CONSTRUCTION MATERIALS MIDYEAR UPDATE

摘要

FMI continues to see three key trends driving merger and acquisition (M&A) activity in the construction materials sector: new competitive dynamics in the United States; recovering financial performance of both public firms and smaller, independent players; and the certainty brought by long-term federal highway funding. At midyear, construction materials M&A activity remains steady. Summit Materials, Martin Marietta and U.S. Con-crete have been the most active participants in M&A markets this year, while larger international acquirers continue to integrate recently completed transactions or work to deleverage their balance sheets. Cemex's $400 million divestiture of cement plants in Lyons, Colo., and Odessa, Texas, as well as three terminals and a building materials business to GCC (Grupo Cementos de Chihuahua) in May, is direct evidence of the latter dynamic.