The Benefits of a Controlled Erector

If you’re considering using precast concrete for your construction project, it’s important to understand how the process works.

    1. Concrete is poured onto a wooden or steel table utilizing wire mesh, rebar, and prestressed cable. This first step is done in a controlled inside environment like our ATMI Precast plant in Aurora, Illinois.

 

  1. Once the precast concrete is cured, the pieces are transported to a construction site and erected into place.

But, that’s not quite as easy as it sounds! Most precast manufacturers have to call in an erector to get that last part completed. They may work with several different erectors depending on the location and the scope of the project. At ATMI Precast, we are fortunate to be the only precast manufacturer in the Chicagoland area to have our own controlled erector – Waubonsee Development.

What is a Controlled Erector?

Waubonsee Development is ATMI Precast’s controlled erector, meaning that the company is wholly owned by ATMI. In essence, this means that Waubonsee erects only for ATMI and is not beholden to other project schedules.

What is the Advantage of a Controlled Erector?

There are many advantages the customer benefits from when working with a team like ATMI Precast and Waubonsee Development.

    1. Accurate Sales & Estimating: ATMI Precast is able to accurately forecast from the erection side since both manufacturing and erection are under the same company.

 

    1. Consistent Crews: Waubonsee operates up to 4 crews at a time. This means that workers are able to stay on Waubonsee crews for longer periods of times and receive daily training on safety and erection protocols.

 

    1. Access to Cranes: Waubonsee Development owns its own conventional cranes for the warehouse market, which can streamline the construction process.

 

    1. Competitive Prices: Waubonsee is in a position to be very competitive when it comes to pricing since it only services ATMI Precast.

 

  1. Advanced Scheduling: Erection scheduling is planned well in advance and matches our production schedule.

Sometimes coordinating outside subcontractors and their schedules can be a hassle. Working with a team like ATMI Precast and Waubonsee Development takes that potential out of the mix.

About Waubonsee Development

Since opening its doors in 1980, Waubonsee Development has grown to employ over 70 employees. Every year Waubonsee erects more than 75 precast building systems and that number continues to grow. Skilled in a variety of projects, from construction of precast parking garages and warehouses to retail, multi-story residential buildings, and field finishing and caulking, Waubonsee Development has the talent to take on any task.

Supporting Customers Through the Steel Shortage

While general contractors are largely optimistic about the prospects for business growth in 2021, supply chain demand challenges remain. In the precast concrete industry, the rising price of steel, combined with a general shortage of material, sits at the top of that list.

The Steel Shortage

According to the Producer Price Index (PPI), iron and steel scrap has surged 50.8% in the last 12 months, including a 25.8% jump from November to December, followed by another 20.6% jump from December to January. The reason, of course – the pandemic.

When demand dropped in early 2020, steel factories significantly scaled back production, and many of those facilities are still not running at capacity. Other factors like supply chain glitches and tariffs play a part as well. But the reduced production rate is paramount as contractors grapple with delays in a variety of building materials – including steel.

Economics 101 dictates that when there’s a shortage of anything, price tends to increase. Steel prices climbed throughout Q4 of 2020 despite some predictions that they would reach their peak at the end of the year. And now, experts are saying the price will likely continue to rise throughout 2021.

For those of us in the construction industry, this shortage (and price increase) means reworks of material costs on current and upcoming projects. Many manufacturers are offering pricing proposals to contractors that expire after just one to three days – meaning contractors need to be nimble.

Rethinking Our Approach

Increased demand in the market for industrial building, COVID-related production issues, and large bulk purchasing of steel products has caused 2021 to be somewhat of a scheduling challenge.

“We typically see a 4- to 5-month backlog for precast heading into the summer construction season,” said Mike Walsh, Vice President, Business Development at ATMI Precast.

“This year that still holds true. However, the steel delivery date has now exceeded the precast dates, which is unheard of, and has caught a lot of the developers and general contractors off guard.”

Walsh says that extended schedules and much higher pricing has caused the development and contracting community to rethink their approach to these market conditions.

“We are working more closely with developers to ensure that we are doing everything we can to hold down pricing, such as long-term bulk purchasing, and providing commitments to our vendors along with attractive payment terms,” Walsh said.

ATMI Precast is also heavily engaged with the general contractor communityand works daily on revising schedules to meet steel deliveries, out of sequence work, and revising erection scenarios that allow the general contractor to work other site areas and utilities while the building construction is pushed in schedule.

