Author Topic: Blount Carlton History  (Read 1465 times)

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Offline Philbert

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Re: Blount Carlton History
« on: November 10, 2017, 11:53:01 am »
Part 4

By 1962, Blount Brothers was growing so rapidly that it passed the $100 million mark for construction contracts. In the same year, the construction industry's trade publication, Engineering News-Record, ranked Blount as the thirty-third largest construction company in the United States. However, although Blount benefited from the federal government's practice of awarding lump-sum contracts to the lowest bidder that could provide high-quality work, another government policy of using public work funds to regulate the economy began to create extreme cycles within the construction industry as a whole. As a consequence of this latter policy, management at Blount decided to decrease its reliance on government contracts and seek more work in the private or corporate sector.

In order to capture a significant share of the contracts in private industry, the company started a business development department and opened satellite offices in Boston, Chicago, and Houston. Initially, Blount was forced to accept small jobs, but these soon grew into larger and larger contracts. In 1967, management decided to embark upon an aggressive acquisitions program to accelerate its entry into private sector construction. The first acquisition was the Benjamin F. Shaw Company, a leader in the manufacture and installation of piping for chemical, paper, and power plants, as well as for oil refineries.
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