Sources: Holcim Ltd., Zug, Switzerland; CP staff 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…
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Credible carbon credits seed SCM capacity
This year closes with strong cement and concrete market indicators, especially considering investor enthusiasm for publicly held clinker capacity. Consider activity among New York Stock Exchange-traded operators since Labor Day: Summit Materials announced a cash and stock deal for Argos North America Corp., its $3.2 billion valuation reflecting cement production and distribution assets in Alabama, Florida, South Carolina and West…
Read MoreWall Street backdrop suits LEED developer’s milestone celebration
U.S. Green Building Council officials mustered early last month at the New York Stock Exchange to open the trading day and commemorate the 30th anniversary of their group’s charter. Beyond the milestone observance, the Wall Street event highlighted the Council’s role in spawning the green building industry through the Leadership in Energy & Environmental Design rating and certification program. “We…
Read MoreKnife River marks MDU split with ringing of NYSE Opening Bell
Sources: Knife River Corp., Bismarck, N.D.; CP staff Knife River Corp. has successfully completed a spinoff from longtime parent company, MDU Resources Group Inc., and announced a new name to replace an interim identity, Knife River Holding Co., adopted for a 10-month separation process. Against a backdrop of signature orange and KNF trading symbol, Knife River officials assembled above the…
Read MoreBrown & Root, KBR-minted finance chief leads Charah Solutions
Kentucky-based fly ash marketer and coal combustion products management specialist Charah Solutions Inc. has named Jonathan Batarseh as president and chief executive officer, replacing Scott Sewell. Batarseh arrived in October as chief financial officer after serving in the same capacity for Brown & Root Industrial Services, where he led strategic planning, acquisitions, and optimizing operational effectiveness while overseeing financial management…
Read MoreMDU Resources marks 90 years, sounding NYSE Bell
Sources: New York Stock Exchange; CP staff
David Goodin, chief executive officer of Knife River Construction Materials parent MDU Resources, rang the NYSE Closing Bell on March 18 to commemorate the company’s 90th anniversary. Joining him were executives of the namesake energy and Knife River Construction businesses.
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.”
Read MorePrairie, Prestige, St Marys parent vacates share offering
Source: Renaissance Capital, Greenwich, Conn.; CP staff
Global initial public offering investment adviser Renaissance reports that poor market conditions have compelled Brazil’s Votorantim Industrial S.A. to withdraw an offering of shares in its largest business, Votorantim Cimentos S.A., earmarked for São Paulo Stock Exchange and New York Stock Exchange trading.
Read MoreLimited exposure to Europe helps Votorantim Cimentos in IPO quest
In 2012 business reviews, the world’s leading public cement companies confirm sales or profit declines reflecting deep ties to European Union economies beset by nightmarish governing. Brazil’s Votorantim Cimentos S.A. is preparing to join the publicly traded operators club, presenting investors a portfolio with a key differentiating factor—minor European exposure—compared to peers Cemex SAB de C.V., Heidelberg Cement, Holcim Ltd., Italcementi SpA and Lafarge Group.
Read MoreVotorantim Cimentos eyes NYSE listing in prospective $5.4 billion IPO
Sources: Votorantim Industrial S.A., São Paulo; CP staff
The ultimate parent company of Toronto-based Votorantim Cement North America (VCNA) has outlined acquisition and management strategies to follow an initial public offering for shares of its multinational cement, concrete and aggregate business, Votorantim Cimentos S.A., trading on the São Paulo Stock Exchange and New York Stock Exchange.
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