“Pricing pressure and schedule pressures have not yet subsided, and we don’t see this relenting until late summer,” Walsh said. “Fortunately for ATMI Precast, we have increased production capacity and storage capacity to allow us to make product as needed without the need for long-term storage. And, because we own our erection company, we have the flexibility to relocate crews as needed,” Walsh said.

Even though we left 2020 in our rearview mirror, the ripple effect still lingers in 2021. As we look ahead, ATMI Precast is committed to doing what we can to meet demand, satisfy our customers and keep building.

“Our long-term relationships with our customer base have proven to be solid resources that allow them to make decisions knowing they have a large subcontractor supporting their decisions,” Walsh added.

Back Home Again in Indiana: Spotlight on ATMI Indy

There’s no other sporting event that’s as synonymous with its home state than the Indianapolis 500. Dubbed the “Greatest Spectacle in Racing” by a radio copywriter in 1955, the Hoosier state collectively celebrates the Indy 500. It’s a big deal – even if you aren’t a racing fan. With the 2021 race scheduled for May 30, we’re just days away from the world tuning in to what’s happening in Indianapolis. That’s why we thought it befitting to shine a light on ATMI Indy this month.

Start Your Engines: About ATMI Indy

About 30 miles due east from the Indianapolis Motor Speedway is a town called Greenfield. ATMI Indy calls Greenfield – approximate population 23,000 – its home. Strategically located along Interstate I-70, Greenfield is considered a prime location for businesses. This advantageous location allows ATMI Indy to serve a geographic market of approximately 250 miles from Indianapolis.

The Indy plant specializes in precast concrete wall panel construction – providing manufacturing, delivery, and installation of premium wall panels that offer a variety of insulation and exterior finish options. Demand for product exceeds 2.5 million square feet each year as customers continue to recognize the advantages of building with precast concrete panels.

While the plant began making panels in 2000, it wasn’t until 2003 that it became part of the ATMI Companies and was named ATMI Indy. As part of the ATMI Companies, ATMI Indy contributes to total fabrication of approximately 19,000 pieces and nine million square feet of product each year. ATMI Indy is dually certified as a PCI and NPCA manufacturer.

The Indy Team: A Winning Strategy

Drivers who qualify to race in the Indy 500 have an entire racing team behind them formulating a winning strategy. For example, because the Indianapolis Motor Speedway is 2.5 miles long with 4 distinct turns and straightaways, there’s a significant advantage for drivers who get out ahead of the pack early. Making less stops and saving as much fuel as possible is also part of that plan.

Similarly, ATMI Indy has a team behind them and a strategy in place in order to continue serving developers, contractors and designers with high-quality products and exceptional customer service. In fact, in the past few years the plant has undergone a slew of improvements.

The timeline below shows a significant number of new developments and how these enhancements strategically support increased demand, volume, and capacity.

  • Fall 2018: We removed 3 of the original casting tables from the main facility and replaced them with one 14’ casting table and one 15’ wide casting table to allow for production of a wider product. At this time our company thickness standards had evolved to 9.5”, 10.5” and 12”.
  • Winter 2018-19: We added an additional 12’ wide casting table outdoors with heat to sustain production during the winter months. This increased ATMI Indy capacity by 25%.
  • Summer 2019: We started the foundations for a new state-of-the art Batch plant to further support increased capacity.
  • Winter 2019: As capacity increases, so does need for storage. We purchased additional acreage from the Indianapolis Airport Authority, our neighbor to the south.
  • Winter 2019-20: The new Batch plant came on line to meet demand.
  • Spring 2020: We started work on our yard expansion.
  • Summer 2020: The yard expansion is completed and we have no problem filling it up.
  • Summer 2020: We take delivery of new MJ80 Mi-Jack Travel Lift to handle our new volume.

 

The Finish Line: Always Moving Forward

At the finish of the Indy 500 you’ll see the winner kissing the yard of bricks, chugging milk, and wearing a rather large wreath around their neck. And while that moment is no doubt a legendary experience for the driver, it’s not the end of the road. We feel the same way at ATMI Indy.

The past few years has brought progress and improvements that only help us build long-term and satisfying relationships with our customers. But we’re not done. Our race will never be over. While we certainly take the time to enjoy the accomplishments, our ATMI Indy team has a driver’s mentality that is always looking ahead to the next challenge.

ATMI Indy is hiring! Whether you are looking for an internship, have recently graduated, or have precast experience, we would like to hear from you. We have entry-level plant positions available. Learn more.

