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Vulcan Materials builds California concrete aggregates reserves in Polaris deal

Sources: Vulcan Materials Co., Birmingham, Ala.; Polaris Materials Corp., Vancouver, B.C.; CP staff

Vulcan Materials has strengthened its supply chain for California concrete customers through a friendly takeover of Toronto Stock Exchange-traded Polaris Materials, which operates a sand & gravel plant and deep water port on Vancouver Island plus five distribution yards in the San Francisco Bay area and Los Angeles markets.

“Polaris has assembled high quality aggregate reserves that will further expand our product offerings, particularly for certain concrete applications, as well as our geographic coverage in the San Francisco and Los Angeles metro areas,” says Vulcan CEO Tom Hill. “This acquisition will enhance our logistics capabilities with the ship delivery of aggregate products and provide a platform for future distribution outlet opportunities along the Pacific Coast.”

Valued at nearly $200 million and projected to close during the fourth quarter, the deal coincides with California’s recent passage of SB1, providing $52 billion for key transportation infrastructure projects over the next decade.