Southwire shifting from construction: Thorn
Jun 03, 2014 | 04:31 PM
| Saranya Kapur
NEW YORK The housing bust of 2009 continues to squeeze the construction industry, and Southwire Co. has continued to diversify away from this segment of the market, according to its top executive.
"The Great Recession has had a knock-on effect on the construction market, and while it has been slowly recovering, it has never gotten back to the peak of the mid-2000s," president and chief executive officer Stuart Thorn said in an interview with AMM.
And while housing construction has made a recovery, the gains have been focused on pockets of growth. "For example, while both public and private construction has been hot in Manhattan, other regions that saw significant overbuilding leading up to the bust remain cold," Thorn said.....
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