President’s Message – January 2017
2016 has come to a close with record breaking performance for the business and we are entering 2017 with continued optimism. In 2016 we placed significant emphasis on safety, operator and mechanic training, fleet management, fleet reliability, service offering and corporate structure. Our commitment is to position our business to reach beyond the demands of our customers in a growing industry.
In 2016 we endured a grueling national political environment that ended with a President that has brought optimism in America and in the economic outlook of our country. The work is beginning as he addresses the challenges of favorable trade agreements, healthcare, and an immigration policy that controls our borders without devastating families and businesses.
The concrete pumping industry pumped approximately 115 million cubic yards of concrete in 2016, which is 14% off of its high of 134 million cubic yards in 2006, and 34% up from the low in 2010. Current forecasts predict that the industry will reach 2006 levels in 2019 giving the business and our TEAM continued organic growth opportunities.
2016 was an active year for Brundage-Bone in acquisitions. Integrating acquisitions in the Southern and Southeastern states kept our M&A SWAT teams occupied domestically as we worked on our first international acquisition. In November of 2016 we closed on three businesses in the UK; Camfaud, South Coast Concrete Pumping and Premier Concrete Pumping. Through the negotiations and diligence phase we found these businesses to be very well run with great management teams and technical expertise that matches very well with ours.
Our focus continues to be able to provide the very best concrete pumping service to our customers and provide career growth to our TEAMMATES. Thanks to our customers who have pushed us to constant improvement, and thank you to the entire Brundage-BoneTEAM for your part.
“ONE TEAM ONE GOAL, DEDICATED, DEVOTED, DETERMINED”
Bruce F. Young
RELIABILITY ON A NATIONAL SCALE