The return of summer brings hot weather, blockbuster movies and orange construction barrels as road construction begins. This year’s construction season is shaping up to be a little different, however.
Recently news broke that will affect heavy highway and asphalt paving contractors. A shortage of paint used to stripe the roads will cause delays in finishing jobs for 2-6 months. The shortage of 2 ingredients used to give the paint its reflectivity and color are the biggest causes of the shortage. That shortage is in large part because a Texas plant owned by Dow Chemical -- the largest supplier of highway paint -- experienced issues a few weeks ago that resulted in low production rates. It is estimated that U.S. state and local governments spend almost $2 billion annually on road markings and that to curb the shortage, some organizations may paint thinner lines, or use temporary tape and buttons. Delays in the shipment of paint will cause jobs to remain open longer and contractors to not get paid as quickly as usual.
Click here for more information on the paint shortage.
If you have any questions, post a comment below or please contact our Real Estate & Construction Group at 440-449-6800.
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