TOP NEWS
Knife River Acquisition
Knife River has entered into a definitive agreement to acquire Strata Corp., a construction materials and contracting services provider in North Dakota and northwestern Minnesota. Based on Strata’s projected 2025 Adj. EBITDA, the purchase price of $454 million reflects a multiple in the high single digits.
Chaney Materials Website
Mid-Atlantic and Southeastern Region construction materials supplier Chaney Enterprises announced the launch of its newly redesigned website. The new website features a modern, streamlined design with improved navigation, making it easier for visitors to find the information and resources they need.
Luck Stone Growth
Luck Companies is growing its quarry operations across South Carolina. The company will develop new sites in Chester, Edgefield, Saluda and Spartanburg counties and expand its existing sites in Fairfield and Kershaw counties. The combined investment of $450 million will create 70 new jobs, according to the office of South Carolina Gov. Henry McMaster.
USGS STATS
The U.S. Geological Survey (USGS) reported that an estimated 410 million metric tons (Mt) of crushed stone were sold or used in the United States in the third quarter of 2024, a decrease of 6% compared with that in the third quarter of 2023. The estimated production for consumption in the first nine months of 2024 was 1.11 Gt, a decrease of 5% compared with that in the same period of 2023, according to USGS Commodity Specialist Jason Christopher Willett.
ECONOMIC INDICATORS
The AVP Pulse Index this month rose 0.1% month-over-month, while increasing 5.9% year-over-year; and 11.4% over the past 36 months. The proprietary AVP Pulse Index – a joint effort between mergers and acquisition advisors Allen-Villere Partners and Rock Products – illustrates the health of the industry in one single trend line, using relevant data that is updated monthly or quarterly.
According to the U.S. Census Bureau, construction spending during November 2024 was estimated at a seasonally adjusted annual rate of $2,152.6 billion, virtually unchanged from (±1.0%) the revised October estimate of $2,152.3 billion.
Total construction starts increased 5% in November to a seasonally adjusted annual rate of $1.2 trillion, according to Dodge Construction Network. Nonresidential building starts grew 2%, nonbuilding starts moved 16% higher, while residential building starts fell 1%.
MSHA WATCH
The U.S. Department of Labor released the results of the Mine Safety and Health Administration’s (MSHA) second Pattern of Violations screening in 2024 and announced that for the first time since 2021, none of the nation’s mines met the POV criteria for the existence of a pattern of violations under section 104(e) of the Mine Act.
ENERGY
- Brent Spot Prices
1/3/2025: $76.72 /barrel, up $2.95 /barrel from week earlier; down $1.59 /barrel from year earlier. - Natural Gas Spot Prices
1/6/2025: $4.05/million Btu, up $0.656 /million Btu from week earlier; up $1.326 /million Btu from year earlier. - Retail Diesel
1/13/2025: $3.602/gal.; up $0.041 from week earlier; down $0.261/gal. from year earlier. - Electricity
10/20/2024: Average price to industrial customers 8.21 cents/kilowatt hour; up from 8.01 cents/kilowatt hour from year earlier.Source:
U.S. Energy Information Administration
WOMEN IN AGGREGATES
Women in Aggregates is a new group dedicated to supporting women working in the aggregates industry. The Mission Statement of the group is: “To create a supportive space for women that fosters leadership growth, networking opportunities and advocacy of the aggregate industry.” Membership in Women in Aggregates is open to any woman working in, or working in support of, the aggregates industry, including producers, manufacturers and distributors; and marketing, advertising or public relations professionals. Interested parties can go to www.womeninaggregates.com to join the mailing list and to stay apprised of future developments, meetings, events and other communications from the group. There is also a LinkedIn discussion page, at www.linkedin.com/groups/12717856/.