In This Quarterly Report, Provided Exclusively to Rock Products, Capstone Partners Offers Insight Into Merger and Acquisition Activity, Capital Markets Trends, Aggregate Production and Pricing. By Darin Good, Brian Krehbiel and Crista Gilmore Capstone Partners’ Building Products & Construction Services Team is pleased to share its Rock Products report. Consolidation among aggregates producers has continued to drive merger and acquisition (M&A) activity to-date as…
Read MoreTag: Martin Marietta
Martin Marietta’s Nye Looks Ahead
Aug. 1, 2023 – With the momentum of its just-reported quarterly records for revenues, profitability and unit margins, Martin Marietta Chairman and CEO Ward Nye is looking ahead to a strong finish to the year and a positive 2024. He stated, “As record-setting public funds for infrastructure and manufacturing begin to enter the U.S. economy, we continue to expect that aggregates…
Read MoreMSHA Impact Inspections Target 20 Mines in 15 States
The U.S. Department of Labor announced that its Mine Safety and Health Administration (MSHA) completed impact inspections at 20 mines in 15 states in April 2023 and found 335 violations. Since Jan. 1, 2023, MSHA’s inspections identified 914 violations, including 257 significant and substantial and 18 unwarrantable failure findings. An S&S violation is one reasonably likely to cause a reasonably…
Read MoreEagle Materials Acquires Martin Marietta’s California Cement Import Business
Eagle Materials Inc. completed the acquisition of Martin Marietta’s cement import and distribution business in Northern California, which includes its cement terminal in Stockton, Calif. The acquisition is consistent with the company’s strategic intentions to extend and strengthen its distribution reach across its heartland U.S. cement manufacturing system. Commenting on the acquisition, Michael Haack, president and CEO, said, “Our Nevada…
Read MoreCalPortland-Martin Marietta Deal is Off
April 28, 2023 – Taiheiyo Cement Corp., headquartered in Bunkyo-ku, Tokyo, announced that its consolidated subsidiary, CalPortland Co., headquartered in California, and Martin Marietta Materials Inc., headquartered in North Carolina, have terminated their previously announced agreement dated Aug. 9, 2022, regarding the sale of Martin Marietta’s Tehachapi, Calif., cement plant and related distribution terminals, as the parties have been unable to timely obtain the…
Read MoreFIRST LOOK – March 2023
Martin Marietta Achieves Record 2022 Revenues
Martin Marietta Materials Inc. reported results for the fourth quarter and year ended Dec. 31, 2022, noting full-year records for revenues, profitability and safety performance. While fourth-quarter 2022 total revenues were lower, $1.477 billion versus $1,496 billion in 2021, full-year 2022 revenues totaled $6.161 billion, up from $5.414 billion in 2021.
Read MoreMartin Marietta Looks Ahead
Feb. 15, 2023 – Martin Marietta Materials had a slower 2022 fourth quarter than expected, but reported record revenues for full-year 2022. Aggregates revenues were, however, strong in 2022’s fourth quarter, $849 million, versus $827 million in the fourth quarter of 2021. For full-year 2022, aggregates revenues were $3.506 billion versus $3.059 billion in 2021. Looking ahead, Ward Nye, chairman…
Read MorePermitting – December 2022
News from Arkansas, Colorado Washington County, Ark.’s justices of the peace overturned the county Planning Board’s denial of a permit for an expansion of a quarry operation west of Fayetteville, Ark., according to the Northwest Arkansas Democrat Gazette. An overflow crowd of area residents opposed to the quarry filled the seats and lined the walls of the meeting room as…
Read More