Tennessee-based SRM Concrete LLC capped a watershed year in December, closing a deal with Vulcan Materials Co. for 28 USC-Atlantic LLC ready mixed plants in New York, New Jersey and Pennsylvania. Based on the Big Apple and Garden State market share it entails, the transaction likely becomes the largest transfer ever of concrete production and delivery capacity in a major…
Read MoreTag: Vulcan Materials
SRM Concrete commands Metro NY market with USC-Atlantic/Vulcan deal
Sources: SRM Concrete LLC, Smyrna, Tenn.; CP staff SRM Concrete has put an exclamation mark on a watershed year, closing a deal with Vulcan Materials Co. for 28 USC-Atlantic LLC ready mixed plants in New York, New Jersey and Pennsylvania. Based on the Big Apple and Garden State market footprint it entails, the transaction stands to be the largest transfer…
Read MoreCement, concrete producers stay in front of proposed climate rule
Environmental Protection Agency reporting measures and market mechanisms like the U.S. Green Building Council LEED rating system could position publicly traded portland cement, concrete and aggregate producers for seamless compliance with a proposed U.S. Securities and Exchange Commission rule on greenhouse gas (GHG) emissions and global warming risk disclosures. The subject of a public comment period closing this month, the…
Read MoreCement, concrete producers outpace SEC rule requirements
Sources: U.S. Securities and Exchange Commission; CP staff Environmental Protection Agency reporting measures and market mechanisms like the U.S. Green Building Council LEED rating system could position publicly traded portland cement and concrete producers for seamless compliance with a proposed Securities and Exchange Commission rule on greenhouse gas (GHG) emissions and global warming risk disclosures. Dubbed “Enhancement and Standardization of…
Read MoreVulcan Materials consummates U.S. Concrete deal
Sources: Vulcan Materials Co., Birmingham, Ala.; CP staff Texas-based U.S. Concrete Inc. has become a wholly-owned Vulcan Materials subsidiary with the completion of a stock buyout offer announced in June. The transaction, notes Vulcan Materials Chairman Tom Hill, “Is an important milestone as we welcome U.S. Concrete and its talented team while also taking the next step in our growth…
Read MoreVulcan dives deep into ready mixed with U.S. Concrete deal
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 MoreVulcan, Whiting-Turner, Lane team takes top ACI Construction Award
A three-building addition to the top Washington, D.C. performing arts venue, showcasing cast-in-place, architectural exteriors, earned the highest honor in American Concrete Institute 2020 Excellence in Concrete Construction Awards.
Read MorePRODUCERS – APRIL 2020
Texas-based U.S. Concrete, Inc. has closed on a $142 million deal for Coram Materials Corp., significantly expanding its East Coast aggregates portfolio. “Coram’s 50 million tons of reserves, located in the quickly depleting Long Island sand market, increases the vertical integration of our New York operations, strengthens our competitive position and advances the continuation of our strategy of expanding into higher margin aggregates businesses,” says (retiring) Chairman William Sandbrook. Following successful integration of Vancouver-based Polaris Materials, acquired in 2018, he adds, U.S. Concrete continues “to seek opportunities of coupling the pull through capabilities of our large regional ready-mixed concrete operations with attractive aggregate assets.”
Read MoreVulcan Materials, U.S. Concrete directors bring UPS, logistics bandwidth
Sources: Vulcan Materials Co., Birmingham, Ala.; U.S. Concrete Inc., Euless, Texas; CP staff
United Parcel Service President, U.S. Operations George Willis has been elected to the 11-member Vulcan Materials board and will serve on the Audit and Safety, Health & Environmental Affairs committees. “George has demonstrated exceptional leadership in his over 35-year career with UPS. His extensive experience with operations and logistics in a complex global business environment will provide us with invaluable insight on matters critical to our business,” says Vulcan Chairman Tom Hill.
Read MoreVulcan, Martin Marietta pace $5 billion milestone neck-and-neck
Sources: Martin Marietta Materials, Raleigh, N.C.; Vulcan Materials, Birmingham, Ala.; CP staff
Consistent with recent years’ near-equal financials, sand & gravel and crushed stone top guns Vulcan Materials and Martin Marietta Materials report respective 2019 sales of $4.9 billion and $4.74 billion, and adjusted earnings before interest, taxes, depreciation and amortization of $1.27 billion and $1.25 billion.
Read More