CRH venture capital unit: $250M facility, Cemex veteran at helm

Sources: CRH Plc, Dublin; CP staff The parent of the CRH Americas and Oldcastle businesses has organized a venture capital unit to support development of new technologies or innovations addressing customers’ increasingly complex needs and evolving construction trends. With access to $250 million, CRH Ventures will focus on companies that are:  • Developing the next generation of advanced sustainable building…

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Birmingham, Ala.-based Dunn Investment Co., parent of one of America’s oldest contracting businesses and holding company of multiple operating businesses located throughout the Southeast, has promoted two 25-year veterans from their vice president posts. Rodney Grogan, who served as 2017 National Ready Mixed Concrete Association chairman, has been named executive vice president of Dunn Investment Western Operations, including Mississippi and Louisiana ready mixed producers MMC Materials and Bayou Concrete, plus Huey P. Stockstill, Dunn Roadbuilders and Dunn Utility Products. His counterpart in Dunn Investment Eastern Operations, Craig Fleming, will be responsible for Dunn Construction, Dunn Building Co., Civil Constructors and Couch Aggregates.

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GCC, Martin Marietta, Summit deals clear CRH path to Ash Grove closing

Sources: U.S. Federal Trade Commission; CP staff

CRH Americas will consummate a $3.5 billion acquisition of Ash Grove Cement Co. by month’s end following a June 14 settlement resolving Federal Trade Commission charges that the deal violates antitrust law. Terms call for the Oldcastle Inc. parent company to sell a Three Forks, Mont., cement plant and quarry to GCC Americas; three Omaha, Neb., area sand & gravel sites to Martin Marietta Materials; plus, three quarries and two asphalt plants near Kansas City to Summit Materials. The settlement also contains two three-year provisions: It grants GCC an option to use two Three Forks-fed CRH terminals in Alberta; and, holds that CRH, at GCC’s option, will purchase cement from the mill for distribution in Canada.

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Oldcastle chief Towe to transition to new CRH Americas post

Source: CRH Plc, Dublin

Oldcastle Inc. President and CEO Mark Towe will assume a new role in January, CRH Americas chairman, working with CRH Chief Executive Albert Manifold to support performance and excellence programs across the group, and continuing as an executive director. Towe joined Atlanta-based Oldcastle in 1997, and advanced in the Materials hierarchy with appointment as president in 2000 and chief executive officer in 2006. Two years later, he was elevated to his current position and attendant CRH board post.

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