US construction companies look to the Middle East to escape recession

www.novus2.com

 
 

US pavilion at Big 5 PMV offers American manufacturers a platform to cash in on Gulf construction boom 

Dubai, UAE, 21 September, 2008: American manufacturers of plant, machinery and construction vehicles are looking to the building boom in the Middle East to hedge their stocks against the continuing recession in the United States.

 

Indicative of the troubles in the US construction industry, the Dow Jones US Heavy Construction Index has seen a 40 per cent plunge in the last year from 698.76 points down to 402.54, and with greater drops predicted, US construction companies are aiming to increase their Middle East sales to save their profit margins.

 

Highlighting this new focus on non American markets, Rick Eisminger, International Marketing Manager of Iowa based on-site cement mixing truck manufacturers, CemenTech, said: “Currently the Middle East accounts for less than five per cent of our total sales, but we plan to increase that to 20 per cent in the next few years.”

continue reading at         http://www.zawya.com/story.cfm/sidZAWYA20080921081040/US%20construction%20companies%20look%20to%20the%20Middle%20East%20to%20escape%20recession

 

 

Comments are closed.

Looking for something?

Use the form below to search the site:


Still not finding what you're looking for? Drop a comment on a post or contact us so we can take care of it!