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Mexico’s Elementia closes on Dragon, Keystone parent

Sources: Elementia S.A.B. de C.V., Mexico City; CP staff

The Elementia board of directors approved a multi-step transaction with Spain’s Cementos Portland Valderrivas S.A., yielding a U.S. cement market stake through Giant Cement Holding Inc. The deal saw a) Elementia pay $220 million for a 55 percent stake and full control of the business; b) Elementia grant Giant Cement a $305 million loan through committed credit lines; and, c) Giant Cement utilize the $525 million infusion to retire 100 percent of its debt.

Read more: Mexico’s Elementia closes on Dragon, Keystone parent

Trump to name Vulcan director, former Labor chief to head DOT

Sources: National Stone, Sand & Gravel Association (NSSGA), Alexandria, Va.; CP staff

President-elect Donald Trump will nominate Elaine Chao to be U.S. Secretary of Transportation. A Vulcan Materials Co. director and the wife of Senate Majority Leader Mitch McConnell (R-Ky.), she was Secretary of Labor from 2001–2009, throughout both terms of President George W. Bush, and has also served as DOT deputy secretary and Federal Maritime Commission chairman.

Read more: Trump to name Vulcan director, former Labor chief to head DOT

PCA, NCMA veteran Szoke to lead ACI codes and standards expansion

Source: American Concrete Institute, Farmington Hills, Mich.; CP staff

Effective January, Steve Szoke will fill a new ACI position concentrating on efforts to disseminate and position Institute codes, standards, and certification programs beyond North America, with special emphasis on outreach to technical and regulatory authorities.

Read more: PCA, NCMA veteran Szoke to lead ACI codes and standards expansion

Cemex to unload Rinker pipe and precast business in $500M Quikrete deal

Sources: Cemex S.A.B. de C.V., Monterrey, Mexico; CP staff

Cemex is on track to unload in early 2017 a major non-core U.S. asset: the Rinker Materials concrete pipe and precast business. Under a definitive agreement announced November 28, the producer will sell the entity to Atlanta-based Quikrete Holdings Inc. for about $500 million, plus an additional $40 million depending on future performance.

Read more: Cemex to unload Rinker pipe and precast business in $500M Quikrete deal

Mack, McNeilus commit Granite-mounted Bridgemaster to CIM Auction

Sources: CIM National Steering Committee, Murfreesboro, Tenn.; CP staff

Mack Trucks Inc. and McNeilus Cos. are sustaining a generous custom by donating the 2017 Concrete Industry Management Auction centerpiece: An 11-yd. M80 Bridgemaster transit mixer mounted on a Granite Axle Forward GU713 model. Truck bidding will cap the 11th annual auction, staged January 18 in the Las Vegas Convention Center amid the 2017 World of Concrete.

Read more: Mack, McNeilus commit Granite-mounted Bridgemaster to CIM Auction