Sources: U.S. Department of Labor; CP staff
The owner of an Oregon-based Westwind Concrete is nearing completion of a two-month prison sentence for lying to Labor Department Wage and Hour Division investigators about payment of $93,000 in back wages to 27 workers on a U.S. Department of Housing and Urban Development-backed project, subject to Davis Bacon and Related Acts prevailing wage provisions.
Sources: IHS Markit Ltd., London; Procurement Executives Group
Construction costs rose again in July, according to IHS Markit and the Procurement Executives Group. The headline IHS Markit PEG Engineering and Construction Cost Index registered 51.3, down from 51.5 in June. Both material/equipment and labor had few categories with falling prices. While the material/equipment sub-index rose, the labor sub-index showed some weakness.
Sources: Huntsman Corp., The Woodlands, Texas; CP staff
Huntsman anticipates an early-August initial public offering of 22.7 million Venator Materials Plc shares, priced in the $20-$22 range and traded on the New York Stock Exchange under the VNTR symbol. The Wynard, United Kingdom-based entity encompasses Davis Colors, Granufin and other Rockwood Pigments brands Huntsman acquired in 2013.