UK: Precast concrete market leader FP McCann Group recorded a profit of US$67.7m in 2024, up by 11% year-on-year. It overcame a drop in turnover of less than 1%, to US$536m, Insider Media News has reported.
FP McCann Group grows profit in 2024
Knife River acquires Strata Corporation
US: Knife River has completed its acquisition of North Dakota-based ready-mix concrete, aggregates and asphalt producer Strata Corporation for US$454m. Strata Corporation employs 900 seasonal workers and commands 28 ready-mix plants, three asphalt plants and 30 years of aggregates reserves, supported by a logistics fleet of seven trains and 400 railcars. It also includes a contracting services division. Strata Corporation will merge into Knife River's Central Region operations.
Seoul concrete producers agree to 2.5% reduced ready-mix concrete price
South Korea: The construction and ready-mix concrete industries have concluded four months of negotiations with an agreement that ready-mix concrete prices will come down by 2.5% to US$62.8/m3. Chosun Biz News has reported that Youngwoo Association represented local ready-mix concrete producers throughout negotiations.
Big 7 Ventures acquires Modern Concrete
US: Private equity firm Big 7 Ventures has acquired Nevada-based Modern Concrete. Big 7 Ventures says that the company will continue to operate under its existing management team under founding President Scott Reutner.
