Summit Materials has entered a definitive agreement to be acquired by Atlanta-based Quikrete Holdings for $52.50 per share in a cash transaction valued upward of $11.5 billion. “This acquisition represents a significant milestone in our journey to expand our capabilities and geographic presence,” said Quikrete CEO Will Magill. “Summit is a recognized leader with a highly complementary portfolio of trusted…
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Summit Materials announced results for the third quarter ended Sept. 28, reporting that net revenue increased $369.9 million, or 49.9%, to $1,111.8 million.
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A mid-October White House update on the progress of the Federal Buy Clean Initiative and companion Department of Energy (DOE) Industrial Demonstration Program, references Cemex USA, Heidelberg Materials North America, and Summit Materials for their commitment to measures that advance decarbonization goals or strategies underpinning Buy Clean and Industrial Demonstrations activities.
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Publicly traded construction-materials companies operating in the United States reported mixed results for the second quarter.
Read MoreThe U.S. Geological Survey reported that the estimated U.S. output of construction aggregates produced and shipped for consumption in the first quarter of 2024 was 455 million metric tons (Mt), a decrease of 3.9% compared with that of the same period of 2023. Major companies reported significant decreases in construction aggregates shipments due to poor weather conditions (Martin Marietta Materials,…
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Three of six Cement and Concrete projects named as funding candidates in a $6 billion Energy Department Office of Clean Energy Demonstration (OCED) program entail production of calcined clay or limestone calcined clay (LC3) as an alternative to conventional portland cement clinker. Producers behind the Industrial Demonstrations Program-themed projects are positioned to negotiate with OCED officials awards where cost-sharing terms are up…
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Summit Materials appointed Marshall Moore as EVP, chief operations officer, effective Jan. 4. In the newly created role, Moore will enhance Summit’s operational excellence capabilities with responsibility for manufacturing and supply chain excellence, information technology and lean processes.
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Summit Materials successfully completed its $3.2 billion merger with Argos North America, the U.S. operations of Cementos Argos, after its shareholders overwhelmingly voted to approve certain proposals related to the transaction.
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According to Bloomberg, Heidelberg Materials is the mystery bidder that Summit Materials referenced in a recent proxy filing. The company said it had rejected two takeover proposals from an unnamed suitor with the latest made on Oct. 18 for $38 per share.
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Cementos Argos has entered into a definitive agreement with Summit Materials under which Argos North America will combine with Summit in a cash and stock transaction valued at $3.2 billion. The merger will create the fourth-largest cement platform in the United States and accelerates Summit’s “Elevate Summit” strategy, enhancing the company’s materials-led approach and positioning it for even greater success…
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