ATMI Precast to Earn PCI Architectural Certification

In the construction industry precast concrete has a well-known reputation as a structurally-sound and extremely durable material, but that’s not all precast concrete offers. For decades, architects and designers have purposefully selected precast concrete for its beauty as well. And because beauty is in the eye of the beholder, the possibility of any shape, style, color, and texture building with precast concrete offers is very attractive.

It’s in this vein that ATMI Precast is excited to announce we are on track to receive the Precast/Prestressed Concrete Institute (PCI) Architectural Certification in October of this year.

What is the PCI Architectural Certification Program?

The PCI Architectural Certification Program is the first of its kind. This new and improved certification criteria differentiates PCI producers in the marketplace and more accurately categorizes products in better alignment with the markets we serve. The program now includes four new categories of certification: AA, AB, AC, and AD and continues to include AT requirements. This five-category platform enables architects and other industry specifiers to define a category of certification that aligns with their project finish requirements such as tolerance, finish-type, and level of architectural complexity.

ATMI Precast will be certified in the AC category. This category covers the certification of plants producing products with architectural finishes like cladding and wall panels with plant-applied finishes like brick veneers and form liners. To ensure production capability for the types of products covered within this category, plant requirements for different cement types and colored mixtures are being implemented.

As part of the certification process, ATMI Precast was required to manufacture three mockup panels to demonstrate our ability to meet the specific category criteria for color consistency, finish quality, and forming capabilities.

Combined with our PCI-plant certification, our new architectural certification further provides architects, designers, and owners the peace of mind they need to know that the precast concrete products they are using are of the highest quality.

What Are the AC Category Requirements?

In order to earn PCI Architectural Certification in the AC category, ATMI Precast had to prove it could meet certain criteria.

AC category requirements include:

  • Manufacture one colored mixture and texture per panel
  • Manufacture thin brick
  • Produce flat panels
  • Produce flat panels with single-pour returns
  • Create 3-D form surface (reveals and liners)
  • Undergo key feature evaluation during plant audit cycle
  • Undergo two plant audits per year
  • MNL 135 (current MNL 117)
  • MNL 135 erection tolerances (current MNL 117 with modification for maximum jog)
  • PCI-certified erector

PCI precast concrete producers, like ATMI Precast, are embracing technology and applying it to the plant-cast concrete delivery system. Classifying PCI precast concrete producers based on our demonstrated capabilities to produce products of varying complexity shows our industry’s commitment to improve and collaborate.

What Does this Certification Mean for ATMI Precast Customers?

By definition, a certification represents third-party validation. Anybody can say they are the best at what they do, and they manufacture the highest-quality products. But a certification means the plant is taking great lengths to prove those claims.

From production to installation and completion, ATMI Precast’s PCI Plant Certification along with this new PCI Architectural Certification provides our partners and customers the confidence they require to work with us on current and future projects.

Building with Precast Concrete in the Summer

Here in the Midwest, summer is queen. Average highs around 80 degrees in the months of June, July and August are common. Of course, in the construction industry, summer is prime time. While we have a busy schedule year-round (thanks to our indoor, temperature-controlled precast concrete facility) many of our partners rely on ATMI Precast to meet their summer benchmarks. But it’s not all blue skies and sunshine. Sometimes Mother Nature throws us a curve ball – and we have to be prepared for it.

Precast Concrete Construction in the Heat

While temperatures in the Midwest average in the 80s during any given summer, this area is known for its mood swings – not to mention the humidity. When temperatures climb upwards toward 100° and the humidity level rises with it, safety measures become extremely important.

According to the Occupational Safety and Health Administration (OSHA), most heat-related job site deaths occur in the first three days of work, and half happen on the first day of extreme heat. Whether employees are working inside or outside, safety protocols like taking short, frequent breaks, staying hydrated, and wearing lightweight and loose-fitting clothing are key. While the safety of our ATMI Precast team is our number one priority – there’s a few other things to consider when working in extreme heat, like equipment.

Equipment can overheat in the summer just as easily as a person can. Regular checks to ensure proper coolant and oil levels are important. It’s also good practice to train operators to recognize extreme heat conditions and understand when to pull back, in order to prevent stressing your equipment.

Precast Concrete Construction in the Rain

A rain shower isn’t a deal breaker when it comes to summer construction. Like anything else, if you’re prepared for rain, operations can continue with a few modifications. Notably, the most important areas to consider are slip and fall prevention and proper use of equipment that requires electricity.

