• Oil settled at its highest level since early March as indications of an economic recovery from the coronavirus pandemic helped drive a rally in commodities. Both Brent and West Texas Intermediate crude futures jumped more than 2% at press time. European Union leaders agreed on an unprecedented stimulus package to pull their economies out of the worst recession in…
Read MoreMonth: July 2020
Cedarapids Adds Frontline Machinery to Dealer Network
Cedarapids, a Terex MPS brand, announced the addition of Frontline Machinery as an authorized dealer in the Canadian province of British Columbia. In this territory, Frontline Machinery will be responsible for sales of the Cedarapids portable and modular product range. David Quail, business line director for Terex MPS said, “We are excited to welcome Frontline Machinery to our distribution network.…
Read MoreThe Shelly Company Banks on Drone-Based Aerial Intelligence
Drone-based aerial intelligence solution provider Kespry announced The Shelly Company is using the company’s platform for inventory management and mine planning. The Shelly Company is a major Ohio limestone, concrete and asphalt paving firm with more than 90 locations and 1,600 employees. It services 81 of 88 counties in the state.
Read MoreBig News from Summit
July 22, 2020 – With the economic impact of COVID-19 taking its toll nationwide, many people wondered what the publicly traded aggregates companies would report for the second quarter. We have the first report, from Summit Materials, and it is a good one. For the three months ended June 27, organic sales volumes increased 2.6% in aggregates. Aggregates net revenues increased by $1.3 million to $130.0…
Read MoreSummit’s Hill to Step Down; Noonan Named President
Summit Materials Inc. announced that Thomas W. Hill plans to step down from his role as president and chief executive officer and as a member of the board, effective Sept. 1. At that time, Anne Noonan will be appointed president and chief executive officer and as a member of the board. Hill will serve as a senior advisor through the end of…
Read MoreSummit Materials Climbs to Record Second Quarter
Summit Materials Inc. announced record results for the second quarter 2020. For the three months ended June 27, the company reported net income attributable to Summit Inc. of $57.1 million, or $0.50 per basic share, compared to net income attributable to Summit Inc. of $36.4 million, or $0.32 per basic share in the comparable prior year period. Summit reported adjusted diluted net…
Read MoreMSHA Reports 11th Fatality of 2020
The Mine Safety and Health Administration (MSHA) reported that on July 9, a mine superintendent was electrocuted while attempting to reverse the polarity of a 4,160 VAC circuit by switching the leads inside an energized 4,160 VAC enclosure that contained a vacuum circuit breaker and disconnect.
Read MorePioneer Adds Four Quarries to Its Operational Footprint
Pioneer Landscape Centers, which has been serving residential and commercial customers in the western United States since 1968, added four new quarries to its operations, allowing the company to increase production and enter into a new product sector supporting a range of large industrial customers in the concrete, asphalt and road base markets.
Read MoreSimonson Says
July 21, 2020 – Ken Simonson, economist for the Associated General Contractors of America (AGC), said that most states added construction jobs through mid-June, a promising sign. “The U.S. economy expanded at a slight to modest pace since the prior report as business activity varied across the country,” the Federal Reserve reported in the latest “Beige Book,” a summary of informal surveys of…
Read MoreHousing Starts, Permits Increase in June
Led by solid single-family production, total housing starts increased 17.3% in June to a seasonally adjusted annual rate of 1.19 million units, according to a report from the U.S. Housing and Urban Development and Commerce Department.
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