Despite elevated mortgage rates averaging above 7%, single-family starts posted a solid gain in September as more buyers are turning to new homes because of a dearth of inventory in the resale market. Overall housing starts increased 7% in September to a seasonally adjusted annual rate of 1.36 million units, according to a report from the U.S. Department of Housing…
Read MoreDay: October 25, 2023
Summit Materials Mystery Bidder Revealed
Oct. 25, 2023 – 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. Bloomberg’s sources said Heidelberg has been working with advisers on its pursuit of Summit and made approaches…
Read MoreFT Aggregates Banks on Rokbak RA40s
Three Rokbak RA40 articulated haulers are moving thousands of tonnes of material a day for a large sand and gravel producer east of Edmonton, Alberta, Canada, with increased productivity and reduced fuel consumption being highlighted since the trucks’ arrival on site.
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