Vulcan Materials Co. has entered into a definitive agreement to acquire Wake Stone Corp., a leading pure-play Carolinas aggregates supplier. The deal stands to net more than 60 years of quality hard rock reserves to serve attractive high-growth geographies, most notably Raleigh, N.C.
“We look forward to welcoming Wake Stone to the Vulcan family,” says Chairman Tom Hill. “Established in 1970, Wake Stone has successfully built a leading aggregates franchise that shares many of the same values as Vulcan. Our people are at the heart of our business, and we are excited to work with the talented Wake Stone team.”
“This acquisition is consistent with our aggregates-led growth strategy of continuing to expand our reach to better serve more high-growth regions in the United States. Vulcan Way of Selling and Vulcan Way of Operating disciplines remain fundamental to consistently compounding profitability across our franchise and successfully integrating new operations. With the financial strength and flexibility to continue to grow, we are well-positioned to continue to deliver value for our shareholders and our customers,” he adds.
Cemex USA has entered a joint venture agreement with Couch Aggregates and marine bulk product distributor Premier Holdings. The move will strengthen Cemex’s aggregate reserves with the production, distribution and sale of sand, gravel and limestone in the Mid-South, increasing the company’s presence in the region while providing customers better and faster service. A longtime strategic partner of Cemex USA, Couch Aggregates is a major player in the Southeast. Premier Holdings strategically operates Gulf Coast marine terminals, facilitating the distribution of value-added heavy building materials to wider markets.
“This joint venture will create significant opportunities for both parties by utilizing vertical integration and leveraging each other’s capabilities for growth,” says Cemex USA President Jaime Muguiro. “We remain committed to increasing our capacity to serve the U.S. market with more sustainable and innovative solutions.”
Separately, Cemex S.A.B. de C.V. has been named for a fourth time to Fortune’s Change the World list. Compiled by reporters and editors from a pool upward of 250 companies, the 2024 list showcases businesses that are having a positive social impact through activities tied to their core business strategy. Companies were clustered into four groups this year, with some falling into multiple categories: Environmental Impact, Economic Opportunity, Public Health, And Human Rights. In assessing the nominees, the most critical factors considered were measurable social impact, business results, and degree of innovation. The 2024 Change the World list includes 30 businesses from North America, 12 from Europe, eight from Asia and Australia, plus one from Africa and South America.
Fortune especially recognized Cemex’s work with VeryNile in cleaning the Nile River and developing a more sustainable solution for the collected waste. VeryNile is an initiative supported by the Ministry of the Environment in Egypt that develops eco-friendly solutions to remove inorganic waste from the Nile River. Plastics recovered from the river are upcycled, and nonrecyclable waste is used as alternative fuel in Cemex’s Assiut cement plant. Consequently, pollution issues in the local ecosystem are alleviated and water quality for the community improved, while fishermen and women affected by Nile contamination find new employment opportunities.