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Construction material prices building up construction costs

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.

Read more: Construction material prices building up construction costs

Huntsman Corp. prepares to spin off Davis, Granufin pigment business

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.

Read more: Huntsman Corp. prepares to spin off Davis, Granufin pigment business

FRP Symposium, Sustainability Forum milestone highlight ACI fall convention

Sources: American Concrete Institute, Farmington Hills, Mich.; CP staff

ACI is projecting attendance of 2,000-plus engineers, architects, contractors, educators, manufacturers, and material producers from around the world for the Concrete Convention and Exposition, October 15-19 in Anaheim, Calif.

Read more: FRP Symposium, Sustainability Forum milestone highlight ACI fall convention

Feds set September deadline for employers to adopt new Form I-9

Source: U.S. Citizenship and Immigration Services

The Department of Homeland Security’s U.S. Citizenship and Immigration Services office has revised Form I-9, Employment Eligibility Verification, to be used no later than September 18, 2017, and has directed to employers to continue following existing storage and retention rules for any previously completed Form 1-9. The revised form contains new nomenclature, an expanded List of Acceptable Documents for identification and birth records, plus user-friendly, drop-down menu options for employers completing the form online. E-verify users will be able to select one of those options, linking to Form FS-240, when creating a case for an employee who has presented the document for Form I-9. The agency details the changes in a revised Handbook for Employers: Guidance for Completing Form I-9 (M-274), posted here.

Read more: Feds set September deadline for employers to adopt new Form I-9

Economist: Construction equipment sales bode well for nonresidential market

Sources: Associated Builders & Contractors, Washington, D.C.; CP staff

Weighing new Bureau of Economic Analysis (BEA) data, ABC reports that nonresidential fixed investment—a gross domestic product category embodying nonresidential construction activity—expanded at a seasonally adjusted rate of 5.2 percent in the second quarter, following a 7.2 percent jump in Q1. The expansion contributed more than 0.6 percentage point to GDP growth, due in large measure to increased construction equipment investment. The other two nonresidential fixed investment components—structures and intellectual property—also expanded, but at a slower pace.

Read more: Economist: Construction equipment sales bode well for nonresidential market