Pit & Quarry, April 2017

New eNterprise acquires assets from aggregate paviNg compaNies New Enterprise Stone Lime Co acquired assets from Berks Products Corp and EJB Paving Materials Co Through the acquisition New Enterprise gained two aggregate plants two hot mix asphalt plants four ready mixed concrete plants and a construction supply center in Berks County Pennsylvania The facilities are situated between the companys Lehigh Valley and Lancaster Pennsylvania locations According to New Enterprise the purchase price of the two acquisitions was about 463 million New Enterprise plans to leverage its new shared service center to integrate the nine acquired facilities into its operations New Enterprise Stone Lime continues to grow more than 90 years after the fifthgeneration founded P Q AggregAte Industry Index maY JUn JUl aUg seP oct noV Dec Jan 15 FeB mar aPr maY JUn JUl aUg sePt oct noV Dec Jan 16 family owned company was April 375 FeB mar aPr maY JUn JUl aUg seP oct noV Dec Jan 17 FeB mar aPr 400 350 300 250 Source Pit Quarry Above The P Q Aggregate Industry Index is up 15 points since the start of the year Below Industry stock prices backed off a bit from their post election peaks 12 month chart Price 52 Week range market caP in Billions stocks low high As of March 1 2017 source Yahoo Finance Cemex CX 914 549 951 1250 CRH Oldcastle CRH 3510 2582 3683 2908 Eagle Materials EXP 10621 6058 11064 514 Granite Construction GVA 5422 4016 6218 215 Heidelberg Cement HEI 9112 6512 9459 1813 LafargeHolcim LHN 5489 3398 5506 3322 Martin Marietta MLM 22227 14404 24398 1402 MDU Resources MDU 2713 1779 2992 530 Summit Materials SUM 2466 1748 2646 274 U S Concrete USCR 6665 4282 704 102 U S Lime Minerals USLM 7870 5039 795 044 Vulcan Materials VMC 12438 1003 13818 1646 Caterpillar under federal investigation F ederal officials seized documents and electronic records from three Caterpillar Inc facilities including its global headquarters in Peoria Illinois reports the Peoria Journal Star According to the Peoria Journal Star the investigation appears to stem from revelations about the companys tax strategy as outlined in a 2009 wrongful termination lawsuit brought by Daniel Schlicksup The lawsuit alleged the company shifted profits overseas and to offshore shell companies to avoid paying more than 2 billion in U S taxes The company has cooperated with investigators regarding offshore tax strategies says Jim Umpleby CEO of Caterpillar Continued from page 58 Colorado CRH also reports that it acquired certain quarry assets in Montreal All of these early 2017 acquisitions along with the purchase of Costello Industries a cold milling contractor in Connecticut represent a combined investment spend of 500 million euros or about 531 million CRHs development activity in the first two months of 2017 demonstrates both our strong pipeline and our commitment to value accretive portfolio management says Albert Manifold CRH chief executive CRH also announced disposals totaling 400 million euros or about 425 million pitandquarry com April 2017 PIT QUARRY 59