HC2 Holdings, Inc. (“HC2” or “the Company”) (NYSE: HCHC) today
announced that its infrastructure subsidiary DBM Global (“DBM”),
which includes Schuff Steel, the largest steel fabrication company
in the United States, expects that spending on critical alternative
energy and infrastructure projects is likely to increase in light
of the recent political elections.
“Recent reporting in the Financial Times and Bloomberg News
quotes market analysts who believe that Democratic control of
Congress will likely result in infrastructure spending, with some
projecting that such a plan could provide trillions of dollars in
government infrastructure spending over the next decade,” stated
Wayne Barr, CEO of HC2. “In addition, we expect that the new
administration’s commitment to investments in alternative energy
will give rise to substantial opportunities across the power
sector, where DBM has extensive experience in solar, liquified
natural gas and coal plant retrofitting projects as well as
turn-around or service and maintenance in many large industrial
facilities, including power plants, pulp and paper mills, oil
refineries, petro-chemical facilities and metal mills.”
Rustin Roach, Chairman, President and CEO of DBM said, “We are
optimistic that a near term infrastructure bill could have
significant benefits to the U.S. economy – it would create jobs,
improve the safety of our transportation systems, increase the
efficiency of supply chains, and continue to push the U.S. towards
energy independence.”
Continued Mr. Roach, “Steel is an essential building block of
our economy, and as a leading steel fabrication and erection
company in the U.S., we believe we are well positioned to generate
revenue from an infrastructure spending bill. With the phasing out
of the legacy coal fired power plants, and the stated objective of
the new administration to invest in alternative energy, there are
expected to continue to be opportunities in the power sector across
the U.S. Whether we are talking about new capital spending on solar
projects, additional investment in LNG projects, or even
potentially retrofitting the old coal fired power plants, we
believe our value proposition across the platform of companies
uniquely positions us to participate in the design, the build, and
the management phases of those projects. To that end, we are
actively looking to further expand our offerings through a
strategic acquisition strategy that will only serve to even further
bolster our position to participate in these types of capital
projects as well as continuing growth in the commercial and
industrial construction market.”
Schuff Steel was the steel fabricator and erector on the
state-of-the-art SoFi Stadium, which opened in September 2020 as
home to the NFL’s Los Angeles Rams and Los Angeles Chargers and is
slated to host the 2022 Super Bowl and the 2028 Summer Olympics.
Other notable Schuff projects include the University of Phoenix
Stadium in Glendale, AZ, the Apple Corporate Headquarters building
in Cupertino, CA, and The Crystals at CityCenter in Las Vegas,
NV.
To learn more about DBM Global, visit www.DBMGlobal.com and
follow the company on LinkedIn.
About HC2
HC2 Holdings, Inc. (NYSE: HCHC) has a class-leading portfolio of
assets primarily in Infrastructure, Life Sciences, Spectrum,
Insurance and Clean Energy. HC2 is headquartered in New York, New
York and through its subsidiaries employs 2,864 people.
About DBM Global
DBM Global is focused on delivering world class, sustainable
value to its clients through a highly collaborative portfolio of
companies which provide better designs, more efficient construction
and superior asset management solutions. The Company offers
integrated steel construction services from a single source and
professional services which include design-assist, design-build,
engineering, detailing, BIM co-ordination, steel
modeling/detailing, fabrication, rebar detailing, advanced field
erection, project management, and state-of-the-art steel management
systems. Major market segments include commercial, healthcare,
convention centers, stadiums, gaming and hospitality, mixed use and
retail, industrial, public works, bridges, transportation, and
international projects. The Company, which is headquartered in
Phoenix, Arizona, has operations in the United States, Australia,
Canada, India, New Zealand, Philippines, Singapore, Thailand and
the United Kingdom.
Cautionary Statement Regarding Forward-Looking
Statements
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains, and certain oral
statements made by our representatives from time to time may
contain, forward-looking statements regarding our ongoing
evaluation of our business, capital structure and allocation of
resources, including, without limitation, any statements regarding
expectations with respect to or an evaluation of our businesses,
monetization of assets, allocation of resources, debt reduction or
political or government developments or actions, as well as those
that may be identified by words such as “will,” “intend,” “expect,”
“anticipate,” “should,” “could” and similar expressions, all of
which involve risks, assumptions and uncertainties, many of which
are outside of the Company’s control, and are subject to change.
All forward-looking statements speak only as of the date made, and
unless legally required, HC2 undertakes no obligation to update or
revise publicly any forward-looking statements, whether as a result
of new information, future events or otherwise. HC2’s actual
results could differ materially from those expressed or implied in
the forward-looking statements due to a variety of important
factors, both positive and negative, that may be revised or
supplemented in subsequent statements and reports filed with the
Securities and Exchange Commission (“SEC”), including in our
reports on Forms 10-K, 10-Q, and 8-K. These risks and other
important factors discussed under the caption “Risk Factors” in our
most recent Annual Report on Form 10-K filed with the SEC, and our
other reports filed with the SEC could cause actual results to
differ materially from those indicated by the forward-looking
statements made in this press release.
Contacts
Media Contact:ReevemarkPaul Caminiti/Pam
Greene/Luc HerbowyHC2@reevemark.com(212) 433-4600
Investor Contact: FNK IRMatt Chesler,
CFAir@hc2.com(212) 235-2691
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