production facility for modular housing to meet the German government's target of constructing 400,000 units annually. HAUBNER GROUP's current production facility in Neumarkt in der Oberpfalz will construct a production facility with a maximum floor area of 40,000 sq. m. A production line for modules focused on the manufacturing procedures used in the automotive industry will be constructed at this location. It aims to establish a technological foundation for the next industrialization stage of home development.
• January 2023: Europe's largest modular housing site began construction, thanks to TopHat, the top 3D modular housebuilder in the United Kingdom. The state-of-the-art 650,000 sq. ft plant can produce a home every hour, creating 1,000 new, highly skilled green jobs in various positions. After being constructed, the facility will be outfitted with a custom, cutting-edge robotic production line and begin shipping its first products in 2024. The new building is expected to follow "BREEAM Excellent" guidelines.

December 2023: An Eiffage-led consortium secured a significant EUR 2.54 billion (USD 2.75 billion) contract from the SGP (Société d'Études du Grand Paris) to build a segment of Line 15 in the eastern part of the Paris metro. Eiffage will oversee the design and construction of this Line 15 stretch, spanning from Bobigny (Bouquais-Picasso) to Champigny (Centre), with an anticipated inauguration in 2031.

July 2023: The European Commission has awarded over EUR 6 billion (USD 6.41 billion) in grants from the Connecting Europe Facility (CEF) to 107 transport infrastructure projects. These projects, primarily focused on railways, inland waterways, and maritime routes, aim to enhance the efficiency, sustainability, and intelligence of the trans-European transport (TEN-T) network. Some of these initiatives will also strengthen the EU-Ukraine Solidarity Lanes, which were established to streamline Ukraine's trade flows.

• November 2023: Algeco, Europe's foremost brand in modular and off-site building solutions, successfully secured a substantial order for state-of-the-art GRIDSERVE Electrical Forecourts®. The latest generation of Algeco modular buildings is playing a vital role in meeting the growing demand for GrisEnergy Electric Forecourts® across the nation.
• September 2023: The city of Malmö in southern Sweden welcomed Unity Malmö, a new student housing project consisting of five building blocks and 450 micro-living apartments. Forta PRO, in collaboration, delivered 269 modules, totaling 9,671.9 m2 for this innovative housing initiative.

• November 2022: QH plus handover sun signature show project & the two parts of the kissing bridge have been connected. With Sun Signature Show, where vortex technologies have been applied for a very attractive show, the installation of 3 orbits has been finished and handover to the investor for further progress.
• September 2022: Lotte Group has unveiled plans to create an eco-friendly smart city' complex in Vietnam, as well as a separate smart logistics center. On September 2, the firm hosted the groundbreaking ceremony for Lotte Eco Smart City Thu Thiem in Ho Chi Minh City's Thu Thiem new urban region. It plans to invest over USD 900 million in the project. The project will have a total floor area of 680,000 sqm, five basements, and multiple towers, the tallest of which will be 60 stories.

• June 2022 - Pulte Homes - a national brand of PulteGroup, Inc. - announced the opening of its newest Boston-area community, Woodland Hill. Offering 46 new construction single-family homes in the charming town of Grafton, the community is conveniently located near schools, dining, and entertainment, with the Massachusetts Bay Transportation Authority commuter rail less than a mile away. The collection of home designs at Woodland Hill includes three two-story floor plans, ranging in size from 3,013 to 4,019 sq. ft. with four to six bedrooms, 2.5-3.5 baths, and 2-3 car garages. These spacious home designs feature flexible living spaces, plenty of natural light, gas fireplaces, and the signature Pulte Planning Center®, a unique multi-use workstation perfect for homework or a family office.
• December 2022 - D.R. Horton, Inc. announced the acquisition of Riggins Custom Homes, one of the largest builders in Northwest Arkansas. The homebuilding assets of Riggins Custom Homes and related entities (Riggins) acquired include approximately 3,000 lots, 170 homes in inventory, and 173 homes in the sales order backlog. For the trailing twelve months ended November 30, 2022, Riggins closed 153 homes (USD 48 million in revenue) with an average home size of approximately 1,925 square feet and an average sales price of USD 313,600. D.R. Horton expects to pay approximately USD 107 million in cash for the purchase, and the Company plans to combine the Riggins operations with the current D.R. Horton platform in Northwest Arkansas.

• September 2022: GS Engineering and Construction partnered with German chemical giant BASF to jointly modularize a carbon capture solution, which would work as the framework for their future projects. The latest deal would focus on co-developing and translating BASF's OASE blue technology - an optimized large-scale post-combustion capture technology -- into a modular carbon capture solution. According to GS EC., OASE blue enables its user to capture carbon selectively through a liquid solution. BASF will provide data on carbon capture technology, while GS EC will standardize related designs and construction through its experience in handling large-scale petrochemical plant projects.
• March 2022: GS E&C signed a memorandum of understanding (MOU) on the modularization of biodiesel production facilities with Haldor Topsoe, a Danish company specializing in carbon reduction technologies. GS E&C plans to standardize and modularize Haldor Topsoe's HydroFlex biodiesel production technology. Haldor Topsoe will provide information on its biodiesel production technology. At the same time, GS E&C will standardize the design and construction of the plant based on its modularization expertise accumulated through large-scale refinery and chemical plant projects.

• April 2022: Clayton Homes, a national builder of both off-site and on-site homes, showed off its first single-section CrossMod home at the Manufactured Housing Institute's Congress & Expo. This gives another group of homebuyers and locations a new affordable housing option.
• January 2022: Volumetric Building Companies (VBC), one of the largest multifamily volumetric modular and components businesses in the United States, announced a merger with Polcom Group (Polcom), a premium steel modular building and custom furniture manufacturing conglomerate for the hospitality market. By combining VBC's innovative wood construction technology with Polcom's advanced steel modular system, the deal will change the way people build things. The Polycom merger comes right after VBC bought the assets of Katerra Inc., which included its offices and state-of-the-art manufacturing facility in Tracy, CA.

• November 2022: Indonesia's public works ministry proposed around 12.7 trillion rupiahs ($807.68 million) in extra funds over the next two years to speed up the construction of the country's new capital city on Borneo.
• March 2021: IKEA opened a new store in Kota Baru Parahyangan, on the outskirts of the West Java capital of Bandung, making it the Swedish furniture company's third store in Indonesia.

January, 2023: By the second quarter of 2023, the Omani Ministry of Culture, Sports, and Youth hopes to award the design, procurement, and construction contract for the Oman Cultural Complex (OCC) project, which is estimated to be built in Muscat, Al Seeb. The complex will be situated in completely manicured gardens with parking, water features, and an open cultural plaza, with a built-up area of around 73,000 sq. m.

December, 2022: The UAE company ALEC Engineering and Contracting (ALEC) plans to acquire Target Engineering Construction Company. The combined revenue of ALEC and Target Engineering, both subsidiaries of the Investment Corporation of Dubai (ICD), will be close to USD 2 billion. Using Target Engineering's substantial assets, which include an 11,000-person workforce, more than 30 marine vessels, and 52,000 sq. m of API/ASME-certified fabrication facilities, ALEC may be able increase its resources through the joint venture.