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Displaying items by tag: PCA
US cement growth to meet expectation
08 December 2014US: Despite a late start to the construction season and weaker than expected housing start numbers, a recently released report from the Portland Cement Association (PCA) shows that cement consumption in the USA will meet 2014 forecast expectations.
The PCA's cement forecast remains essentially unchanged since the September 2014 forecast. "The United States' cement market is expected to grow by 8.2% in 2014, followed by similar rates of growth in 2015 and 2016," said PCA Chief Economist and Group Vice President Edward Sullivan. "However, minor adjustments have been made regarding the construction sub-sectors. Housing starts, for example, have been trimmed slightly compared to forecasts released earlier in 2014."
While single-family housing starts are not reaching projected levels, the report indicates a new emphasis on multi-family starts. Demographic trends and strict mortgage standards are pushing more potential homebuyers into rental units.
Additionally, the oil price environment has changed significantly since summer 2014 and these new impacts have been integrated into the forecast projections for the paving sector. Going forward, Sullivan noted that the underlying economic fundamentals are strengthening and are reflected in the labour market. Sustained gains in monthly job creation, stronger state and local tax receipts, more favourable return on investments for commercial building and stronger household formation can lead to stronger construction spending in 2015.
New PCA chairman appointed
20 November 2014US: The PCA board of directors has elected Lafarge North America's CEO John Stull as its 2014 - 15 chairman. He succeeds American Cement Co's Cary Cohrs.
"This is an important time for the PCA to champion resilient construction and advocate for critical national infrastructure funding, both of which will ensure the vitality of the cement industry," said Stull, who in addition to being a long-standing director has co-chaired the PCA Manufacturing Technical Committee.
Over a 22-year Lafarge Group career, Stull has progressed through vice president and regional president roles for US, Latin American and Sub-Saharan African businesses. He holds a chemical engineering degree from the University of Akron and is a Harvard Business School executive management programme graduate.