Cat, Vulcan would benefit big from infrastructure proposal
Caterpillar Inc. and Vulcan Materials Co. are among the companies that may benefit the most from President Barack Obama’s $50 billion infrastructure proposal to rebuild U.S. roads, railways and runways, according to a Bloomberg report. (For a detailed analysis of this propsoal, go to http://www.aggman.com/obama-reveals-50-infrastructure-proposal/)
The plan would “pick up the slack” when most of the highway stimulus funds under the $814 billion American Recovery and Reinvestment Act are used up next year, said Mike Betts, an analyst with Jefferies Group Inc. in London, according to the Bloomberg report.
Obama’s proposal would provide an economic boost and help make companies like Caterpillar more competitive, said Jim Dugan, a spokesman for the company, Bloomberg reported.
“These types of road projects put people to work quickly, which benefits the economy in the near term,” Dugan said in an e-mail, according to the report.–Tina Grady Barbaccia
From our partners
The new Sandvik Ranger surface drill rig offers renowned drilling efficiency with up to 20% lower fuel consumption
Known to many by their former name, Ranger, Sandvik’s DX series surface top hammer drill rigs all feature a revolving…
MORE FROM Aggbeat Online
SUBSCRIBE & FOLLOW
- Atlanta turning quarry into one of America's largest reservoirs943 Views
- CRH continues to eye large deals to grow the Irish aggregate company444 Views
- Nebraska company fined after loader operator dies in accident360 Views
- Quarry being converted into $20 million reservoir in Indiana217 Views
- House Majority Leader on gas tax increase: 'Let's think of something else'210 Views