After decades of neglect, America is finally paying some attention to our moldering infrastructure. This renewed interest couldn’t come at better time. The American Society of Civil Engineers (ASCE) puts out an infrastructure report card every four years and the U.S. scored a less-than-sterling D+ in the 2013 edition. So, what grade will we get in four years from now?
Recently we have been seeing a solid uptick in infrastructure work in a number of different industries, including one of the major sources of our business; the power industry. As the economy rebounds, and new sources of energy are discovered everyday, more money is going towards strengthening and rebuilding the aging energy infrastructure. We have seen a marked increase in the number of heavy-duty bolts, washers, and pins that we are providing to the energy sector.
Another trend is the rise in the number of warehouse and storage facilities that are either being refurbished or built. This has led to a boom in the need for building racking, which is another major source of business for Production Materials. Companies would not invest capital in new facilities unless they saw strong demand.
One of the benefits of providing parts to industries is that we get to see the economic trends early on. By the time a project is completed and makes the headlines, we have already known for months because these companies couldn’t even start building without the parts we supply.
As economy keeps heading in a positive direction, we are optimistic that infrastructure spending will keep pace. If you have a moment, we strongly suggest that you take a closer look at the ASCE’s 2013 Report Card for America’s Infrastructure. It is quite an eye opener!