Concrete Products is the leading source for Concrete Plants, Concrete Mixers, Precast, and Ready Mix news.

Lawmakers tie hybrid plans to multiemployer pension system reform

Source: Office of U.S. Representative Phil Roe, M.D. (R-Tenn.-1)

Representatives Phil Roe, M.D. and Donald Norcross (D-N.J.) present their Give Retirement Options to Workers (GROW) Act as a bipartisan effort designed to modernize, strengthen and safeguard the multiemployer pension plan system for the future.

Read more: Lawmakers tie hybrid plans to multiemployer pension system reform

At 50, 11-plant Jensen Precast exemplifies major independent label

Sources: Jensen Precast, Sparks, Nev.; CP staff

One of the largest family owned operators in underground products for commercial building and local, state or federal agency infrastructure work marked five decades in business on February 14.

Read more: At 50, 11-plant Jensen Precast exemplifies major independent label

Heidelberg to exit Lehigh White Cement partnership with Cemex, Aalborg

Sources: HeidelbergCement AG, Germany; Cemex S.A.B. de C.V., Monterrey, Mexico; Cementir S.p.A., CP staff

Lehigh Hanson parent company HeidelbergCement will sell its 51 percent stake in Lehigh White Cement Co. to minority shareholders in a deal valued at about $140 million and scheduled for first quarter closing. Ownership of Lehigh White Cement, which has 280,000 tons' capacity in York, Pa., and Waco, Texas, plants, will be split between Aalborg Cement Co. (63.25 percent), a North American business of Denmark-based Aalborg Portland Holding A/S, and Cemex Inc. (36.75 percent).

Read more: Heidelberg to exit Lehigh White Cement partnership with Cemex, Aalborg

Summit closes Metro RM of Utah and companion Missouri, Texas deals

Sources: Summit Materials, Denver; CP staff

Summit Materials has opened 2018 acquiring Metro Ready Mix in Salt Lake City; Price Construction Co., a west Texas aggregates and asphalt producer and contractor; and, Mertens Construction Co., a central Missouri aggregates producer. At $120 million combined, the deals strengthen the integrated producer's platform businesses Kilgore Cos., West Valley City, Utah; Troy Vines Inc., Midland, Texas; and, ConAgg of Missouri, Columbia.

Read more: Summit closes Metro RM of Utah and companion Missouri, Texas deals

Forterra, Foley complete Southeast asset shuffle

Sources: Forterra Inc., Irving, Texas; CP staff

In a deal with Columbus, Ga.-based concrete pipe and drainage structures operator Foley Products Co., Forterra has exchanged Alabama, Georgia and Tennessee plants for similar Mississippi and Texas assets plus $10 million in cash. The transaction reflects what Forterra notes is a continued focus on portfolio management to deliver long-term value by enhancing the company's position in well-structured markets.

Read more: Forterra, Foley complete Southeast asset shuffle