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Data analytics, IoT integration top drone specialist’s 2018 construction trends

Sources: Identified Technologies, Pittsburgh; CP staff

Identified Technologies, a specialist in drone-enabled gathering of data from construction materials production and job sites, projects a watershed year for technology adoption among contractors, suppliers and customers. Leading the firm’s Top Construction Technology Trends of 2018:

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ConExpo-Con/Agg manager enters data analytics through Hargrove deal

Sources: Association of Equipment Manufacturers (AEM), Milwaukee; CP staff

AEM has acquired Minneapolis-based Hargrove & Associates Inc. (HAI), a data processing and business analytics company for whom it has been a client since 1989. The move dovetails a manufacturing industry transformation, driven by the innovative use of data, and enables AEM to further develop its statistics program for construction and agricultural equipment members.

Read more: ConExpo-Con/Agg manager enters data analytics through Hargrove deal

Summit Materials enlists K. Watson Jr. for EVP, COO post

Sources: Summit Materials Inc., Denver; CP staff

Cemex USA and Rinker Materials veteran Karl Watson Jr. has joined Summit Materials as executive vice president and chief operating officer, succeeding Douglas Rauh. He arrives at the ready mixed, cement, aggregates and asphalt producer with 25-plus years in construction materials, most recently serving as president of Martin Marietta Materials’ Cement & Southwest Ready Mix business.

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Commercial Metals to acquire 37 Gerdau rebar shops, mills for $600M

Sources: Commercial Metals Co., Irving, Texas; CP staff

On the heels of two nine-figure investments in concrete reinforcement milling capacity, Commercial Metals has agreed to acquire 33 rebar facilities plus steel mills in California, Florida, New Jersey and Tennessee from Gerdau S.A.

Read more: Commercial Metals to acquire 37 Gerdau rebar shops, mills for $600M

HeidelbergCement: U.S. tax reform a plus after $240M charge for 2017

Sources: HeidelbergCement AG, Germany; CP staff

Lehigh Hanson parent company HeidelbergCement estimates a €200 million ($240 million) charge against net 2017 profit due to accounting measures stemming from the Tax Cuts and Jobs Act —the sweeping tax reform President Donald Trump signed into law late last year. The law reduces the federal corporate tax rate from 35 percent to 21 percent, but requires companies like HeidelbergCement to recalculate loss carried-forwards and deferred tax assets on losses in their consolidated 2017 financial statements. The one-time action will not impact earnings before tax or cash flow in 2017, HeidelbergCement notes, adding that the new U.S. tax rate will positively affect group net profit and cash flow beginning in 2019.

Read more: HeidelbergCement: U.S. tax reform a plus after $240M charge for 2017