This year began with a shareholder vote realigning the portfolio and ownership of Denver-based Summit Materials Inc. around Argos North America Corp. cement and ready mixed production assets and top shareholder Cementos Argos S.A. It closes with prospects for a similar action transforming New York Stock Exchange-traded Summit Materials to a subsidiary of privately held Quikrete Holdings Inc., Atlanta. The…
Read MoreSources: Summit Materials Inc., Denver; CP Summit Materials Inc. has entered a definitive agreement to be acquired by Atlanta-based Quikrete Holdings Inc. for $52.50 per share in a cash transaction valued upward of $11.5 billion. Summit directors have approved terms of the offer unanimously and will recommend shareholders vote accordingly ahead of a planned transaction closing during the first half…
Read MoreSources: Titan Cement International S.A., Brussels; CP staff Euronext Brussels-traded Titan Cement International has informed investors of an initial public offering of shares in Virginia-based Titan America, which reported $1.6 billion in 2023 cement, supplementary cementitious material, aggregate and ready mixed concrete sales across coastal Mid-Atlantic and Southeast operations. With a projected early-2025 completion on a Wall Street exchange, the…
Read MoreAt levels just under 100 percent, Summit Materials Inc. shareholders approved proposals at the heart of a September 2023 agreement with Colombia-based Cementos Argos S.A., paving the path for a mid-January merger of Summit Materials and Argos North America Corp. Valued at $3.2 billion, the merger creates the fourth-largest U.S. cement producer—behind Holcim US, Heidelberg Materials and Ash Grove—and significantly…
Read MoreSources: Summit Materials Inc., Denver; CP staff At levels just under 100 percent, Summit Materials shareholders approved proposals at the heart a September 2023 agreement with Colombia-based Cementos Argos S.A., paving the path for a January 12 merger of Summit Materials and Argos North America Corp. Valued at $3.2 billion, the merger creates the fourth-largest U.S. cement producer—behind Holcim US,…
Read MoreCementos Argos of Colombia has entered a definitive agreement with Denver-based Summit Materials Inc. under which Argos North America Corp., Alpharetta, Ga. will combine with Summit in a cash and stock transaction. It calls for Cementos Argos to receive approximately $1.2 billion in cash and 54.7 million shares—or 31 percent—of Summit stock, valuing Argos North America at approximately $3.2 billion.…
Read MoreSources: Argos North America, Alpharetta, Ga.; Summit Materials Inc., Denver; CP staff Colombia-based Cementos Argos has entered a definitive agreement with Summit Materials Inc. under which Argos North America Corp. will combine with Summit in a cash and stock transaction. It calls for Cementos Argos to receive approximately $1.2 billion in cash and 54.7 million shares—or 31 percent—of Summit stock,…
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The National Concrete Masonry Association has launched a free continuing education course for design professionals hosted by AEC Daily. “Concrete Masonry: The Energy Efficiency Solution” educates users on the thermal benefits of concrete masonry assemblies and energy code compliance options. It qualifies for continuing education credits through the AIA/CES system, and is U.S. Green Building Council-approved for Green Building Certification Institute CE hours.
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The board of Colombia’s Cementos Argos has unanimously appointed Juan Esteban Calle as chief executive officer, effective April. His interpersonal skills and professional record of accomplishments, directors note, will help position Argos to continue its growth and expansion strategy, while strengthening organizational culture plus good environmental and social management practices.
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