Pit & Quarry, December 2018

THE INDUSTRY LOOKING BACK AND AHEAD I n 2018 Luck Companies celebrated a major milestone in the companys history our 95th anniversary since our founder Charles Luck Jr established our first location in 1923 in Richmond Virginia Today we are proud to be the nations largest privately held family owned producer of crushed stone sand and gravel in the United States When reflecting on the past 12 months a few highlights come to mind As a whole aggregate industry heritage locations in select markets operated at sub peak volumes and Luck Companies was no exception Our customers are reporting strong backlogs for construction and other projects for the remainder of 2018 and well into the new year The federal government continues to provide consistent long term funding for surface transportation infrastructure through the FAST Act and many large heavy civil projects are either starting or underway in markets throughout the U S For this reason we expect the next 15 to 18 months to be busy in terms of aggregate industry activity In fact several of the leading economic indicators such as the Dodge Momentum Index and the Architecture Billings Index among others point to steady and strong construction activity throughout 2019 Jerome Powell chairman of the Federal Reserve recently underscored U S economic strength stating that relatively low inflation and years of strong job growth are still ahead KEY INITIATIVES This is an exciting and challenging time in our industry for a number of reasons As the baby boomer generation transitions to retirement or a reduced work schedule we are preparing for a shortage The pursuit of innovation like remotecontrolled loaders remains high on Luck Stones radar of skilled labor It is vital that our industry develop strategies to attract and engage younger generations that are examining a companys culture and values before accepting positions At Luck Companies we have a mission that calls us to ignite the potential of people and accordingly so we are proud to offer advanced technical training and leadership development to our associates Our associates are encouraged to explore new methods and harness their skillsets while helping others do the same We are also immersed in leadership succession planning that will strengthen our bench of mid level and senior managers enabling younger associates to assume the critical role of leading the company well into the 21st century Since our companys inception we have always prioritized and valued innovation From safety inspired initiatives such as automating our plants in the 1970s operating remote controlled loaders in potentially hazardous areas of our pits and utilizing drone photography for our equipment inspections to developing a number of leading edge award winning mobile applications designed to streamline our customers and haulers experiences with us we are inspired by the opportunities that technology advancement affords our business and our industry Today technology is racing into every aspect of our industry particularly as it relates to transportation and logistics We are in a transportation revolution with new construction materials being developed and advanced infrastructure and modifications in roadway design at an all time high We are witnessing the rise of autonomous vehicles Moving into 2019 we are incredibly energized Our company is healthy and growing We are in an exciting period of strategic accelerated growth and expansion deeper into the Southeast with recent acquisitions in South Carolina and Georgia This extension of our companys portfolio achieves a number of corporate growth objectives and enables us to create opportunities for people across our company broaden the reach and impact of our mission and ensure an exceptional experience for the customers and communities we proudly serve a core component of Luck Companies operating philosophy and beliefs P Q John Pullen is chief growth officer at Luck Companies STATEOF PRODUCER OUTLOOK BY JOHN PULLEN 28 PIT QUARRY December 2018 pitandquarry com LUCK STONE We must develop strategies to attract and engage younger generations that are examining a companys culture and values before accepting positions