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Major GC Swinerton establishes Mass Timber practice

Sources: Swinerton Builders, San Francisco; CP staff

Amid a growing schedule of wood-framed commercial projects in its California home base, Colorado and Oregon, general contractor Swinerton Builders has announced a namesake Mass Timber team. Members will shape the paths for delivering financially-viable mass timber structures, working with peers and key partners across the country to develop, design and deliver projects bearing engineered wood specs.

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Tallest wood building opens on the Ides of March

Sources: Metsä Wood, Finland; CP staff

The 280-ft. (85.4-meter) Mjösa Tower in Brumunddal, Norway, officially opened March 15, becoming the global height record holder for wood building. The 18-floor development includes private residences, a hotel and commercial office space.

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Brundage-Bone parent adds Texas-sized Capital Pumping

Sources: Ballard Spahr LLP, Philadelphia; CP staff

Concrete Pumping Holdings (CPH) has announced a definitive agreement to acquire Austin-based Capital Pumping LP, which serves central, south and west Texas contractors through 12 locations. The agreement was unanimously approved by CPH’s board of directors and is expected to close in the second quarter.

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GCP answers investor maneuvers with stockholder rights plan

Sources: GCP Applied Technologies Inc., Cambridge, Mass.; CP staff

GCP directors have adopted a stockholder rights plan and declared a dividend distribution of one preferred share purchase right on each outstanding share of company common stock. The move responds to large blocks of shares changing hands in recent weeks, netting one New York hedge fund sponsor, 40 North Management LLC, a 24.6 percent ownership stake.

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Commercial project index reveals ongoing workforce imbalances

Sources: USG Corp., Chicago; U.S. Chamber of Commerce, Washington, D.C.

Surveys behind the Q1 2019 USG + Chamber of Commerce Commercial Construction Index find that the labor shortage continues to pose major challenges to the industry, causing contractors to ask skilled workers to do more work (81 percent of respondents), struggle to meet deadlines (70 percent), increase costs for new work (63 percent), and reject new projects (40 percent).

Read more: Commercial project index reveals ongoing workforce imbalances