Rock Products

OCT 2018

Rock Products is the aggregates industry's leading source for market analysis and technology solutions, delivering critical content focusing on aggregates-processing equipment; operational efficiencies; management best practices; comprehensive market

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16 • ROCK products • October 2018 IN THE KNOW Eurovia signed an agreement with Salini Impregilo Group to acquire the Cheshire, Conn.-based Lane Asphalt Plants and Paving division of its subsidary Lane Construction. The transaction is reported at $555 million with closing and payment expected in the fourth quarter of 2018. These operations, based in 10 states, on the East Coast and in Texas, gener- ate more than $600 million in annual revenue and include approximately 40 asphalt-production plants and several quarries. The acquisition complements Euro- via's current operations in the United States where its subsidiaries Hubbard Construction and Blythe Construction operate in the Southeastern states of Florida, Georgia, North Carolina and South Carolina. As a result of the acquisition, subject to regulatory approval, Eurovia becomes one of the larger asphalt producers on the East Coast with a total revenue of about $1.2 billion. "We are divesting an asset that is not strategic for us as we consolidate the growth of Lane, a company that is des- tined to become a development pole for the group in North America in all seg- ments of large, complex infrastructure – from transport to tunneling to water," Pietro Salini, chief executive officer of the Salini Impregilo Group, said in a statement. "From an industrial perspec- tive, the sale of the Plants and Paving division will allow Lane to reorganize itself and focus on big public projects. It already has a backlog of about $3 bil- lion, revenue of about $1.4 billion in the United States excluding the division and stable cash generation." Eurovia has a network of more than 300 quarries worldwide that produce 90 million tpy of aggregates. FAST FACT These operations, based in 10 states, on the East Coast and in Texas, gen- erate more than $600 mil- lion in annual revenue. primarily engaged in industrial engi- neering, electronics, energy, healthcare and infrastructure activities. Ellerbusch has a 25-year tenure in the chemicals and energy industries and her experiences span chemicals, refining and marketing and biofuels. Since June 2017, Ellerbusch has served as CEO of Air Liquide USA LLC, the U.S. subsidiary of Air Liquide S.A., a world leader in gases, technologies and ser- vices for industry and health, with a presence in 80 countries and more than three million customers and patients. Eurovia Acquires Lane Asphalt Plants & Paving CRH PLC announced interim results for its second quarter. The company is reporting: •  Sales of €11.9 billion, 1 percent ahead of 2017. •  Like-for-like sales ahead 2 percent; up 1 percent in Europe, up 3 percent in the Americas and down 2 percent in Asia. "We have had a good first half despite significant weather disruption in Europe and North America in the first quarter," said Albert Manifold, chief executive. "Construction markets con- tinued to recover and pricing gathered momentum in key European markets while there was solid volume and price growth against a positive economic backdrop in the Americas. Active portfolio management remains an important element of our ongoing stra- tegic focus on capital allocation while integration of our recent acquisitions is progressing as planned." Total aggregates volumes, including the impact of acquisitions and divest- ments, were 9 percent ahead of 2017 and average prices increased by 1 per- cent; like-for-like volumes increased 4 percent and like-for-like pricing improved 2 percent, supported by more benign weather in the second quarter and solid underlying market demand in the West and South divisions. After a shortfall in asphalt volumes in the first quarter across most regions, first half total volumes were 2 per- cent ahead of 2017 and were flat on a like-for-like basis, while total prices increased by 6 percent against a back- drop of higher input costs. U.S. ready-mixed concrete volumes on a like-for-like basis were 2 percent ahead of 2017, and average prices increased 4 percent, while total volumes including acquisitions were 26 percent ahead. Total sales in its paving and construction FAST FACT Total aggregates vol- umes, including the impact of acquisitions and divestments, were 9 percent ahead of 2017. CRH Aggregates Volumes Up in Second Quarter

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