OSHA doesn’t set specific standards for working in the rain, but it does provide guidance for outdoor industries like construction. For instance, rain increases the dangers associated with using cranes, derricks, and hoists to move large objects on-site. If a construction site experiences heavy rain and wind, it could make those loads difficult to control.

When working in the rain, workers should don protective gear and visibility clothing that have a slip-proof grip. Electrical equipment should be halted and stored safely away from wet conditions – indoors if possible. When a crane is on-site, check the wire rope, chains and hook for any signs of damage. And never move or load over workers – a safety standard that should be practiced at all times, but is especially important in wet conditions.

Precast Concrete Construction in Inclement Weather

Sometimes that rain shower escalates into something bigger – a thunderstorm. It goes without saying that when severe weather rears its ugly head, all outdoor construction comes to a halt. Lightning is a serious occupational hazard for construction workers.

Supervisors and workers should keep themselves aware of the potential for severe weather – including lightning – via weather forecasts and tools. When lightning is detected, workers should immediately take cover and remain there until the threat no longer exists. That means that every worker on-site should know where shelter exists in case of emergency. If an enclosed building is not an option – taking shelter in a vehicle is next-best. It’s important to note that lightning can strike as far as 10 miles from rainfall. Once workers take shelter, they should remain there for at least 30 minutes after hearing the last thunder.

But thunder and lightning aren’t the only dangers Mother Nature can dish out. High winds rank right up there and should be treated with the same respect. The most common injuries associated with windy conditions include being hit by flying debris, eye injuries due to small particles or dust, and objects falling from high surfaces. Prevention is easy here – protect yourself with personal protective equipment and eliminate work all together if the conditions persist or become too difficult to manage.

Weather is a big factor when it comes to safely and effectively getting the job done. Preplanning, keeping an eye on conditions and using common sense when it comes to knowing when to take shelter are important pieces of any construction plan.

State of the Box Market

When the pandemic struck, many companies had to close their doors and ask their employees to begin working from home in a scramble to protect lives and livelihoods. The virus has impacted almost every part of everyday life across the planet. The future of many industries was unknown including the industrial real estate market here in the Chicagoland area.

ATMI Precast kicked off 2020 with a full industrial backlog and hit the ground running in January 2020. However, come mid-March 2020 the spread of COVID-19 impacted life as we know it which translated to an immediate loss of 25% of our backlog. Business for the remainder of the year and into 2021 was unpredictable.

To our good fortune, the Chicago industrial market roared out of the gates in 2021 despite the ongoing disruptions caused by the pandemic. Industrial demand is measured by net absorption and new leasing volume. Both indicators returned to pre-pandemic levels matching the impressive net absorption recorded during the first quarter of 2020. The total vacancy clocked in at a healthy 5.76%. This was the first decrease recorded since the first quarter of 2020. The vacancy rates in eight (8) of the twenty-two (22) industrial submarkets tracked are near all-time lows.

Leasing activity remained strong at the start of 2021, as over seventeen (17) million square feet of deals were recorded. This is the third consecutive quarter in a row this figure has increased. There were two (2) deals signed with more than one (1) million square feet. As a complement to the sustained leasing velocity found in the Chicagoland industrial market, the development pipeline remains robust. The construction activity remains strong as nearly 23.6 million square feet of industrial properties are recorded in the market, spread across fifty-nine (59) developments. Net absorption in the first quarter topped over 2.5 million square feet.

There were more than seven (7) million square feet of industrial product delivered across the Chicago metropolitan area during the first quarter of 2021. This is about 1.4 million square feet more than the industrial market delivered this time last year. Build-to-suit projects compromised 55.7% in the quarter while the remaining 44.3% were speculative developments.

Total first quarter 2021 industrial investment sales volume in the Chicago market is estimated at $862.3 million, a 67% decrease from the pre-pandemic quarterly sales volume record reported in the first quarter of 2020. Twenty (20) transactions occurred during the first quarter totaling 10.2 million square feet across thirty-three (33) buildings.

The investment community has continued to increase capital allocations to industrial real estate, creating more competition and pushing pricing to record high levels. Thus far, sales in 2021 represent a 21.4% increase in price per square foot value from the same time in 2020, with an average sale price per square foot of $84.87.

As the leader in wall panel capacity and delivery in the Chicagoland market, we continue to look ahead. ATMI Precast is committed to doing what we can to meet this increased demand, satisfy our customers, and keep providing precast solutions!

