What I love about LOR is their vision and their boldness in rethinking construction. They disregard everything which is established as a tier one constructor. They have looked to where they can add value and most importantly invested heavily.
Even the fact they their CEO is a woman is a great statement in itself in a narrow minded industry.
LOR see themselves as an Engineering Enterprise and look for clients who see the value in this approach. This may mean they have to travel the world to find them.
Their Design for Manufacturing Assembly is a bold strategy. They invested in their concrete plant just at the wrong time when the market dipped. They continued to hold firm to their strategy and funded the factory through recession. I have no doubt that this strategy will catapult them ahead of the field over the next decade.
They have a fantastic programme in investing in their people and teaching them new skills which is often talked about but not acted upon in construction.
In the notes to accompany the results Anna Stewart made some great comments which I feel sum up the vision of the business. If any Teir 1 contractor is going to achieve vision 2025 it is LOR.
The following is an extract from the CEOs notes which for me give a clear articulation of where they are going.
"We are confident that following our strategy for Design for Manufacturing and Assembly and transferring as many activities away from construction sites into controlled factory environments, will ensure we are less impacted by the skills shortage in traditional trades and will not be driven to engage a lower skilled inherently less safe workforce."
Music to my ears!
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