Flanked 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 MoreTag: MDU Resources Group
Producers – June 2023
The board of North Dakota-based MDU Resources Group closed May with a distribution of Knife River Holding Co. shares, finalizing a 10-month spinoff process of the concrete, aggregate, cement distribution and construction business from the utilities operator flagship. MDU Resources and Knife River are now independent, New York Stock Exchange-traded companies with distinct investment identities, business operations, customers and geographic…
Read MoreU.S. Concrete’s Sandbrook resurfaces as Knife River director candidate
Sources: MDU Resources Group Inc., Bismarck, N.D.; CP staff MDU Resources continues to unveil key appointments and related management details for its Knife River Corp. construction materials subsidiary, a spinoff of which is scheduled by June 30. Knife River Holding Co. will become a separate business, trading on the New York Stock Exchange under the KNF symbol. Knife River’s post-separation…
Read MorePRODUCERS – February 2023
The board of Nevada-based Jensen Precast, one of the United States’ largest and most respected operators in non-architectural structures or elements, has appointed Eric Jensen, 55, as chief executive officer. A Harvard Business School graduate and past National Precast Concrete Association director, he joined the family business as a teenager, a series of assignments leading to the chief marketing officer…
Read MoreMDU elevates Knife River NW Region chief, 29-year veteran Gray
Source: MDU Resources Group, Bismarck, N.D. The MDU Resources Board has named Brian Gray as president of construction materials subsidiary Knife River Corp., where 36-year veteran David Barney remains chief executive officer. With a Knife River tenure just shy of 30 years, Gray has headed the producer’s Northwest Region for a decade and overseen seven bolt-on acquisitions since 2018, most…
Read MorePRODUCERS – January 2022
The California Precast Concrete Association has presented Don Jensen, founder of Nevada-based Jensen Precast, the Robert G. Evans Lifetime Service Award, recognizing an individual who has shown exceptional leadership, dedication, and accomplishment on behalf of CPCA. Since joining peers in CPCA’s 1990 launch, he has worked to shape the association, hosted plant tours for production school participants and industry allies,…
Read MorePRODUCERS – AUGUST 2021
Burnco Rock Products Ltd., Calgary, has appointed Tom Zais as chief executive officer, responsible for ready mixed concrete, plus construction- and landscaping-grade aggregate businesses in Alberta, Colorado and Texas. He arrives from Martin Marietta Materials, where he served as Texas-based regional vice president – Ready Mix. That position followed vice president and general manager roles with Texas Industries, which Martin…
Read MoreKnife River books nearly $42M gain from Tax Cuts & Jobs Act
Sources: MDU Resources Group Inc., Bismarck, N.D.; CP staff
A Tax Cuts & Jobs Act-prompted reevaluation of 2017 net deferred tax liabilities across MDU Resources produced a $41.9 million addition to fourth quarter figures for the Knife River Corp. construction materials business unit. Federal tax reform passed late last year lowers the corporate tax rate from 39 percent to 21 percent. The deferred tax liabilities gain positioned Knife River to contribute $123.4 million of MDU Resources’ $284.2 million in 2017 earnings, against respective prior year figures of $102.7 million and $232.4 million.
Read MoreMajor operators affirm strong deliveries in peak season
Fall 2013 saw the release of one set of positive quarterly financials after another from New York Stock Exchange-traded companies with integrated U.S. concrete, aggregate, cement and asphalt businesses. Uniformly upbeat sales, EBITDA (earnings before interest, taxes, depreciation and amortization) and net earnings reports encompass the peak 2013 construction season; MDU Resources Group summing up conditions likely shared with peers: “The [Knife River] construction materials group had its best quarter since 2007.”
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