Cement News tagged under: Summit Materials

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Continental Cement produces lowest carbon PLC to date

24 October 2022, Published under Cement News

Continental Cement Company LLC , a subsidiary of Summit Materials , has produced a 20 per cent Portland limestone cement (PLC), the lowest carbon PLC to date, as part of a research project for the Minnesota Department of Transportation (MnDOT) and the National Road Research Alliance. The research project evaluated the performance of low carbon cement products for use in future transportation infrastructure procurement and material selection to reduce overall environmental impacts.  PLC ...

Continental Cement achieves a 20% lower carbon Portland cement

21 October 2022, Published under Cement News

Continental Cement Company LLC ( Summit Materials Inc ) produced a 20 per cent Portland limestone cement (PLC), the lowest-carbon Portland limestone cement to date as part of an innovative research project for the Minnesota Department of Transportation (MnDoT) and the National Road Research Alliance project. The research study evaluates the performance of low-carbon cement and concrete products for utilisation in future transportation infrastructure procurement and material selectio...

Summit Materials posts 3% improvement in revenue

04 November 2021, Published under Cement News

US-based Summit Materials has announced its third quarter results for 2021, recording an 18.2 per cent YoY decrease in net income to US$74.2m from US$90.7m in the year-ago period. However, net revenue improved 2.6 per cent to US$662.3m from US$645.2m in the 3Q20, supported by higher aggregates, ready-mix concrete and cement revenue on continued favourable market demand conditions and price growth in all lines of business, according to a statement. Adjusted EBITDA also increased 7.3 per cen...

Continental Cement announces price increase

03 June 2021, Published under Cement News

US-based Continental Cement Co (Summit Materials) has announced a price increase for customers served by its Louisiana and Memphis terminals. As a result of increasing industry operating and logistics costs, the company is increasing cement prices by US$6/st. Delivered prices will be adjusted at the time of shipment to reflect any increases in freight rates, fuel surcharges and/or taxes, according to a statement.

Summit Materials sees record adjusted EBITDA

11 May 2021, Published under Cement News

USA-based Summit Materials has reported a US$25.5m net loss in the first quarter of 2021, compared to the US$45m in the year-ago period. Its net revenue advanced 16.4 per cent YoY to US$398.5m from US$342.4m in the 1Q20. The adjusted EBITDA also surged 166 per cent YoY to US$41.7m from US$15.7m in the January-March 2020 period. Sales volumes increased 20.7 per cent in aggregates, 13.7 per cent in cement, 7.6 per cent in ready-mix concrete and 15.9 per cent in asphalt, on the back of stro...

Summit Materials announces 13% increase in revenue

24 February 2021, Published under Cement News

USA-based Summit Materials has reported a 13 per cent YoY increase in net revenue for the final quarter of 2020 to US$571.9m, compared to US$506.3m in the 4Q19. Net income remained fairly consistent YoY at US$35.2m from US$35.7m. Adjusted EBITDA increased 7.8 per cent YoY in the 4Q20 to US$130.6m against US$121.1m in the year-ago period. Sales volumes increased 24.7 per cent YoY in aggregates, 4.5 per cent in cement and 6.4 per cent in ready-mix concrete for the 4Q20. Inclusive of acquisit...

Summit Materials sees revenue fall 3% in 3Q20

29 October 2020, Published under Cement News

USA-based Summit Materials saw its net revenue decrease 3.1 per cent YoY in the 3Q20 to US$645.2m, compared to US$665.8m in the corresponding period of last year. For the three months ended 26 September 2020, sales volumes increased 3.1 per cent YoY in aggregates but decreased one per cent in ready-mix concrete, 6.4 per cent in asphalt and 11.3 per cent in cement. Average selling prices fell 2.2 per cent YoY for aggregates, and edged up 0.5 per cent in cement and 4.6 per cent in ready-mix...

Summit Materials announces 2Q results and new CEO

22 July 2020, Published under Cement News

US-based Summit Materials saw a 24.5 per cent rise in operating income for the second quarter of 2020 to US$100.1m from US$80.4m in the year-ago period. Adjusted EBITDA also advanced 14.1 per cent YoY to US$160.2m from US$140.5m. Cement sales volumes declined 6.3 per cent YoY in the 2Q20, while prices were up 1.2 per cent. "Despite economic uncertainty, Summit experienced resilient demand and favourable weather conditions, particularly in Utah and Kansas, which led to record 2Q net reven...

Grupo Argos interested in Summit Materials merger

14 June 2019, Published under Cement News

Grupo Argos has approached US aggregates and cement producer Summit Materials Inc about a merger, according to people familiar with the matter. The deal would expand Grupo Argos’ footprint, but it remains uncertain whether Summit Materials would be prepared to negotiate a deal with Argos, said Reuters. The news saw shares of Summit increase by 14 per cent to US$15.51, resulting in a US$1.8bn market capitalisation for the US company. However, as at the end of March, it had accumulated US$...

Summits appoint a new COO

05 January 2018, Published under Cement News

Karl H Watson Jr has been appointed Executive Vice President and Chief Operating Officer of Summit Materials,Inc, succeeding Douglas C Rauh. Tom Hill, CEO of Summit, stated: "We are very pleased to have Karl join Summit. I have known him for years and his depth and breadth of experience in our industry will add impactful leadership to our already strong team. I am confident that Karl will make a great partner as we strengthen Summit for our next phase of growth." Mr Watson said: "I am...