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Thursday, August 6, 2009

Construction down market still offers opportunities

Even with a profit slump of 57 percent caused directly by the slowdown in nonresidential construction, Canam - manufacturers of welded beams, girders and joists - sees opportunity ahead.

The lesson here is that rainmakers, creative thinkers, nimble decision makers can parlay negatives into positives.

Canam, according to a Reuters news story, reports that it intends to stay profitable for the rest of this year. And, they say that they have a broad choice of acquisition targets. Targets made accessible by the same economic slowdown that has hit Canam's own profits.

"As we enter a more challenging business environment, we've seen an increase in the number of acquisition opportunities we are presented with, and we are more than ever convinced that our strengthening balance sheet will be a great asset in the quarters to come," Reuters quotes Canam Chief Operating Officer Marc Dutil.

Canam has won the contract for the retractable roof at the new Marlins ballpark.

1 comment:

  1. The new Marlins stadium is an exciting project for South Florida. It will put lots of people to work.

    ReplyDelete