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ABB acquires Baldor Electric Co.

ABB will acquire Baldor Electric Motor Corp. in an all-cash transaction valued at approximately $4.2 billion, including $1.1 billion of net debt.

The transaction closes a gap in ABB’s automation portfolio in North America by adding Baldor’s strong NEMA motors product line and positions the company as a market leader for industrial motors, including high-efficiency motors. Baldor also adds a growing and profitable mechanical power transmission business to ABB’s portfolio.

Read more: ABB acquires Baldor Electric Co.

People on the Move December

Nashville-based Rogers Group Inc. (RGI), the largest privately owned aggregates firm in the nation, entered its fourth generation of family ownership with Ben L. Rechter, great-grandson of company founder Ralph Rogers, being elected as chairman of the board of directors.

Read more: People on the Move December

Vulcan reports lower earnings, decreased shipments

Vulcan Materials reported that third-quarter aggregates earnings were $125 million versus $133 million in the prior year. Aggregates shipments declined 2.6 percent from the prior year's third quarter, accounting for most of the year-over-year decline in segment earnings.

Read more: Vulcan reports lower earnings, decreased shipments

USGS predicts third-quarter results

The U.S. Geological Survey issued predictive results for third-quarter
domestic production of construction materials (crushed stone, sand and gravel, and cement). Actual third-quarter results will be released next month.

Read more: USGS predicts third-quarter results

Martin Marietta reports higher sales volume, improved shipments

Martin Marietta Materials Inc. reported that net sales increased to $443.7 million in the third quarter, compared with $428.3 million in previous quarter. Heritage aggregates product line volume increased 6.3 percent, although pricing was down 3.1 percent, or 32 cents-per-ton.

Read more: Martin Marietta reports higher sales volume, improved shipments