Cement News tagged under: Vulcan Materials
Vulcan Materials Florida asset sale complete10 March 2014, Published under Cement NewsVulcan Materials Co has concluded the sale of its cement and concrete businesses in the Florida area to Cementos Argos SA for US$720m in cash. Under a separate supply agreement, Vulcan will continue to provide aggregates to the divested concrete facilities, at market prices, for a period of 20 years. "We are pleased to have successfully completed the transaction with Argos and to be working with Argos to supply aggregates to the facilities going forward," said Don James, chairman and CEO of... |
Vulcan sells cement assets to Cementos Argos24 January 2014, Published under Cement NewsVulcan Materials has agreed the sale of all of its cement activities, as well as certain downstream assets, to Cementos Argos for US$720m in cash. The deal, which is still subject to formal approval, is expected to be completed later during the first quarter. Vulcan will continue to supply aggregates to the assets being sold for a period of 20 years. The assets being deposed of consist of the Newberry, Florida, cement works and cement terminals and griding works at Tampa and at Port Manat... |
Vulcan improves margins and returns to profits05 November 2013, Published under Cement NewsVulcan Materials' turnover for the first nine months improved by 6.7 per cent to US$2090.5m and the EBITDA moved ahead by 29.8 per cent to US$372.4m. The trading profit jumped from US$29.4m to US$136.8m, with the third quarter showing a 78.6 per cent advance. After a net interest charge 3.9 per cent lower at US$152.8m, the pre-tax loss dropped by 91.1 per cent to US$11.2m, while a further tax credit gave rise to a net profit of US$15.3m compared with a US$56.1m the net loss a year earlier... |
Vulcan sees main growth coming from the residential market, USA02 August 2013, Published under Cement NewsVulcan Materials' first-half turnover increased by 3.8 per cent to US$1276.9m and the EBITDA rose by 32.4 per cent to US$192m. The trading result swung from a US$26.6m loss into a profit of US$36.8m and after a net interest charge 2.2 per cent lower at US$103.6m, the pre-tax loss was reduced by 50.7 per cent to US$64.2m. The net attributable loss was reduced by 64.8 per cent, to US$31.5m. Capital investment is now increasing again and went up by 78.8 per cent to US$60m. Net debt declined... |
Vulcan Materials cement shipments improve, Jan-March 201303 May 2013, Published under Cement NewsLeading US aggregates producer Vulcan Materials' first quarter turnover was a mere 0.4 per cent ahead at US$538.2m higher and the EBITDA, which had recovered by 36.4 per cent a year ago, came off by 33.5 per cent to US$27.9m. At the trading level the seasonal loss increased by 8.2 per cent to US$50.1m. After a net interest charge that was 0.9 per cent higher at US$52.8m, the pre-tax loss emerged 5.2 per cent higher at US$100.4m and the net attributable loss was 5.4 per cent higher at US$5... |
Vulcan looks for further improvements in 201315 February 2013, Published under Cement NewsVulcan Materials' turnover edged up by 0.1 per cent last year to US$2567.3m, marking the second consecutive year of virtually static sales. EBITDA, again little changed, eased by 0.4 per cent to US$423.5m. Excluding exceptional exchange offer costs, the EBITDA increased by 9.2 per cent to US$466.8ms. After a net interest charge 2.4 per cent lower at US$211.9m, the pre-tax loss was again reduced by around one-fifth to US$120.4m and the net loss came down by 25.7 per cent to US$52.7m. Capi... |
Vulcan's cement losses drastically reduced12 November 2012, Published under Cement NewsVulcan Materials' turnover for the first nine months recovered by 0.5 per cent to US$1958.9m, while the EBITDA declined by 15.7 per cent to US$286.8m. The trading profit before capital restructuring costs increased by 5.2 per cent to US$72.6m. After a net interest charge three per cent lower at US$159.0m the pre-tax loss for the period increased by 29.1 per cent to US$125.5m and the net loss rose by 30.7 per cent to US$56.1m. The net debt was 3.7 per cent lower than a year earlier at US$... |
Vulcan looks for a much better second half27 July 2012, Published under Cement NewsVulcan Materials’ first half turnover improved by 3.4 per cent to US$1,230.0m, but the EBITDA was off by 0.9 per cent to US$145.1m. A fter a net interest charge 6.4 per cent lower at US$106.0m, the pre-tax loss for the period declined by 12.9 per cent to US$130.2m. If ignoring the US$42,1m defence costs against the unsolicited bid from the much smaller Martin Marietta Materials, the pre-tax loss was 41.3 per cent down to US$88.1m. A 27.8 per cent reduction in tax losses to US$56.1m meant tha... |
Martin Marietta violated confidentiality agreement, judge rules07 May 2012, Published under Cement NewsDelaware Judge Leo Strine has ruled that Martin Marietta violated a nondisclosure agreement with Vulcan and used confidential information in forming its USD5.3bn bid and proxy fight. It has been ordered to suspend all activities related to the deal for four months. Martin Marietta said on Monday, it would appeal the ruling: “We are disappointed with the decision rendered by the Delaware Court of Chancery, with which we strongly disagree,” the company said in a statement. “After carefully co... |
Vulcan's overall losses reduce, but rise in cement17 February 2012, Published under Cement NewsVulcan Materials' turnover edged ahead by 0.2% last year to US$2,564.6m and the EBITDA, which had dropped by 32.4% in 2010, recovered by 18.8% to US$440.4m. Excluding exceptional items, the EBITDA emerged at some US$353ms. After a net interest charge 20.2% higher at US$217.2m, the pre-tax loss was reduced by 20% to US$153.7m and the net loss reduced by 26.7% to US$70.8m. Capital expenditure, after two years of decline, increased by 14.6% to US$98.9m and is expected to be around US$100m th... |