Rock Products

APR 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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10 • ROCK products • April 2018 IN THE KNOW FAST FACT Performance increased compared to the prior quarter and fourth-quar- ter 2016 as a result of increased production and sales volumes. benefit of survey-grade, aerial topo- graphic data that enables them to accurately define volumes for stock- piles, blasting and stripping. It easily and rapidly enables them to take that data and use it to calculate volumes, manage material, create inventory reports, and validate or update design plans. We're extremely pleased so many companies are reaping such significant benefits from our platform." Natural Resource Partners Aggregates Business Rises Natural Resource Partners L.P. (NRP) reported fourth quarter and full-year 2017 results. The company posted net income of $30.7 million in the fourth quarter of 2017, and net income of $88.7 million for the year. Craig Nunez, president and chief oper- ating officer, commented: "A successful fourth quarter capped a year of signifi- cant achievement for NRP. We continue to generate substantial amounts of cash from operations and our fourth quar- ter results have considerably improved compared to prior year levels. Com- pared to the prior quarter, our results reflect improved performances from our Coal Royalty, Soda Ash and Construction Aggregates business segments. In addition, we continue to strengthen our balance sheet and have reduced debt $311.1 million during 2017. We enter 2018 with a stronger balance sheet, lower interest expense and improved operating performance." Fourth quarter operating income for its Construction Aggregates busi- ness was $2.0 million and Adjusted EBITDA was $5.1 million. Performance increased compared to the prior quar- ter and fourth-quarter 2016 as a result of increased production and sales volumes, higher margins on road con- struction and asphalt paving projects, and increased marine terminal activity. For the quarter, net cash provided by (used in) operating, investing and financing activities were $4.0 million, $(0.7) million and $(0.2) million, respec- tively, and DCF was $3.4 million. Construction Aggregates operating income for the year was $6.4 million and Adjusted EBITDA was $19.8 million. These amounts improved compared to the prior year primarily due to a higher production and sales of crushed stone, gravel and sand, higher delivery and haul income, and increased road con- struction and asphalt paving projects. FAST FACT Kelly Limestone is a man- ufacturer of prill and pel- letized limestone, gypsum and dolomite products. ACG Materials Acquires Kelly Limestone Industrial minerals and aggregates producer ACG Materials acquired Kelly Limestone LLC. ACG Materials is part of the H.I.G. Capital group. Located in Kirksville, Mo., Kelly Lime- stone is a manufacturer of prill and pelletized limestone, gypsum and dolomite products sold into various agriculture and industrial applications. Kelly Limestone's Maxi Cal and Capsu- lated pelletized products are pioneering products in the agricultural and field turf industries. "We are excited about the strategic expansion of our operations with the addition of a leading specialty products producer in the Midwest," commented Paul Harrington, chief executive officer of ACG Materials. "Kelly Limestone will expand our strategic footprint within the Midwest and provide compli- mentary products to serve our growing agriculture and turf customers. Kelly Limestone has a long and successful history dating back to 1959, and we will be sure to serve as great stewards of the business going forward." "We are pleased to support ACG Materials in its acquisition of Kelly Limestone," commented Keval Patel, a managing director of H.I.G. Capital. "The investment further establishes ACG's national footprint and expands our market presence for specialized agricultural products. The acquisition continues our strategy to broaden ACG's geographic reach both regionally and nationally, as well as end market diversification." Kelly Limestone is the eighth add-on acquisition that ACG Materials has made since H.I.G. acquired the company at the end of 2012.

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