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.
Read MoreSources: Summit Materials, Inc., Denver; CP staff
Integrated cement, aggregate and concrete producer Summit Materials has appointed a ninth director, Steven Wunning, who will also serve on the Compensation Committee.
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Summit Materials Inc., Denver, has acquired Sierra Ready Mix, LLC, which serves the Las Vegas market from one sand & gravel pit and two concrete plants. The deal brings the suitor’s largest integrated materials and road-building business, Kilgore Companies, into a fourth state, Nevada, alongside Utah, Idaho and Wyoming.
Read MoreSources: Summit Materials Inc., Denver; CP staff
Summit Materials has acquired Sierra Ready Mix, LLC, which serves the Las Vegas market from one sand & gravel pit and two concrete plants. The deal brings the suitor’s largest integrated materials and road-building business, Kilgore Companies, into a fourth state, Nevada, alongside Utah, Idaho and Wyoming.
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Vulcan Materials Co., Birmingham, Ala., has elevated two senior vice presidents to new posts: Stan Bass, SVP West, overseeing Western and Mountain West Divisions, to chief growth officer, responsible for leading business development, commercial excellence, and strategic growth initiatives; and, Michael Mills, SVP & general counsel, to chief administrative officer, charged with executive oversight of non-financial, administrative functions. Also, Brock Lodge has been promoted from Western Division vice president and general manager to president, and Jerry Perkins, from assistant general counsel to general counsel, maintaining the corporate secretary post.
Read MoreSources: Summit Materials Inc., Denver; CP staff
Summit Materials anticipates a mid-March closing on key aggregate, concrete and asphalt production assets of Roanoke, Va.-based Boxley Materials Co., a 124-year-old operator serving Virginia and West Virginia. A definitive agreement on the deal was announced less than two weeks after Summit closed on Wilmington, N.C.-based American Materials Co., with five sand & gravel operations in the Carolinas.
Read MoreDenver-based Summit Materials Inc. has acquired LeGrand Johnson Construction Co., serving northern and central Utah, western Wyoming and southern Idaho through four ready mixed concrete, five sand & gravel and five asphalt plants. The Logan, Utah, operator becomes the 12th brand integrated with Kilgore Companies, an Intermountain platform launched in 2009 and now spanning upwards of 20 ready mixed and 20 aggregate sites, plus newer asphalt capacity.
Read MoreSources: Summit Materials Inc., Denver; CP staff
Summit Materials has acquired LeGrand Johnson Construction Co., serving northern and central Utah, western Wyoming and southern Idaho through four ready mixed concrete, five sand & gravel and five asphalt plants. The Logan, Utah, operator becomes the 12th brand integrated with Kilgore Companies, an Intermountain platform—spanning upwards of 20 ready mixed and 20 aggregate sites, plus newer asphalt capacity—built since 2009.
Read MoreIn less than four weeks after its creation, LafargeHolcim Ltd. executed major asset sales per agreements with regulators in North America and overseas markets.
Sources: Summit Materials Inc., Denver; CP staff
In a July 17 transaction with LafargeHolcim Ltd., Summit Materials acquired Lafarge North America’s Davenport, Iowa cement plant, along with a West Des Moines, Iowa, and six Mississippi River terminals. The companies announced the deal just ahead of an early-May U.S. Federal Trade Commission order stipulating plant and terminal sale within 10 days of the Lafarge S.A. and Holcim Ltd. merger, consummated July 8.
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