Planning for Winter Construction- Benefits of Precast

For ATMI Precast, it is that time of year when cold weather plays an immense role in the procedures, requirements, and practices that encompass concrete production. Winter conditions present a huge challenge for the construction industry. Pouring concrete is difficult when temperatures drop to near freezing. Placing concrete in cold weather can be impossible once frost sets in unless you take a lot of precautions. Frigid winter conditions not only raise construction costs significantly, but they also slow schedules and reduce worker safety.

Being in the Midwest we are affected by winter weather, yet construction projects can continue year-round. That’s because many architects, engineers, and builders know that cold weather construction can easily be completed on time, within budget, and safely by using precast concrete in winter months. Precast concrete makes it possible to complete construction projects even during the extreme weather that comes in cold winter months. Cold weather practices need to be addressed for precast manufacturers, like ourselves, to product quality products that meet specifications.

Depending on the year, we can be affected by cold weather conditions in calendar months from October through April. That is over half the year where construction projects could be delayed or halted due to frost, ice, snow, or chilling winds. Builders plan for this and look for subcontractors like us to provide precast concrete solutions.

Concrete has helped build ever imaginable structure from skyscrapers to bridges and roads. But for all its benefits, it does have downsides. It cannot properly cure when it is too cold when poured outdoors. That is quite the restriction for on-site concrete pours. With concrete projects that are cast-in-place, forms are set, and concrete is mixed on the job site or trucked in from ready-mix plants.

Low temperatures cause concrete that is curing to go inert or stop setting. Freezing during the initial cure before it reaches 5,000 psi compressive strength will cause curing concrete to fail entirely. Either way, casting concrete outside of its temperature tolerance can be a financial disaster.

Luckily, ATMI Precast provides the perfect remedy to eliminating all the problems associated with cold weather pours which is precast. Precast concrete components are carefully constructed inside factory-controlled environments that remove all the risks. This results in regulated units that meet high standards in quality, strength, and design. No matter what the weather condition is outside.

There are many benefits of using precast concrete. The first is that it is designed by knowledgeable engineers. The engineers have had years of training and hands-on experience in casting all types of structural concrete. They work with the architect, project engineer, and construction manager to make sure the right concrete mixtures and additives go into the precast pour.

The second is factory conditions. This means that temperatures are artificially controlled to ensure optimum conditions exist when a component is cast. All concrete casting and curing are done in these conditions which eliminates volatile job variables like unexpected weather drops when a pour has been scheduled and must proceed. This will also save time on the job site. While bad weather can stall cast-in-place projects, this is not a factor for precast as we arrive ready to erect.

The third is quality control. Precast concrete is produced in an environment that allows for superior consistency and quality control. This is ensured by an internal batch plant where the precise aggregate, powder, water, and other additives are mixed at a consistent temperature. There is no guesswork or taking a chance. Consistent labor force daily contributes to the repeatable quality of our precast concrete.

The fourth is strength and durability. Precast concrete provides a long-lasting solution as it grows stronger over time. While other materials deteriorate, studies have shown that precast concrete can provide a service life of more than one hundred (100) years, requiring little or no maintenance.

Lastly, concrete is environmentally friendly which is extremely important in an increasingly eco-conscious world. After water, concrete is the most frequently used material on earth. Made of all-natural materials, it is safe for the environment and can be recycled. Concrete can also incorporate recycled materials.

By choosing precast concrete, you will keep your next project on budget and on time even in those winter months.

Vacancy Rates Hit an All-Time Low for Chicago Area

Similar to our blog post from August 2021, the vacancy rate for Chicago-area industrial properties has hit an all-time low. If your business needs warehouse space today, you better move quickly when you find it. What is going out there is going fast!

The vacancy rate for Chicago-area industrial property dropped to 4.91% in the first quarter, down from 6.68% a year earlier and an all-time low for the local market, according to Colliers International. E-commerce, logistics, manufacturing, and other companies continue to gobble up warehouse space faster than developers can build it.

The industrial real estate market, already strong before the COVID-19 pandemic, has soared to new heights since the early days of the health crisis, emerging as the hottest sector in the commercial real estate market.

No company has had a bigger impact on the market than Amazon, which went on a real estate binge to expand its distribution network and speed up delivery times. The Seattle-based online retailer, now the Chicago area’s biggest private-sector employer, signed the two (2) biggest industrial leases in the Chicago area in the first quarter for warehouses totaling one (1) million square feet each in Joliet and Kenosha.

