Armstrong Steel | November 28, 2022
The demand for pre-engineered steel buildings is exploding, according to Armstrong Steel. Because of the many benefits that these pre-engineered buildings provide, new industries are turning toward this type of construction for their structure needs.
The recently released 2022 Pre-Engineered Buildings Global Market Report showed that the global steel market is expected to be worth $26.87 billion by 2026, which would represent a CAGR, or compound annual growth rate, of 11.98%.
Pre-engineered buildings have structural columns, rafters, girts, purlins and sheeting which are engineered and manufactured specific to each building purchased and then assembled on site per the erection drawings and all the parts are numbered to correspond with the drawings.
While pre-engineered steel buildings such as the ones manufactured by Armstrong Steel Buildings have been used extensively for workshops, storage, community halls, factories, airport hangars, strip malls and much, much more, they are also in high demand today for office buildings.
Pre-engineered steel buildings provide many benefits, including their flexibility in usage, the speed at which they are constructed, and their overall cost. It's only natural, then, that more and more industries are turning toward this type of structure for their building needs.
The increased demand for pre-engineered steel buildings in the office space market is a significant contributor to the market's expected growth as a whole. In many developing countries experiencing economic growth and rapid urbanization, these pre-engineered steel buildings are preferred because they are cost-effective and can be erected faster than traditional buildings.
The report also states that pre-engineered steel buildings make up anywhere from 75% to 80% of all new corporate and commercial construction. It's no surprise, then, that the industry is expected to experience explosive growth in 2023 and beyond.
One of the biggest trends in the steel building industry, according to Armstrong Steel Buildings, is the adoption of green building practices to positively impact climate change. Steel production has traditionally consumed a significant amount of energy and created a lot of emissions.
New technological advances are allowing steel manufacturing companies to not only reduce their energy consumption but also reduce their emissions at the same time.
Pre-engineered steel buildings are very eco-friendly, too. Armstrong Steel notes that steel itself is 100% recyclable and can be used multiple times over without compromising the integrity of the material. This is yet another reason why pre-engineered steel buildings are a smart investment for any company, organization, or individual who needs a new structure.
About Armstrong Steel
As a leading manufacturer of pre-engineered metal buildings, Armstrong Steel Buildings takes pride in delivering high-quality steel buildings across North America. Armstrong Steel Buildings has been delivering high-quality steel buildings for nearly twenty years and provides structures to residential, commercial, agricultural, industrial, cannabis, government, and military agencies.
Rite-solutions | November 25, 2022
Rite-Solutions is pleased to announce it was recently awarded three contracts by the Naval Undersea Warfare Center Division Newport (NUWCDIVNPT), Naval Information Warfare Systems Command (NAVWAR), and Naval Surface Warfare Center Dahlgren Division (NSWCDD).
Over the next three to five years, the three contracts total $68 million.
Supporting NUWCDIVNPT’s Code 25 Combat Systems Department, Rite-Solutions will provide hardware and software engineering, systems engineering, system integration and testing, fleet support, and administrative services supporting the AN/BYG-1 submarine combat control system modernization. The contract is worth $25 million.
“we are thrilled to continue supporting the Code 25 Combat Systems Department in what has been a long and productive partnership for more than two decades.”
-Laura Deady Sr. Vice President Rite-Solutions.
Separately, the Naval Information Warfare Systems Command (NAVWAR) awarded the company a $13 million follow-on contract under the Navy’s RAPDS Multi-Award ID/IQ for PEO MLB/PMW 250. Rite-Solutions will continue sustaining and maintaining the DoD IT Portfolio Repository (DITPR)-DON and DON Application and Database Management System (DADMS) IT Portfolio Management system. DITPR/DADMS is used by the DoD to maintain an inventory of all of its hardware, software, and their interfaces.
The Naval Surface Warfare Center Dahlgren Division (NSWCDD) awarded the third contract to Rite-Solutions, worth $30 million. The Rite-Solutions proposal included up to 60 full-time employees, annually. The company will be hiring up to 30 people in the Virginia and DC area.
“the Dahlgren center provides the world’s best surface ship command and control systems and we’re very pleased to apply our experience in undersea warfare.”
-Laurie Carter, Rite-Solutions’ Senior Vice President of Business Development and Strategy.
Rite-Solutions will provide engineering and combat systems integration expertise to the NSWCDD Integrated Combat Systems Department to plan and execute combat systems operations activities in support of current and future Combat System Command and Control functions.
Rite-Solutions President and CEO, Dennis McLaughlin notes, these contracts, on the heels of a $77 million contract awarded by NSWCDD earlier this year, are a testament to the expertise and dedication of Rite-Solutions’ employees and the value we provide our customers.
Rite-Solutions, Inc. is an award-winning small business specializing in system engineering, software development, information technology (IT), and cyber security for government and commercial segments. Rite-Solutions has offices in Rhode Island, Connecticut, and Washington D.C.
West Coast Construction | November 28, 2022
United Capital Source helped secure one merchant cash advance totaling $9 million for a west coast construction company. The 32-year-old company will use the funds for a government contract it was awarded for the renovation of two city schools.
After receiving the award for the construction contract, the company came to UCS looking for a subordinated line to its current lender. UCS, an online marketplace, worked quickly with the company’s lender and the funder’s legal teams on the language needed in the subordination agreement. The total time to fund the advance was four and a half days.
UCS helped to structure the exact deal required within the timeframe necessary so the company could take advantage of the opportunity they had despite this being unconventional funding. The construction company received an immediate cash advance of $6 million, with another $3 million becoming available in twenty days when the second part of their project starts. The merchant cash advance structure is an estimated 12-month deal that includes aggressive prepayment options from three to six months.
“This is another example of how our marketplace works. We have partnered with best-in-class lenders and funders who can operate quickly and efficiently across multiple products offering the best rates and terms available. Danielle handled most of the deal, and she worked for 4 days straight assisting the legal teams and working back and forth between all parties getting the deal to the finish line in time for the clients.”
-Jared Weitz UCS.
The structure of the loan is intended to serve as bridge financing, and that’s exactly how the construction company will use it. UCS VP of Sales Danielle Rivelli handled the deal from start to finish.
Danielle’s dedicated service and unique financing structure highlighted UCS’s ability to find business financing options that work for their clients. The construction company acquired the funds to take advantage of the government contract opportunity.
United Capital Source, Inc:
Is a lending marketplace geared towards driving small business growth. .