Hyper-competitiveness in the industry seems to be abating somewhat as world economies recover. However, wary customers and unclear government policies still restrain contract awards, public engineering and construction-firm executives told investors on June 3 at a conference sponsored by New York City-based investment firm Credit Suisse. MasTec CEO Jose Mas sees economic recovery generating work in its wireless business and in renewable-energy construction. “We have as much visibility in this business as we’ve ever had,” he says, adding that up to 40% of projects already bid could start work this year. Firms hope to fuel growth and fill domestic market
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.