OSHA Heat Prevention Tips

The federal Occupational Safety and Health Administration (OSHA) announced that it is launching a national emphasis program focused on heat-related illnesses and injuries. Under the National Emphasis Program (NEP), OSHA aims to eliminate or reduce worker exposures to occupational heat-related illnesses and injuries in general industry, construction, maritime and agriculture industries. This new initiative is now an OSHA standard, and it is meant to enforce prevention. OSHA will focus on heat hazards through the NEP, which will be the employer’s responsibility to provide policies and procedures for OSHA’s targeted enforcement efforts to protect employees.

As part of the program, OSHA said it will proactively initiate inspections in indoor and outdoor work settings when the National Weather Service issues a heat warning or advisory for a local area. Furthermore, on days when the heat index is 80 degrees or higher, OSHA inspectors and compliance specialists will engage in outreach and technical assistance to keep workers safe. This new program allows an inspector to stop at any worksite, indoor or outdoor, whenever the temperature is above 80 degrees outside.

Companies will need to ensure they have current Heat Safety and Prevention policies. A Health Prevention Plan is a proactive process to help employers find and fix workplace hazards before workers are hurt. Eliminating workplace hazards enables employees to stay invested in their work and do their best. Safety is the most important aspect of your company’s plan for the future.

How to Prepare for Inflation and Rising Costs in the Construction Industry

Rates of inflation are increasing rapidly. There is no escape from the impacts of inflation. Construction companies are feeling the effects – not only are essential materials and skilled labor significantly more expensive, but supply chain pressures and shortages are making it harder to secure needed construction materials. The cost of concrete production, delivery to job sites, and the price for for the finished product are on the rise.

Lumber, steel, and many other materials critical for construction projects have experienced skyrocketing increases in pricing. While the root of the problem was supply chain disruptions due to the COVID-19 pandemic, new challenges continue to put pressures on pricing. At the same time, the available workforce is shrinking.

As the saying goes, knowledge is power so here are a few tips to help prepare for the effects of inflation according to World of Concrete 360.

1. Inflation rates for consumer and producer price indexes continue to rise.

The U.S. Bureau of Labor Statistics (BLS) found the inflation rate for the consumer price index (CPI) to be 9.1% for the twelve (12) months ending in June – the most significant increase seen since November 1981.

“A more compelling number along with that is the producer price index (PPI) that went up 11.3%” said Dr. Martin R. Cantor, director of the Long Island Institute for Socio-Economic Policy. That index includes concrete. “The PPI for construction materials was up 51% since January 2019, pre-pandemic”.

“Compared to January 2019, the latest numbers from April 2022 from the BLS and the Federal Reserve Bank of St. Louis show that gasoline went up 72% and crude oil went up to 76%, and both are involved in the cost of diesel delivery of the component parts of concrete to where it is manufactured and sites where it is used”, Cantor said. “Unfortunately, there is little that producers and purchasers can do. The delivery cost has gone up because you have a supply chain issue that impels inflation, and you have fewer drivers to deliver the product where it is needed”, said Cantor.

2. Wages are increasing due to related growth of minimum wage requirements and gas prices.

Cantor noted, “there is an increase in wages due to inflation and an increase in minimum wage and gasoline prices. There is nothing the businesses can do about it except pass it on unless they become more efficient. This is why there are increased costs in construction projects to pay for concrete. Concrete producers and general contractors are at the receiving end of goods and services.”

3. The Fed is likely to continue increasing interest rates.

Cantor believes that the Federal Reserve System will increase interest rates by 75% and, at the same time, take $95 billion per month out of the economy in cash. “They are decreasing liquidity in the marketplace, which makes construction costs more expensive while decreasing the number of buyers for real estate – both commercial and residential”, Cantor said.

4. Stay informed and ride out the storm.

Cantor stressed that purchasers of concrete are just as stuck as producers, nor does he see any relief soon.

“We are going to be in a recession, and right now, we are in a jobless recession because we still have plenty of jobs”, he said. “Once the Federal Reserve interest rates and tightening of the money supply start taking hold, which will probably be felt in September, we will see some impacts. But I do not see things changing until 2023.”

Cantor’s analysis was backed up by New York-based Peter Scalamandre & Sons, Inc. – in addition to being a respected general contractor, produces concrete via Seville Concrete Mix, a ready-mix concrete business providing high quality service to the New York City metro area for over forty (40) years.

“Our hands are tied right now”, said company president Peter Scalamandre. “Prices for materials and fuel have gone crazy. Cement is up 25% this year, aggregates – sand and stone – are probably up 20%, and fuel is up 100%”.  End-users for concrete have no choice but to pay the market price.