Summit Materials Divests Hinkle Contracting

Summit Materials Inc. announced the divestiture of Kentucky-based Hinkle Contracting Co. LLC to an affiliate of CRH Americas Materials Inc. Hinkle Contracting owns and operates asphalt plants, rock quarries and paving operations. Hinkle also owns Kentucky Hauling Inc., Bourbon Limestone, and Ohio Valley Asphalt LLC. In addition, Hinkle is a joint venture partner in Nally & Gibson and Hamilton Hinkle.…

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Summit Materials Aggregates Revenues Rise in Down Quarter

Summit Materials Inc. announced results for the first quarter ended April 2, reporting Net Revenue decreased $6.0 million, or 1.5% in the first quarter to $392.5 million, primarily resulting from divestitures completed in 2021, partially offset by increases in average sales prices. Operating loss increased $9.2 million, or 36.9% in the first quarter to $34.3 million, as timing of price…

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Summit Materials Announces Climate, Inclusion Targets

Summit Materials Inc. announced the publication of its 2021 Environmental, Social and Governance Report and its inaugural Diversity, Equity and Inclusion Report. These reports provide an update on the company’s progress toward its environmental, social and governance initiatives and outline its updated long-term goals. CEO of Summit Materials, Anne Noonan, commented, “Our three North Star Pillars of Human/Social Impact, Land…

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Summit 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. 

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Concrete-AI Seeks Reduction of Cost, Carbon Footprint of Concrete

Concrete-AI, a data science company, announced it has raised $2 million in a seed financing round with participation by the Grantham Foundation for the Protection of the Environment, a prominent family office and other marquee investors. This financing will accelerate the rollout of Concrete-AI’s pioneering data science platform that uses artificial intelligence (AI) and machine learning (ML) to optimize supply chains…

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