Source: American High-Performance Buildings Coalition (AHPBC), Washington, D.C.
Chemical and building materials interests issued a statement responding to the U.S. General Services Administration’s recommendation of the Green Building Initiative’s Green Globes 2010 and U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) 2009 as third party certification systems:
Sources: National Institute of Science and Technology (NIST), Gaithersburg, Md.; CP staff
Adding limestone powder to fly ash-rich mixtures can improve finished concrete performance when measured against more conventional formulations, note NIST and Federal Highway Administration researchers in an August report, “Ternary blends for controlling cost and carbon content.”
Sources: Skanska USA, New York; CP staff
Major heavy civil and general contractor Skanska USA resigned its U.S. Chamber of Commerce membership to protest the group’s support of the American High-Performance Building Coalition (AHPBC), which is lobbying federal lawmakers to limit government projects to green building rating systems developed with consensus-based standards.
Sources: Vulcan Materials Co., Birmingham, Ala.; CP staff
In an updated investor presentation reinforcing its objections to Martin Marietta Materials’ hostile, stock exchange offer, Vulcan cites market, operating and product-pricing metrics where it excels against its would-be merger partner, coupled with differences between each company’s asset values.
Sources: Martin Marietta Materials, Raleigh, N.C.; CP staff
A “Timing Agreement” will see Martin Marietta and U.S. Department of Justice officials meet in April to discuss resolution of any agency antitrust concerns surrounding the company’s proposed merger with Vulcan Materials Co. Discussions will proceed toward a consent order detailing potential asset sales or other measures to gain DOJ/Antitrust Division clearance on a merger plan—itself subject to Vulcan shareholder approval and management’s legal challenges.
Sources: Vulcan Materials Co., Birmingham, Ala.; Martin Marietta Materials, Raleigh, N.C.; CP staff
In response to a potential Martin Marietta–Vulcan Materials merger the former company proposed in a early-December stock-for-stock exchange offer, the Department of Justice Antitrust Division has requested Vulcan provide ready mixed, aggregate and asphalt delivery detail from certain operations in 15 states. Vulcan noted in a Securities & Exchange Commission (SEC) filing it had received from Justice officials a Civil Investigative Demand and request for additional information and documentary.
Three days before Christmas, Vulcan Materials Co. indicated in sharp terms that its wish list did not include a stock-for-stock merger Martin Marietta Materials proposed 10 days prior. Vulcan Materials noted unanimous board rejection of the proposal, while questioning the legality of Martin Marietta’s actions leading up to a formal offer to Vulcan shareholders in early December.