Concrete Products

SEP 2018

Concrete Products covers the issues that attract producers of ready mixed and manufactured concrete focusing on equipment and material technology, market development and management topics.

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www.concreteproducts.com September 2018 • 23 Summit Materials recently closed on Buildex Inc., Ottawa, Kan.- based proprietor of the Haydite brand of expanded shale lightweight aggregate. One of four businesses Denver-based Summit added during second quarter transactions totaling $75 million, Buildex spans two plants and 750,000 cubic yards' capacity, and is strategic to sister cement, ready mixed, aggregate and asphalt operations in Great Plains and Intermountain states. Companion June-July deals brought Summit quarry and asphalt production assets in Olathe, Kan., plus Virginia and Texas aggregates producers Buckingham Slate and XIT. "Our vertically integrated, multi-local strategy continues to gain momentum in regional markets, positioning Summit as an emerging leader in the North American heavy materials industry," CEO Tom Hill told investors in a report on second quarter and year-to-date activities, adding that the company remains on pace to achieve record full-year Adjusted EBITDA [earnings before interest, taxes, deprecia- tion and amortization] in 2018. Unfavorable Spring weather effects and higher than projected operating costs, however, compelled Summit to lower 2018 Adjusted EBITDA guidance by 7 percent—from a range of $495 million–$515 million to $460 million–$480 million. "The pace of cost inflation in raw materials, freight, labor and fuel exceeded our expectations in the first half of 2018," Hill affirmed. "Although we anticipated some measure of cost inflation entering the year, the effective date of our announced price increases lagged behind the impact of higher costs incurred by our business. Impor- tantly, our average selling prices on both materials and products have gained traction entering the third quarter, which we expect will offset these higher variable costs in the second half." Separately, Summit Materials appointed Anne Cooney and Susan Ellerbusch as new independent directors, bringing the cement, con- crete and aggregate producer's board to 10 members. Concurrently, charter director Neil Simpkins will depart the board at the close of the Summit's fiscal year. As president of the Alpharetta, Ga.-based Process Industries and Drives Division of Siemens Industry, Cooney leads operational and commercial activities for a portfolio of Siemens AG products and services across process automation, low and medium voltage motors and drives. She previously served in managerial roles with Aladdin Industries and General Electric, and is also a director of Manitowoc Co. With a 25-year tenure in the chemicals and energy industries, Ellerbusch is chief executive officer of Air Liquide USA, responsible for the company's Large Industries and Electronics busi- nesses. Prior to Air Liquide, she held leadership roles at BP, most recently serving as Biofuels North America president. Maryland-based Chaney Enterprises recently installed CarbonCure Technologies equipment at its NRMCA Green-Star Certified Waldorf concrete plant. CarbonCure assemblies inject recycled carbon dioxide during the mixing process. Once introduced to the mix, the CO2 trans- forms into a mineral, promotes compressive strength development, and is permanently embedded in the hardened concrete. Separately, Halifax, N.S.-based CarbonCure Technologies is prepar- ing to outfit the West Bay ready mixed plants of Central Concrete Supply Co., San Jose, Calif., with its CO2 mix injection system. "Central Concrete has been a leader in development of low-carbon concrete that exceeds the performance of traditional concrete," says U.S. Concrete West Region Vice President Herb Burton. Texas-based U.S. Concrete Inc. has appointed Susan Ball to its board of directors, citing her finance and accounting experience from a 12-year tenure with CVR Energy, where she most recently served as executive vice president, chief financial officer and treasurer. BRIEFS PRODUCERS ColorFlo ® SG Granular Pigment SG • Free flowing • Low dusting • Wet & dry slump dispersion • Ready Mix, Precast, and Block & Paver applications • Granulated in Springfield, IL • Systems for all applications • Dedicated service technicians • Built in USA SOLOMON COLORS, INC. 4050 Color Plant Road, Springfield, IL 62702 www.solomoncolors.com | (800) 624-0261 An Employee Owned Company USA G RAN ULA TED IN ULA TED IN ULA

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