Sources: Vulcan Materials Co., Birmingham, Ala.; CP staff
The Vulcan board has approved a new structure for its aggregate, concrete, cement and asphalt operations, eliminating approximately 200 administrative positions and leaving plant staff largely unaffected. Management streamlining was in the works prior to the stock-for-stock merger Martin Marietta Materials proposed December 12 to Vulcan Materials shareholders, an action their directors continue to review.
Sources: Martin Marietta Materials, Raleigh, N.C.; CP staff
By Don Marsh
A stock-for-stock takeover Martin Marietta launched December 12 for Vulcan Materials Co. would create a heavy building materials powerhouse with aggregate shipments (2010 combined: 278 million tons) more than double those of its closest peers, Oldcastle Materials (118 million tons) and Lehigh Hanson Inc. (116 million tons), but limited additional scale in ready mixed concrete and asphalt production.