Posted October 20, 2018 05:36:10A major shakeup is underway at some of the country’s biggest shingle providers, and they’re doing it in a big way.
The U.S. Chamber of Commerce says the group of companies has invested $1.5 billion in asphalt anchors over the past two years, adding another $1 billion in the next two years.
The company said this week that it is now building more than 200 miles of asphalt roads and highways.
The company’s other major projects include installing more than 500 miles of new asphalt roads in Texas, Louisiana, North Carolina, Tennessee and Alabama.
The new asphalt road project is expected to add more than $5 billion to the company’s bottom line.
A number of other big shingle companies, including U.K. shingle operator EDS and Germany shingle builder PTT are also on the rebound.
The Chamber says the new asphalt project is the third-biggest investment in its history and the second-bigger in terms of number of miles built.
The projects, according to the chamber, represent more than 1.4 million jobs.