PRODUCERS – JANUARY 2018

St. Louis-Breckenridge Material Co. and Eastern Missouri Concrete have entered a partnership with CarbonCure Technologies in Halifax, N.S. The ready mixed producers will install equipment injecting carbon dioxide into concrete loads, where the gas converts to a solid mineral in the matrix and improves compressive strength development.

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HeidelbergCement: U.S. tax reform a plus after $240M charge for 2017

Sources: HeidelbergCement AG, Germany; CP staff

Lehigh Hanson parent company HeidelbergCement estimates a €200 million ($240 million) charge against net 2017 profit due to accounting measures stemming from the Tax Cuts and Jobs Act —the sweeping tax reform President Donald Trump signed into law late last year. The law reduces the federal corporate tax rate from 35 percent to 21 percent, but requires companies like HeidelbergCement to recalculate loss carried-forwards and deferred tax assets on losses in their consolidated 2017 financial statements. The one-time action will not impact earnings before tax or cash flow in 2017, HeidelbergCement notes, adding that the new U.S. tax rate will positively affect group net profit and cash flow beginning in 2019.

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Forterra prevails in court challenge to HeidelbergCement affiliate claims

Sources: Forterra Inc., Irving, Texas; CP staff

Delaware Court of Chancery has granted Forterra attorneys’ motion to dismiss a lawsuit that HeidelbergCement AG affiliates had filed over earn-out contingency fees tied to the $1.2 billion sale of the former Hanson Building Materials. Terms called for buyer Lone Star Fund IX (U.S.), L.P. to pay an additional sum for the 67-plant business, up to $100 million, depending on fiscal 2015 EBITDA (earnings before interest, taxes, depreciation and amortization) thresholds.

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HeidelbergCement sustainability equation: Less carbon, zero accidents

Germany’s HeidelbergCement Group has added a decade to the horizon of its Sustainability Ambitions 2020 program. The six-point successor centers on reducing carbon dioxide emissions 30 percent from 1990 levels; steering 80 percent of the research & development budget to sustainable products; increasing natural resource substitution with by-products or recycled materials; and, eliminating lost-time accidents.

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Lehigh Hanson parent subtracts carbon, accidents in new sustainability equation

CC101117 HeidelbergCement Sustainability logo

Sources: HeidelbergCement AG, Germany; CP staff

HeidelbergCement has added a decade to the horizon of its Sustainability Ambitions 2020 program, whose six-point successor centers on reducing carbon dioxide emissions 30 percent from 1990 levels; steering 80 percent of the research & development budget to sustainable products; increasing natural resource substitution with by-products or recycled materials; and, eliminating lost-time accidents.

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HeidelbergCement upbeat on 2017 outlook amid key-market strength, Italcementi gains

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Completion of a $4 billion merger involving Essroc Cement Corp. and sister Italcementi S.p.A. businesses, improved financials and credit ratings, plus declining energy costs, support especially positive investor guidance for the parent company of Lehigh Hanson, Inc. “2016 was an exceptional year,” affirms HeidelbergCement AG Chairman Dr. Bernd Scheifele. “With the successful takeover of Italcementi, we have accelerated our growth and are now in an excellent strategic position.”

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Cemex retreats from Pacific Northwest with Lehigh Hanson assist

Sources: HeidelbergCement Group, Germany; Cemex S.A.B. de C.V., Monterrey, Mexico; CP staff

HeidelbergCement anticipates a second quarter closing on a $150 million transaction adding the Pacific Northwest business of Cemex USA—seven quarries plus five ready mixed concrete and two asphalt plants—to Cadman Materials Inc. The latter is part of HeidelbergCement’s North American business, Lehigh Hanson, and a major ready mixed concrete and aggregates supplier in the Seattle market.

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HeidelbergCement upbeat on Italcementi integration, 2017 outlook

Sources: HeidelbergCement AG, Germany; CP staff

Completion of a $4 billion merger involving Essroc Cement Corp. and sister Italcementi S.p.A. businesses, improved financials and credit ratings, plus declining energy costs, support especially positive investor guidance for the parent company of Lehigh Hanson, Inc. “2016 was an exceptional year,” affirms HeidelbergCement Chairman Dr. Bernd Scheifele. “With the successful takeover of Italcementi, we have accelerated our growth and are now in an excellent strategic position.”

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Argos’ art of the nine-figure deal

By Don Marsh

Colombia-based Argos S.A. demonstrates in its latest investment the credit facilities and drive to build multiple U.S. cement and concrete platforms, perhaps competing for acquisitions with expansion-minded peers on the order of Oldcastle Materials and Summit Materials.

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Argos secures Mid-Atlantic market presence in $660M Essroc mill, terminal deal

Sources: CP staff; HeidelbergCement AG, Germany

A major transaction key to the merger of Lehigh Cement Co. and Essroc Cement Corp. parent companies, HeidelbergCement and Italcementi S.p.A., is scheduled for a fourth quarter closing and subject to U.S. Federal Trade Commission approval. Per a definitive agreement HeidelbergCement announced on August 18, Argos USA LLC will acquire Essroc’s Martinsburg, W.Va., cement plant and seven terminals in Virginia, Maryland and Pennsylvania, plus a Lehigh terminal in upstate New York.

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