subscribe to ENR magazine subscribe
contact us
advertise
careers industry jobs
events events
FAQ
Mcgraw Hill Construction
ENR Logo
SUBSCRIBE TODAY
& receive immediate web access
comment

Gray Construction Has a Winning Strategy

Text size: A A
PHOTO COURTESY OF GRAY CONSTRUCTION
Industrial projects have helped lift Gray Construction.
----- Advertising -----

The growing investment in manufacturing and industrial facilities has helped boost many Top 400 Contractors. One of the biggest beneficiaries on this year's list is Gray Construction in Lexington, Ky.

Gray Construction has years of experience in manufacturing and process plants, but the recession took its toll. The firm had risen to No. 120 on the Top 400 in 2008, reporting 2007 revenue of $534.1 million. By last year, the firm had fallen to No. 182 on the Top 400, with 2010 revenue of $303.7 million.

"In 2008 ... the project leads simply weren't there. This trend lasted for a couple of years, so we were faced with some pretty tough decisions," says Stephen Gray, CEO. By fall 2010, the firm was down to 12 active projects, he says.

However, Gray says the firm decided to stay true to its core markets and values and continue to hire the best and brightest talent it could find. It also redoubled its marketing efforts.

Things started to break in summer 2010. "We found ourselves chasing five large projects for companies like Caterpillar, Whirlpool, Siemens and Mitsubishi," Gray says. By the end of the year, Gray Construction had won all five jobs—all in the $100-million range.

"We have continued to see an upswing in the manufacturing construction market over the past 18 months, particularly in the South where the majority of the projects are clustered," says Gray. He says the firm now has 30 projects under way, totaling around $645 million, and more opportunities are on the horizon. The firm moved up 77 places on the 2012 Top 400 and now ranks at No. 105.

Keywords:

----- Advertising -----
  Blogs: ENR Staff   Blogs: Other Voices  
Critical Path: ENR's editors and bloggers deliver their insights, opinions, cool-headed analysis and hot-headed rantings
Project Leads/Pulse

Gives readers a glimpse of who is planning and constructing some of the largest projects throughout the U.S. Much information for pulse is derived from McGraw-Hill Construction Dodge.

For more information on a project in Pulse that has a DR#, or for general information on Dodge products and services, please visit our Website at www.dodge.construction.com.

Information is provided on construction projects in following stages in each issue of ENR: Planning, Contracts/Bids/Proposals and Bid/Proposal Dates.

View all Project Leads/Pulse »

 Reader Comments:

Sign in to Comment

To write a comment about this story, please sign in. If this is your first time commenting on this site, you will be required to fill out a brief registration form. Your public username will be the beginning of the email address that you enter into the form (everything before the @ symbol). Other than that, none of the information that you enter will be publically displayed.

We welcome comments from all points of view. Off-topic or abusive comments, however, will be removed at the editors’ discretion.