Sources: Vulcan Materials Co., Birmingham, Ala.; U.S. Concrete Inc., Euless, Texas; CP staff Vulcan Materials and U.S. Concrete have entered into a definitive merger agreement projected to close the second half of 2021. The former will acquire all U.S. Concrete common stock for $74 in cash, representing a total equity value of just under $1.3 billion. The agreement sets the stage for…Read More
LafargeHolcim has closed on the assets of Metro Mix LLC, a ready mixed producer with Denver and Castle Rock, Colo., plants and a payroll of 50. Metro Mix reported 2017 sales upward of $30 million and serves a fast growing market where construction is projected to remain strong thanks to large jobs and population growth.Read More
Cemex USA and Rinker Materials veteran Karl Watson Jr. has joined Denver-based Summit Materials as executive vice president and chief operating officer, succeeding Douglas Rauh. He arrives at the ready mixed, cement, aggregates and asphalt producer with 25-plus years in construction materials, most recently serving as president of Martin Marietta Materials’ Cement & Southwest Ready Mix business.Read More
Texas-based U.S. Concrete, Inc. has named John Kunz as senior vice president and chief financial officer. His 30-plus years across financial disciplines include experience in accounting, tax, capital markets, corporate governance compliance, public company reporting and internal controls. Kunz most recently served as vice president, corporate controller and principal accounting officer of Tenneco Inc., where he was responsible for a team that handled all corporate and business unit accounting functions—consolidations, financial planning and analysis, and Securities and Exchange Commission reporting among them.Read More
With $5.84 billion in cement, aggregate and ready mixed concrete sales, North America led five LafargeHolcim Ltd. regions in 2015, besting overall figures from Asia Pacific, Europe, Latin America and Middle East Africa businesses. In its inaugural annual report, the company credits continuing U.S. recovery, cost optimization and price management for solid North America region results. Cement and aggregate volumes increased as a whole across the U.S. and eastern Canada, offset partially by a) reduced demand in Texas and western Canada markets, where oil and commodity investments were under pressure; and, b) merger-driven divestments in some states. A double-digit increase in U.S. operating EBITDA (earnings before interest, taxes, depreciation, amortization) stemmed from active cost, price and margin management.Read More
Ronnie Pruitt has joined U.S. Concrete Inc. as senior vice president and chief operating officer, a new position charged with direct oversight of ready mixed, aggregate and ancillary operations in New York and New Jersey, Texas and Oklahoma, and California. His 20-plus years’ industry experience was gained primarily at Dallas-based Texas Industries Inc., where he served as vice president of Cement Production and vice president of Sales & Marketing, Cement and Aggregates Divisions. Following the mid-2014 TXI–Martin Marietta Materials merger, Pruitt was named vice president of Cement Sales.Read More
Deals in ready mixed concrete and cement production this past month assure 2015 watershed status on an industry timeline. A true market leader in ready mixed rose in metro New York and New Jersey, with commanding presence on both sides of the Hudson River, while an integrated player with strong growth ambitions became only the second U.S. operator set to pick up major cement production and distribution assets from a multinational peer.Read More
Two months after entering the Texas market for volumetric mixer-delivered concrete through a deal for Custom-Crete, U.S. Concrete Inc. subsidiary Redi-Mix LLC bolted on the fleet and sites of Scofield Construction Services, LLC and Mobile-Crete of South Texas, LLC. Operated collectively as Mobile-Crete, assets acquired include five volumetric ready-mixed concrete facilities and 47 mixers servicing Austin, San Antonio, and south Texas markets. They join Custom-Crete’s 60 volumetric mixers and 11 plants Redi-Mix took over in October, netting site-mixed production in Austin, San Antonio and Dallas/Ft. Worth.