Bush Intercontinental Airport lands $15M federal grant for taxiway improvements
Bush Intercontinental Airport will receive a $15 million federal grant to reconstruct a taxiway, the Federal Aviation Administration announced Monday.
Airports nationwide are set to receive $3.18 billion through the Airport Improvement Program grants.
The first allotment, $840 million announced June 5, included $18.1 million for Hobby Airport to reconstruct a taxiway. Monday’s announcement, of grants totaling $495 million, was the fund’s second allotment.
The program’s funds can be used for runway reconstruction and rehabilitation, construction of firefighting facilities and the maintenance of taxiways, aprons and terminals.
Service sector picks up in June while retail dips
Texas’ service sector grew at a much faster pace in June than in May, a survey of businesses by the Federal Reserve Bank of Dallas found.
The revenue index, a measure of the state’s service sector conditions, was up to 13.6 in June. Positive readings indicate an expansion of economic activity in the sector.
Meanwhile, the wages and benefits index slowed last month, a sign of slowing wage increases in the sector.
In retail, sales continued to decline. The sales index was negative this month, and retail businesses remained pessimistic about broader business conditions.
The state’s service sector represents almost 70 percent of the state economy and employs about 8.6 million workers.
ClockSpring|NRI expands via acquisition
Houston-based ClockSpring|NRI, a manufacturer of products used in the repair of pipelines and other critical infrastructure applications, has acquired Milliken Infrastructure Solutions.
The deal expands its line of composite solutions for industrial process and transmission pipelines and adds new technologies for water and wastewater infrastructure restoration.
Among the products and technologies the company gains are GeoSpray, a spray-on geopolymer mortar lining that provides trenchless pipe rehabilitation for sewer, water and wastewater lines; Concrete Cloth, used for erosion control; the Atlas carbon fiber system for pipeline repairs; and the RenewWrap FRP strengthening systems.
ClockSpring|NRI will create a new Concrete Solutions Division led by John Hepfinger, while the Atlas and RenewWrap products will be integrated into its ClockSpring|NRI Composites Division. Milliken Infrastructure Solutions was previously a subsidiary of Milliken & Co., which was assisted by Jones Day on the transaction. Kirkland & Ellis and KPMG advised ClockSpring|NRI.