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Posted By admin On September 1, 2011 @ 9:19 am In Articles,Data Mining,Departments | No Comments
Disappointing economic indicators threaten M&A activity
Analysts and investors were busy recently with the U.S. debt ceiling crisis and a steady stream of disappointing economic indicators. The result was a continued drop in stock prices for construction materials producers. This, together with poor quarterly earnings reports, could pose a threat to the pace of merger and acquisition activity as additional uncertainty creeps into the equation. These developments seem unlikely to change the desire of buyers and sellers to buy and sell, but there is concern that the increased uncertainty and absence of a clear recovery will affect deal pricing and the deal approval process.
Texas Industries, Inc. (TXI) has acquired the aggregate and ready-mix operations from Cemex serving the Austin market and the ready-mix operations serving the Houston market. TXI continues to operate aggregate, cement, and packaged materials facilities in the Houston market.
Oldcastle Materials, Inc. has acquired the assets of Everett Quarries. Everett Quarries operates five quarries serving northwest Missouri. The Everett Quarries will become part of Oldcastle’s Central West Division.
Rockydale Quarries Corporation, headquartered in Roanoke, Va., has acquired two quarry locations from C.S. Mundy Quarries Inc. The new locations will operate as the Rockydale-Flatrock Quarry located in Shenandoah County, Va., and the Rockydale-Broadway Quarry located outside of Harrisonburg, Va. Rockydale now operates seven quarry locations as well as a lime processing facility.
Pine Bluff Sand and Gravel Co., based in Pine Bluff, Ark., has acquired Ingram Materials LLC, based in Nashville, Tenn., from Ingram Industries Inc. As part of this transaction, Pine Bluff and Ingram Barge Company will enter into a long-term towage agreement under which Ingram Barge and Pine Bluff will tow Pine Bluff’s sand and gravel barges on the Cumberland and Tennessee Rivers. Pine Bluff Sand and Gravel Company provides marine contract and construction services, and manufactures and delivers sand and gravel, ready-mixed concrete, and asphalt. In addition, it owns and operates barges and towboats on the Arkansas, Missouri, Mississippi, Red, Ouachita, Black, and Pearl rivers and on the Gulf Intracoastal Waterway.
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