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 MoreThe Dublin parent company of CRH Americas Materials Solutions, Ash Grove Cement, Oldcastle APG and Oldcastle Infrastructure has appointed Chief Financial Officer Jim Mintern as successor to Albert Manifold, who will cap an even 11 years as chief executive officer at the end of 2024. Mintern is a 22-year CRH Plc veteran who has held various senior leadership roles and…
Read MoreSources: CRH Americas Materials Solutions, Atlanta; CP staff CRH Americas Materials Solutions has entered the Golden State market with the acquisition of BoDean Company Inc. and Northgate Ready Mix LLC of Santa Rosa, Calif., both known for quality output, innovation and sustainability measures. With two quarries plus one asphalt, one recycling and two concrete plants, the transaction complements the suitor’s…
Read MoreSources: SRM Concrete LLC, Murfreesboro, Tenn.; CP staff SRM Concrete has emerged as Texas’ largest ready mixed producer after a deal for 82 plants and 11 volumetric mixer loading sites from Vulcan Materials Co., which inherited the bulk of the properties in its 2021 U.S. Concrete Inc. takeover. The transaction is the parties’ second of the year, which opened with…
Read MoreFlanked by Ireland and CRH Americas Atlanta headquarters colleagues, CRH Plc Chief Executive Albert Manifold opened New York Stock Exchange trading late last month. Ringing the venue’s Opening Bell, he capped a shift of the producer’s primary listing from London Stock Exchange, where it will retain a standard listing. A CRH statement reiterated an earlier rationale for the Wall Street…
Read MoreSources: Armada Materials LLC, Tampa, Fla.; CP staff Armada Materials has been formed to build a leading infrastructure materials and services business through strategic acquisitions, starting with Lewisburg, Tenn.-based Volunteer Materials LLC and its affiliate LLCs: Volunteer Concrete, Volunteer Paving, Volunteer Sand and Gravel, Action Enterprise Co. and TMC Construction Services. Well positioned to supply materials and provide paving and…
Read MoreThe 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 products and accelerating the industry’s path to…
Read MoreSources: 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…
Read More
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.
Read MoreSources: 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.
Read More