P&Q Editors Blog
Competitive fires
January 5, 2012
By: Pit & Quarry Staff
Martin Marietta Materials' takeover bid for Vulcan Materials has strengthened the competitive fire between the nation's two largest aggregate producers. And understandably so. The companies have been going at each other pretty good lately, since Martin Marietta announced its intentions on Dec. 12 to acquire Vulcan via an all-stock transaction valued at a reported $4.7 billion. Martin Marietta says a merger would work, creating a global leader in construction aggregates. Vulcan says it's a bad idea. To get a feel for where things stand between them, you only need to look at special web pages created by both companies that provide information on Martin Marietta's takeover attempt. Martin Marietta's information can be found at www.aggregatesleader.com. How about Vulcan's? www.realaggregatesleader.com. Say no more. – Brian Richesson
To be continued
November 15, 2010
By: Pit & Quarry Staff
Martin Marietta Materials operates more than 40 quarries in North Carolina, but the second largest producer of construction aggregates is facing serious opposition to growing that list. The company's push to build a 1,800-acre quarry in Maple Hill, N.C., has been slowed by the Onslow County Board of Adjustment, which recently postponed action on a special-use permit request until Dec. 14. More than 100 residents, as well as environmental experts and lawyers, attended a hearing on Nov. 9 to determine whether Martin Marietta's proposed quarry will harm surrounding areas. The company must prove to the board that its quarry would not endanger public health or diminish property values, The Daily News of Jacksonville, N.C., reported. Stay tuned. – Brian Richesson
Positive quotes
May 11, 2010
By: Pit & Quarry Staff
The CEOs of the nation's two largest aggregate producers see growth for 2010. From their latest quarterly reports ...
Don James, Vulcan Materials chairman and CEO:
Due mostly to the level of contract awards for highway construction in our states, we expect aggregates shipments in the remaining three quarters of 2010 to be 4 to 10 percent higher than the prior year. As a result, full year aggregates volumes are expected to be flat to up 5 percent from 2009 levels on a same store basis. For the full year 2010, we expect aggregates pricing to be flat to up 2 percent from the prior year.
Ward Nye, Martin Marietta Materials president and CEO:
Based on our current economic view, we expect aggregates volume growth of 2 percent to 4 percent and aggregates pricing to range from flat to an increase of 2 percent compared with prior year, which should lead to increased aggregates sales and improved gross margin and profitability in 2010. -- Darren Constantino
