Vulcan Materials Company

Source: Wikipedia, the free encyclopedia.
Vulcan Materials Company
Number of employees
12,000[2] (2023)
WebsiteVulcanMaterials.com

Vulcan Materials Company (

Cancun
. This quarry supplies Tampa, New Orleans, Houston, and Brownsville, Texas, as well as other Gulf coast seaports, with crushed limestone via large 62,000-ton self-discharging ships.

History

In the late 1980s Vulcan acquired Reed Crushed Stone, near Kentucky.[3][4]

On June 7, 2005, Vulcan completed the sale of its chemicals business, known as Vulcan Chemicals, to

Occidental Chemical Corporation. The sale of assets included Vulcan's chloralkali
plants in Wichita, Kansas; Geismar, Louisiana; and Port Edwards, Wisconsin, as well as Vulcan Chemicals' joint venture located in Geismar, Louisiana. In 2005, Vulcan acquired 11 aggregates operations and five asphalt plants in Arizona, Georgia, Indiana and Tennessee.

On February 19, 2007, Vulcan announced that it would buy stone and cement producer Florida Rock Industries for $4.7 billion.[5][6] Vulcan completed the acquisition of Florida Rock on November 16, 2007.[7]

In March 2007, Vulcan announced that it had been named to

Fortune Magazine's list of Most Admired Companies for the sixth time. The company was ranked first in its industry sector, "Building Materials, Glass." Overall, Vulcan ranked among the top 10 companies in the Fortune 1000 for both long-term investment and social responsibility
.

In January 2014, Vulcan Materials announced they would be selling their Florida Rock Industry (cement and ready-mixed concrete) plants and equipment to

Cementos Argos, of Colombia. In March 2014, Vulcan was able to fully divest these properties to Cementos Argos.[8]

In January 2018, Vulcan Materials was found to be partially responsible for the Bayou Corne sinkhole, along with Occidental Petroleum and Texas Brine Company.[9]

In June 2021, Vulcan Materials announced they would be acquiring US Concrete (USCR) for $74 per share, a 30% premium on the date of the announcement. U.S. Concrete was formed in 1999, with its headquarters in Euless, TX. The deal is valued at $1.3 billion. The acquisition will allow for integrated expansion of Vulcan and make the subsidiary debt-free with adequate working capital. The deal has been approved by both boards and will close in the second half of 2021.[10]

In early 2023 after being accused by president

Andrés Manuel López Obrador of exporting materials from Mexico without a permit, the Mexican military seized a marine terminal belonging to Vulcan leading to a diplomatic spat between the US and Mexico.[11]

References

  1. ^ "VULCAN REPORTS FOURTH QUARTER AND FULL YEAR 2022 RESULTS". Vulcan Materials Company. Retrieved Apr 2, 2023.
  2. ^ "Vulcan Materials". SEC.gov. Retrieved 2023-04-02.
  3. ISBN 9780160359316
    .
  4. ISBN 9781411323292
    .
  5. ^ Dolmetsch, Chris & Lococo, Edmond (19 Feb 2007). "Vulcan Materials to Buy Florida Rock for $4.6 Billion (Update4)". Bloomberg. Retrieved 12 May 2015.
  6. ^ "Vulcan Materials to buy Florida Rock for $4.6 billion". Reuters. 19 February 2007. Retrieved 27 May 2021.
  7. ^ Zubko, Nick (19 March 2008). "Florida Rock Industries Inc.: Under New Management". Industry Week. Retrieved 27 May 2021.
  8. ^ Basch, Mark (27 January 2014). "Vulcan selling former Florida Rock cement facilities". Jacksonville Daily Record. Retrieved 12 May 2015.
  9. ^ Judge: Fault for Bayou Corne sinkhole lies with Texas Brine, OxyChem, Vulcan; companies had decades of warnings The Advocate
  10. ^ Lenihan, Rob (7 June 2021). "U.S. Concrete Skyrockets on Deal to Be Bought for $1.29B by Vulcan". The Street. Retrieved 7 Jun 2021.
  11. ^ Haldevang, Max (19 Mar 2023). "Vulcan Facility Seizure Adds to Tension Between US and Mexico".

External links

  • Vulcan Materials website
  • U.S. v. Vulcan Materials Co. and Florida Rock Industries Inc., a US Supreme court case
  • Business data for Vulcan Materials Company:
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