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Stock Market & Financial Investment News

News Breaks
January 23, 2014
07:06 EDTVMCVulcan Materials sells Florida cement and concrete assets for $720M
Vulcan Materials has entered into a definitive agreement to sell the company's cement and concrete businesses in the Florida area to Cementos Argos for gross cash proceeds of $720M. Vulcan is retaining all of its aggregates operations in Florida. The company will continue to provide aggregates to the divested concrete facilities, at market prices, for a period of 20 years. The transaction is expected to close in Q1. The completion of the asset sale to Cementos Argos and related restructuring and other transaction-related expenses will result in a pretax gain of approximately $210M, or $1.00 per diluted share. The company expects to record a one-time charge of approximately 37c per diluted share.
News For VMC From The Last 14 Days
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February 4, 2016
08:06 EDTVMCVulcan Materials sees 2016 aggregates shipments up 7% to 191M tons
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08:04 EDTVMCVulcan Materials sees FY16 adjusted EBITDA $1-$1.1B
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08:04 EDTVMCVulcan Materials expects overall demand growth to be 7% in 2016
The company expects overall demand growth in Vulcan-served markets to be approximately 7% in 2016, driven by continued growth in both private and public construction. Private construction activity should continue to grow in both residential and nonresidential segments, led by double-digit growth in residential. Public construction in Vulcan's markets should continue to benefit from state-led highway spending in key states and record levels of local tax receipts. Additionally, with the passage of a new, fully funded, long-term federal highway bill in December 2015, the states now have greater funding stability and certainty to undertake much needed transportation projects. As a result, the company believes mid-single digit growth for this aggregates-intensive end market is possible in 2016. With the exception of certain markets in Texas, construction activity in Vulcan-served markets remains well below long-term levels of per capita consumption. Key states such as California, Florida, and Georgia continue to enjoy solid growth rates as they gradually recover toward more normal levels of construction activity and materials consumption, and we expect that trend to continue in 2016. As a result, demand growth for our products continues, and we are encouraged by the pricing fundamentals throughout our markets.
08:03 EDTVMCVulcan Materials reports Q4 EPS cont ops 69c, consensus 61c
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February 2, 2016
05:59 EDTVMCVulcan Materials added to US 1 List at BofA/Merrill

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