March 1, 2022 – Biomason, a Durham, N.C.-based startup that’s using microorganisms to “grow” cement, raised $65 million in Series C funding led by venture capital firm 2150. Other investors include Celesta Capital, Novo Holdings and Martin Marietta Materials. Per FastCompany’s Adele Peters, “The company starts with recycled aggregate, the tiny bits of material that cement holds together in concrete. Then it adds…
Read MoreMonth: March 2022
Construction Spending Rises in January; Up Year-Over-Year
The U.S. Census Bureau announced that total construction spending during January 2022 was estimated at a seasonally adjusted annual rate of $1,677.2 billion, 1.3% (±0.8%) above the revised December estimate of $1,655.8 billion. The January figure is 8.2% (±1.2%) above the January 2021 estimate of $1,549.8 billion.
Read MoreSummit Materials Announces Executive Changes
Summit Materials Inc. announced two executive changes effective March 1. Tom Beck will become executive vice president, Summit Materials; and David Loomes will assume the role of Continental Cement Co. (CCC) president and senior vice president of Summit Materials, as part of the company’s planned and proactive leadership succession.
Read MoreMartin Marietta Sells Some California Cement, Ready Mix Holdings
Martin Marietta Materials entered into a definitive agreement to sell certain West Coast cement and ready mixed concrete operations to Taiheiyo Cement Corp.’s CalPortland unit for $250 million in cash. The operations include the Redding cement plant, related cement distribution terminals and 14 ready-mixed concrete plants located in California.
Read MoreHolcim Completes Roofing Acquisition
Holcim completed the acquisition of Malarkey Roofing Products, a double-digit growth engine in the U.S. residential roofing market, with projected 2022 net sales of $600 million and EBITDA of $120 million. Recognized for its leadership in innovation and sustainability, Malarkey is expanding Holcim’s range of roofing systems in the highly profitable $19 billion U.S. residential roofing market.
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