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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

Contractors welcome judge’s blocking of Obama overtime rule

Sources: Associated Builders and Contractors, Washington, D.C.; CP staff

A Department of Labor (DOL) Wage and Hour Division rule doubling the Fair Labor Standards Act (FLSA) salary threshold for employees exempt from overtime pay—and automatically raising the bar on three-year intervals—will not take hold on a December 1 target, owing to a U.S. District Court for the Eastern District of Texas preliminary injunction order.

Read more: Contractors welcome judge’s blocking of Obama overtime rule

LafargeHolcim targets insulation market with mineral foam product

Sources: LafargeHolcim Ltd., Zurich; CP staff

LafargeHolcim characterizes its new product, Airium, as a disruptive technology for the insulation market. Developed at the producer’s global research & development center near Lyon, France, the fire-resistant, mineral insulating foam improves buildings’ energy efficiency from floor to ceiling.

Read more: LafargeHolcim targets insulation market with mineral foam product

Headwaters on board with Boral merger offer

Sources: Headwaters Inc., South Jordan, Utah; Boral Ltd., Sydney; CP staff

A binding merger agreement announced Sunday, November 20, will unite the top two U.S. fly ash marketers and precast concrete stone veneer producers. Boral Ltd. will acquire Headwaters Inc. in a cash deal with enterprise value of approximately $2.6 billion; stockholders will receive $24.25 per share, a 21 percent premium to Headwaters’ November 18 closing price.

Read more: Headwaters on board with Boral merger offer