Vulcan Reveals Addl. Acquisitions

(RTTNews) - Vulcan Materials Co (VMC), a producer of construction aggregates, said Tuesday it completed six acquisitions during the third quarter that further expand its footprint and reserve positions in key America markets.

The most recent acquisitions include five aggregates facilities and associated downstream assets in Phoenix, Arizona and Albuquerque and Santa Fe, New Mexico, as well as an aggregates operation in Delaware serving Northern Virginia and Washington, DC.

These transactions follow the previously disclosed acquisitions of (i) four aggregates facilities in the San Francisco Bay Area and (ii) aggregates operations and distribution yards that serve the greater Dallas / Fort Worth market and also complement existing Vulcan rail-served markets in Texas. Collectively, through these recent acquisitions, Vulcan has added more than 450 million tons of high quality, permitted aggregates reserves serving markets where such reserves are relatively scarce.

These transactions, totaling approximately $320 million of investment, represent the continued strategic redeployment of capital from the sale of Vulcan's former cement and ready mix concrete business in Florida in the first quarter of 2014.

Also, the structure of these transactions - along with an earlier investment in reserves at a key quarry serving San Diego - has enabled the company to defer income taxes on about $145 million in capital gains.