Sources: GFG Alliance, London; CP staff
GFG Alliance has entered a binding agreement to purchase all of the outstanding stock in Keystone Consolidated Industries Inc., Dallas, from holding company Contran Corp. It projects a closing of the $320 million deal by year end and will integrate the business with an existing portfolio company, Liberty Steel USA, based at a Georgetown, S.C., mill acquired in late-2017 from Arcelor Mittal.
Sources: American Concrete Institute, Farmington Hills, Mich.; CP staff
ACI will close the year with $1 million in funding for the ACI Foundation, which supports research, scholarships, new technologies and issues of strategic importance to the concrete industry. Double ACI’s annual $500,000 commitment for the separately managed Foundation, the 2018 tally includes one-time contributions totaling $486,000 plus funding for a new Middle East Fellowship.
Source: U.S. Senate Joint Select Committee on the Solvency of Multiemployer Pension Plans
After a November 30 deadline for submitting a proposal addressing a funding crisis engulfing multiemployer pension plans, Senior Senators Orrin Hatch (R-Utah) and Sherrod Brown (D-Ohio) have committed to pursuing a bipartisan solution. In a statement, they indicated that efforts of Joint Select Committee they co-chair will carry on: