Rock Products

SEP 2017

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14 • ROCK products • September 2017 www.rockproducts.com I N D U S T RY N E W S IN THE KNOW FAST FACT Filling in the quarry will eventually turn it into a lake fed by Primrose Creek, which the company is working to restore by 2019. New Hope Quarry Reopens After Spat With Pennsylvania DEP One week after the Pennsylvania Department of Environmental Protec- tion (DEP) shut down operations at New Hope Crushed Stone and Lime in Solebury, Pa., the DEP said the com- pany had complied with the agency's order and it was allowed to reopen about two weeks later, according to The Intelligencer. The company was shut down after it missed a DEP reclamation deadline for a mining pit. New Hope Crushed Stone and Lime cited quarry trespass- ers, rainy weather and a high employee turnover rate as reasons the DEP dead- line was "impossible to meet." Since 2014, the DEP has given the company two deadlines to put varying amounts of fill in the pit at the quarry off Phillips Mill Road. The shutdown order came after the Pennsylvania Environmental Hearing Board ruled the quarry's excavation was a "public nuisance" and linked it to nearby sink- holes, including some on the Solebury School grounds. In January 2016, the department ordered the company to fill in 621,392 cu. yd. of backfill by March 2019. When the company fell behind schedule, the DEP ordered it to fill in a sepa- rate 76,868 cu. yd. of backfill between August 2016 and July 1. When workers missed the second deadline by 12,835 cu. yd., the DEP shut down the mining operation. The DEP lifted the shutdown after quarry inspections confirmed preliminary data. These inspections included a drone flyover, during which the DEP took photographs and turned them into a topographic map to estimate how much backfill the workers had placed, said department spokeswoman Virginia Cain. Filling in the quarry will eventually turn it into a lake fed by Primrose Creek, which the company is working to restore, also by 2019. "It is our goal to fully reclaim this prop- erty and meet our responsibilities but also so we can achieve the greatest prop- erty use for the land as we look to our next phase," company executives Chris- tina Cursley and Greg Rodrigo wrote in a June letter to DEP officials. "We are doing our best and working hard." FAST FACT Caterpillar Inc. announced second-quarter 2017 sales and revenues of $11.3 billion, compared with $10.3 billion in the second quarter of 2016. Caterpillar Second Quarter Revenues Up $1 Billion Caterpillar Inc. announced second-quarter 2017 sales and revenues of $11.3 billion, compared with $10.3 billion in the second quarter of 2016. Second-quarter 2017 profit per share was $1.35, compared with $0.93 per share in the second quarter of 2016. Excluding restructuring costs and a gain on the sale of an equity investment in IronPlanet, second-quarter 2017 adjusted profit per share was $1.49, compared to sec- ond-quarter 2016 adjusted profit per share of $1.09. Caterpillar's financial position continued to strengthen. Machinery, Energy & Transportation (ME&T) operating cash flow was $2.0 billion during the quarter, and ME&T's debt-to-capital ratio improved to 38.6 percent, compared with 41.7 percent at the end of the first quarter of 2017. In June, the company announced a quarterly cash dividend increase and ended the quarter with an enterprise cash bal- ance of $10.2 billion. efficiency and inventory management practices." Ken Palko, president and CEO, com- mented, "The first half of 2017 reflects a great outcome for Polaris, with reduced net loss, improved gross profit and EBITDA, and several capital projects underway as we position our- selves for additional sales of our new Fine Sand product. Volume is expected to increase significantly in the third quarter, while we work to maintain the current underlying cost structure and drive further margin improve- ments. We have already achieved several price increases for this year and we continue to negotiate actively with our customers to ensure our business reflects the strong market conditions prevailing in California."

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