Displaying items by tag: US

US: Heidelberg Materials North America has acquired aggregates and asphalt producer Highway Materials. Highway Materials is based in Philadelphia, Pennsylvania, and operates four stone quarries, a concrete recycling facility and other assets, with 350 employees. Heidelberg Materials previously acquired Texas-based aggregates producer Victory Rock and concrete recycling company Aaron Materials earlier in July 2024. The deals advance Germany-based Heidelberg Materials’ strategy of growth through small-to-medium-sized synergistic bolt-on acquisitions. The combined value of the acquisitions is US$380m, with anticipated earnings synergies of US$50m.

Heidelberg Materials North America president and CEO Chris Ward said “We are excited to further expand our footprint in two of the fastest-growing areas in the US. The addition of these operations complements our existing aggregates businesses in Texas and Pennsylvania, while also adding to our rapidly growing portfolio of circular solutions across North America.”

Heidelberg Materials chair Dominik von Achten said “These latest US acquisitions reflect the progress of our ongoing efforts to optimise our portfolio by expanding our presence in this key region. We will continue on our growth trajectory in our key markets around the globe, while pursuing the industry’s most ambitious sustainability goals.”

US: Premier Graphene has despatched test samples of its proprietary graphene suspension to ‘one of the largest essential materials companies.’ Graphene-Info News has reported that Premier Graphene expects the samples to confirm its findings of a 32% increase in compressive strength after 28 days, compared to concrete produced without its graphene.

President Pedro Mendez said "Our internal tests have confirmed multiple advantages that position our green cement product strongly in the market. These include increased strength with reduced cement usage, substantial carbon footprint reduction and enhanced durability. We anticipate strong market adoption driven by our cost-effective graphene production methods and established, remarkable efficacy. Our strategy encompasses both graphene colloids for customised mixing by manufacturers and the development of graphene-based products like epoxies and lubricants. This phased approach minimises capital expenditure while maximising product innovation.”

US: Cemex USA has entered into a joint venture for the production and distribution of aggregates in the Mid-South region with Couch Aggregates and Premier Holdings. Cemex USA has a pre-existing strategic partnership with Couch Aggregates. The group says that the vertical integration of this, along with Premier Holdings’ Gulf Coast marine terminals, will accelerate its regional growth. Cemex aims to raise the total US contribution to its earnings before interest, taxation, depreciation and amortisation (EBITDA) from 29% to 40% in the ‘medium-term’ future.

President Jaime Muguiro said "This joint venture will create significant opportunities for both parties by utilising vertical integration and leveraging each other's capabilities for growth. We remain committed to increasing our capacity to serve the US market with more sustainable and innovative solutions."

Cemex USA’s Mid-South region covers 27 ready-mix concrete plants in Alabama, 24 in Georgia, 11 in Tennessee and one in Virginia, and aggregates sites in Alabama, Georgia and South Carolina.

US: The ready-mix concrete and heavy building materials producer Knife River Corporation has appointed Patricia Chiodo to its board of directors. Chiodo will serve on the board's audit and compensation committees. The company says that she brings a ‘wealth of financial expertise.’ She previously held the position of chief financial officer at Verra Mobility Corporation, from which she stepped down in 2022, prior to which she was chief financial officer at RSC Holdings. Chiodo is also a member of UNS Energy Corporation’s audit committee and has served on the audit committee of Embark Technology.

Knife River Corporation chair Karen Fagg said "Tricia is an accomplished business leader with experience in corporate strategy, mergers and acquisitions, risk management and capital markets. When we chose to expand the board and add another independent director, we were looking for someone with Tricia's combination of financial expertise, experience with public companies and proven skills as a team builder. She is a great addition to the board, and we look forward to working with her as we continue to grow Knife River."

US: Cemex USA has launched its Vertua® range of reduced-CO₂ concrete in Florida. The producer marked the launch with the announcement of a major residential construction supply contract with Rockwell Construction in Sarasota County. The project, for developer Mattamy Homes, is called Brightmore.

Cemex’s US regional president said "We are thrilled to bring Vertua® to Florida and collaborate on Mattamy Homes' new residential endeavour in Sarasota County. This product represents a significant leap forward in sustainable construction, helping set a higher standard for environmentally responsible building practices not only in the region, but throughout the country."

US: Sublime Systems has announced the first-ever commercial application of its low-carbon Sublime Cement product at WS Development’s One Boston Wharf building in Massachusetts. The concrete placement is located in the Paseo indoor public space at the office building. The floor will be marked with educational materials explaining the significance of decarbonised cement in combating global climate change.

Leah Ellis, the CEO and Co-Founder of Sublime Systems, said “Buildings are monuments to the values of the people who build them, and the One Boston Wharf project represents WS Development’s leadership in ushering in our post-carbon future.” She continued “They are creating not only the building but the world where people want to be. We are honoured to have Sublime Cement featured so prominently here and are confident this pioneering place will inspire infrastructure owners everywhere to embrace low-embodied-carbon materials as a powerful tool for achieving our global net-zero goals.”

US: St Marys Cement won three national awards at the Slag Cement in Sustainable Concrete Awards 2023. The producer won the awards for supplying its slag cement for the construction of Wixom Assembly Park in Wixom, Michigan; of 333 North Water in Milwaukee, Wisconsin, and of Excellerate Manufacturing in Appleton, Wisconsin.

US: Terra CO₂ has begun full-scale trial production of concrete without cement using its novel supplementary cementitious material, Opus Zero. The SCM consists of ground, heated glass spheres made from silicate rock.

Chief scientific officer DJ Lake said “Opus Zero represents a pivotal moment in our journey towards sustainable cement and concrete. Of the very few non-carbon-capture solutions to decarbonising cement, with none proven at scale, Opus Zero stands above the rest for being inherently cost-efficient, practical and scalable for the industry. Today, Opus Zero represents a zero-clinker cement that can be produced with abundant feedstock around the world, does not require opening new mines to scale, and aims to seamlessly fold into the current industry landscape.”

US: Global Cement understands from material published publicly on Breedon Group’s website that the UK-based company acquired ready-mix concrete, aggregates and building products company BMC Enterprises for US$300m on 6 March 2023. This marks the group’s first entry into the US building materials sector. Breedon Group described the acquisition as a ‘compelling opportunity’ in the ‘fragmented and growing’ market. It described BMC Enterprises as a highly attractive, established business upon which to grow a new group platform in the US, in addition to its existing platforms in the UK and Ireland.

Breedon Group CEO Rob Wood said “The acquisition of BMC represents a compelling opportunity for Breedon to launch our third platform. BMC has an excellent performance track record over a sustained period and is positioned in an attractive market for future growth. As a high-quality aggregates and concrete business that has grown at pace, organically and through acquisitions, with a strong management team and deep local knowledge, BMC’s culture and values are fully aligned with the Breedon business model.” Wood added "The acquisition is expected to be earnings-enhancing for shareholders, while allowing Breedon to maintain a conservative and flexible balance sheet to pay dividends and make further bolt-on acquisitions across each of our platforms as opportunities arise.”

US: Vulcan Materials raised its sales by 6.4% year-on-year in 2023, from US$7.32bn to US$7.78bn. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 24% to US$2bn, while its profit grew by 25% to US$1.95bn. Vulcan Materials’ full-year concrete volumes dropped, during which time it also divested some concrete operations. Altogether, the producer plans to invest US$625 – 675m in maintenance and growth projects in 2024.

Chair and CEO Tom Hill said "We carry momentum into 2024, and our focus is the same - compounding unit margins through all parts of the cycle and creating value for our shareholders through improving returns on capital."