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Record Rainfall Dampens Martin Marietta's Q2 Results

Martin Marietta Materials Inc. announced its results for the second quarter ended June 30, 2015. The company is reporting consolidated net sales of $850.2 million compared with $601.9 million a year earlier, an increase of 41 percent. The company is also framing its results as "record net sales and operating earnings, despite the record rainfall experienced in its market areas."

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Senate Passes Six-Year Transportation Authorization

By a bipartisan vote of 65-34, the U.S. Senate passed a six-year surface transportation authorization. Passage of the “Developing a Reliable and Innovative Vision for the Economy Act” or the DRIVE Act represents a major step toward completion of a robust highway bill this fall. Co-sponsored by Senators James Inhofe (R-Okla.), Barbara Boxer (D-Calif.), David Vitter (R-La.), and Tom Carper (D-La.), the bill would provide more than $40 billion in revenues to cover shortfalls in the Highway Trust Fund during the first three years of the legislation’s six-year authorization.

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NSSGA Welcomes Senate Passage of DRIVE Act

The National Stone, Sand & Gravel Association (NSSGA) welcomed the Senate’s approval of the Developing a Reliable and Innovative Vision for the Economy (DRIVE) Act, the first six-year authorization of surface transportation funding to be produced in a decade. NSSGA hopes that Congress will use this surface transportation bill as a blueprint for a long-term investment in America’s aging infrastructure that can be adopted by both houses of Congress.

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Ready Mix, Cement Prices Hold Steady

Materials and equipment prices continue to drag down overall construction costs in 2015, according to IHS and the Procurement Executives Group (PEG). Prices for copper-based wire and cable, carbon steel pipe, and fabricated structural steel registered the weakest performance.

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