Titan Cement International SA exceeded a $16 per share target for an initial public offering of its newly designated subsidiary Titan America SA, now listed on the New York Stock Exchange. Proceeds from a 24 million-share pool netted about $228 million for Brussels-based Titan Cement and $136 million for Titan America, where the capital can fund technology or growth investments…
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NSSGA sets interim leadership plan to follow CEO Johnson’s exit
Source: National Stone, Sand & Gravel Association, Alexandria, Va. National Stone, Sand & Gravel Association Executive Vice President Michele Stanley will be interim chief executive officer upon the mid-October departure of Michael Johnson, who has served as president and CEO for 11 years and will maintain those titles in a November 1 transition to the American Coatings Association, Washington, D.C. …
Read MoreWall Street awaits Holcim US, Lafarge Canada spin off from Swiss parent
With an eye to unlocking North American asset value, Holcim Ltd. plans a 2025 spin off of its namesake US and Building Envelope plus Lafarge Canada Inc. operations, the new entity likely listed on the New York Stock Exchange. Across 850-plus sites and a payroll north of 16,000, the three businesses hold top five U.S. and Canadian market positions in…
Read MoreMartin Marietta Materials CFO Nickolas chairs NSSGA
Source: Rock Products Magazine Martin Marietta Materials Executive Vice President and Chief Financial Officer Jim Nickolas was elected 2024 National Stone, Sand & Gravel Association chair during the group’s annual convention, succeeding Seth Hankowski of Massachusetts-based All States Materials Group. “The stone, sand and gravel industry is the foundation for so many products we use every day. The nation’s infrastructure,…
Read MoreProducers – February 2024
Oldcastle APG, a CRH Company, recently closed on the Nampa, Idaho facility of Waupaca Northwoods LLC, a Wisconsin-based producer of soils, barks, mulches and decorative stone. The deal marks a Western states entry for the Oldcastle APG Lawn & Garden business, expanding the producer’s landscape materials portfolio across North America. Notes President Tim Ortman, “The addition of the Nampa facility’s…
Read MoreMartin Marietta eyes major Southeast expansion with 20-site Blue Water deal
Sources: Martin Marietta Materials Inc., Raleigh, N.C.; CP staff Days after unloading its integrated Texas cement and ready mixed concrete operations in a $2.1 billion cash transaction with CRH Americas Materials, Martin Marietta Materials has entered a definitive agreement to acquire 20 crushed stone and sand & gravel plants from Blue Water Industries LLC, Jacksonville, Fla. The $2.05 billion transaction…
Read MoreHolcim gauges cement, aggregate asset traction on Wall Street
Sources: CP staff; Holcim Ltd., Zug, Switzerland The Holcim Ltd. announcement of a plan to spin off its U.S. and Canadian operations into a separate, publicly traded entity coincides with investor interest in construction materials production assets at its highest level in generations. A business encompassing Holcim North America holdings is poised to emerge on the heels of record or near-record valuations…
Read MoreSecond Vulcan Materials deal nets SRM Concrete 93 Texas operations
Tennessee-based SRM Concrete LLC has become the Lone Star State’s largest ready mixed producer after closing on 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. Last month’s transaction is the parties’ second of the year, which opened with SRM relieving Vulcan of…
Read MoreMartin Marietta moves on from TXI assets in CRH Americas deal
Sources: Martin Marietta Materials Inc., Raleigh, N.C.; CRH Plc, Dublin; CP staff CRH Americas Materials will add more than 2 million tons and 1.5 million cubic yards of annual cement production capacity and ready mixed concrete volume under a Texas asset agreement with Martin Marietta Materials. The producers anticipate a Q1/Q2 2024 closing on the $2.1 billion deal, which spans…
Read MoreDrake Cement parent sets sights on Martin Marietta California plant
Martin Marietta Materials Inc. has entered a definitive agreement to sell its Tehachapi, Calif. cement plant to Unacem Corp., Peru-based parent company of Arizona’s Drake Cement. With a projected closing by year end, the $317 million cash deal will position Unacem with 1.7 million tons of U.S. clinker capacity, about 15 percent of the volume in a cement plant fleet…
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