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Vulcan, DOJ Reach Agreement on Aggregates USA Acquisition

Vulcan Materials Co. has reached an agreement with the Department of Justice (DOJ)  that will allow it to complete its $900 million acquisition of Aggregates USA LLC. 

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New Construction Starts in November Slide 12 Percent

At a seasonally adjusted annual rate of $650.5 billion, new construction starts in November dropped 12 percent from October, according to Dodge Data & Analytics. Nonresidential building fell 14 percent in November, retreating for the second month in a row after the sharp improvement reported in late summer. The nonbuilding construction sector, which can be volatile on a month-to-month basis, plunged 32 percent in November after its 28 percent hike in October, which included the start of two large natural gas pipeline projects.

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Single-Family Housing Starts Rise in November

Nationwide housing starts rose 3.3 percent in November to a seasonally adjusted annual rate of 1.297 million units after a downwardly revised October reading, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. This month’s reading is a post-recession high.

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Industry Associations Laud Tax Legislation

Congress has approved the Tax Cuts and Jobs Act, a massive plan to overhaul the tax code. The measure passed the House 224 to 201 as overwhelming Republican support carried the bill past unanimous Democratic opposition and ‘no’ votes from 12 GOP members. The House vote comes after the Senate approved an identical measure, with all Democrats opposed and all Republicans present in support.

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U.S. Concrete Acquires Cherokee

U.S. Concrete Inc. has acquired Junction, Texas-based ready-mixed concrete producer Cherokee Bridge and Road Inc. Cherokee, which serves the counties of Kimble and Menard through its three ready-mixed concrete plants, will become part of U.S. Concrete's Ingram Concrete LLC subsidiary.

Read more: U.S. Concrete Acquires Cherokee