Sources: Eagle Materials Inc., Dallas; CP staff
A definitive agreement with Cemex S.A.B. de C.V. will net Eagle Materials a Xenia, Ohio (Fairborn) cement plant, plus Columbus terminal, cement bagging operation and related assets. The $400 million deal is projected to close in the fourth quarter and could increase the suitor’s cement output by up to 20 percent.
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Dallas-based Eagle Materials Inc. has announced the retirement of President and CEO Steve Rowley effective March 31. The cement, aggregate, ready mixed concrete and wallboard producer notes that his decision, stemming from post-surgery health matters, brings “to a close a remarkable career of 25 years of continuous service to the company and its stockholders.”
Read MoreSources: Eagle Materials Inc., Dallas; CP staff
Eagle Materials has announced the retirement of President and CEO Steve Rowley effective March 31. The cement, aggregate, ready mixed concrete and wallboard producer notes that his decision, stemming from post-surgery health matters, brings “to a close a remarkable career of 25 years of continuous service to the company and its stockholders.”
Read MoreSources: CP staff; Federal Trade Commission, Washington, D.C.
The FTC has opened to public comment a proposed consent agreement settling a complaint alleging that the Holcim Ltd. and Lafarge S.A. merger would likely harm competition in the U.S. It details a portfolio of Holcim (US) Inc. and Lafarge North America portland cement and slag cement production and distribution assets to be divested in conjunction with the parent companies’ union.
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Dallas-based cement, aggregate and ready mixed producer Eagle Materials Inc. has appointed Michael Haack to chief operating officer, a post created in response to the company’s continued strategic expansion in construction and energy-related markets. He joins Eagle from Halliburton Energy Services, where over a 17-year career he assumed key operating roles, most recently managing global operations for Sperry Drilling, a multi-billion dollar division serving Halliburton operations in every major global oil and gas market. Haack earned a Master of Business Administration degree from Rice University, and holds a Master of Science degree from Texas A&M University and a Bachelor of Science degree from Purdue University, both in Industrial Engineering.
Read MoreSources: Lafarge Group, Paris; Bluegrass Materials, Jacksonville, Fla.; CP staff
Lafarge North America’s pull back from key U.S. positions continues with the planned sale of Baltimore and western Maryland aggregates businesses to a four-year-old company backed by members of Florida Rock Industries’ founding family.
Read MoreSources: Summit Materials, Washington, D.C.; CP staff
Ending a one-year drought of announced concrete and aggregate deals, Summit Materials has acquired Utah’s Westroc Inc. and certain Lafarge North America assets in Kansas.
Read MoreSources: CP staff; Bluegrass Materials Co., Jacksonville, Fla.; Vulcan Materials Co., Birmingham, Ala.
Lafarge North America’s sale of its Georgia quarries-four to Bluegrass Materials, two to Vulcan Materials-marks a retreat from the Southeast and Blue Circle America assets parent company Lafarge Group placed under its control the past 12 years.
Read MoreSources: Eagle Materials Inc., Dallas; Lafarge Group, Paris; CP staff
By Don Marsh
Eagle Materials is projecting a November or December closing on Lafarge North America properties in Kansas, Missouri, Nebraska and Oklahoma: eight ready mixed concrete plants, two aggregate quarries plus a fly ash distribution business strategic to Kansas City; Sugar Creek, Mo., and Tulsa, Okla., cement mills; and six cement terminals in the four states. In the 12 months leading up to June 30, 2012, the operations logged $178 million in revenue.
Read MoreSources: CP staff; Martin Marietta Materials, Raleigh, N.C.; Lafarge North America, Reston, Va.
An asset swap with Lafarge North America will net Martin Marietta a major metro-Denver presence, including 10 ready mixed and six aggregate operations, plus nine asphalt production or road-building office/equipment sites.The properties figure to join Martin Marietta West Group’s Western Division, with two Wyoming and four Nebraska quarries. The transaction adds a third West Group state, alongside Arkansas and Texas, where the company has integrated ready mixed and aggregate production.
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