Dbm Global Stock Price, News & Analysis

DBM Global (DBMG) has secured a new amended and restated credit agreement comprising an $85 million term loan and a $135 million revolving credit facility, totaling $220 million in senior secured debt. The Credit Facility, led by UMB Bank, N.A., will mature on May 20, 2030 and includes an accordion feature allowing for an additional $50 million increase. The funds will be used to refinance existing debt obligations and provide additional working capital capacity for the company's operations.

DBM Global Inc. (DBMG) has announced leadership changes in its financial department. Mark Koolis has been elected as the new Chief Financial Officer (CFO), while former CFO Michael R. Hill transitions to the role of Vice President of Finance while maintaining his position on the DBM Board of Directors.

The company's other key officers, including James R. Roach (Chairman and CEO), Robert N. Waldrep (Vice President), and Scott D. Sherman (Vice President, General Counsel, and Secretary), will retain their current positions.

Koolis, who joined DBM in September 2021 as VP of Finance and Administration, brings significant experience from his previous roles as CFO at Banker Steel (2019-2021) and NYCC (2016-2019), as well as senior financial positions at Hubbell Inc. He holds a BS in Business Administration and Masters of Science in Accounting from the University of Connecticut.

DBM Global subsidiaries Banker Steel and NYC Constructors have completed the structural steel phase for Terminal 6 at JFK International Airport. This marks a significant milestone in the $19 billion transformation of JFK into a world-class gateway. The new 1.2 million-square-foot Terminal 6 will feature ten gates, with the first five opening in 2026 and the remainder in 2028.

Banker Steel fabricated 17,000 tons of structural steel for the $4.2 billion redevelopment, including unique features like a 50-foot+ cantilevered eyebrow roof and two oculus skylights. The project faced challenges of constructing at a functioning airport, requiring careful coordination to minimize disruptions. Terminal 6 is designed with sustainability in mind, incorporating features such as PV solar panels and a stormwater reclamation system.

DBM Global Inc. has elected Stacy Reyan as a new Board member, enhancing their leadership team as they pursue growth. Current directors remain in their roles, while former director Robert V. Leffler, Jr. has completed his service. Chairman and CEO James R. Roach expressed confidence that Reyan's human resource expertise will drive shareholder value. Reyan, with over 25 years of experience in human resources, aims to align people strategies with business goals. DBM Global, based in Phoenix, Arizona, continues to provide integrated steel construction services worldwide, serving diverse markets including healthcare, commercial, and public works.

Schuff Steel Company, a subsidiary of DBM Global, has denied allegations made by the EEOC regarding widespread discrimination at its Eloy facility. The company asserts its commitment to a discrimination-free workplace and claims to have thoroughly investigated the allegations without finding supporting evidence. Confident in its defense, Schuff Steel looks forward to presenting facts in court to vindicate its practices. With a reputation as a leading structural steel builder in the U.S., Schuff Steel emphasizes its proactive approach to project management and construction.

DBM Global Inc. announced the election of Robert B. Holland, III as a new board member, enhancing the Board's expertise. Chairman James R. Roach noted that Holland's experience will contribute significantly to shareholder value amidst ongoing growth. Holland brings a wealth of experience as an executive and board member in various companies and previously served as the Executive Director of the U.S. at the World Bank. The announcement emphasizes the company's commitment to delivering sustainable value through its collaborative approach in sectors such as healthcare and construction.

DBM Global Inc. (OTC: DBMG) has announced a cash dividend of approximately $15 million, equating to $3.89 per share, to be paid on January 28, 2022. The dividend will be distributed to stockholders of record as of the close of business on January 14, 2022. This payment reflects the company's commitment to returning value to its shareholders as it operates in multiple international markets, providing integrated steel construction services.