Concrete equipment manufacturer Schwing America, St. Paul, Minn., has come out of Chapter 11 bankruptcy protection with a federally approved reorganization plan, new lenders and the full support of its creditors. Photo: Courtesy Schwing America With a new line of credit in place, concrete equipment firm Schwing America sees a return to solid footing in 2011. The company cited assets of $130.6 million and debts of $90.9 million when it filed for protection last September in U.S. Bankruptcy Court in St. Paul. This July, the court approved Schwing’s reorganization plan under which 10 European banks that have relationships with Schwing
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.