Vulcan Materials Co.

UPS executive joins Vulcan’s board of directors

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Vulcan Materials Co. announced the election of George Willis to its board of directors, effective immediately.  Willis will serve on the audit and safety, health and environmental affairs committees of the board. Willis is the president, U.S. Operations of UPS, a global leader in logistics, offering a broad range of solutions including transporting packages and freight, facilitating international trade, and deploying advanced technology to more efficiently manage the world of business.

“We are delighted to welcome George Willis to Vulcan’s Board of Directors,” said Vulcan Materials Company Chairman and CEO Tom Hill in a press release. “George has demonstrated exceptional leadership in his over 35-year career with UPS. His extensive experience with operations and logistics in a complex global business environment will provide us with invaluable insight on matters critical to our business.”

With the addition of Willis, Vulcan’s 11-member board consists of 10 independent directors.

Vulcan’s Quarry Crusher Run Series raises funds for its local communities

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In less than a decade, Vulcan Materials Co.’s Quarry Crusher Run Series has drawn more than 13,000 racers and raised over $500,000 for its local communities. Importantly, the race events also provide an opportunity for community members to enter an aggregate operation, learn what happens behind the gates, and understand how its products are used throughout the community.

“A lot of people run or walk just to come out to a quarry and see what’s behind those gates. People are curious, so it’s like a big open house for us, and we love sharing our story with our neighbors in the community,” says Carol Landrum, manager of community and government relations, Southeast Division, Vulcan Materials Co. “Nothing helps people understand our business better than letting them see it for themselves.”

“It’s that ‘aha’ moment when you enter a quarry,” adds Jaime Lomas, race director. “It’s not something that people often get to see.”

To learn more or sign up for Quarry Crusher Run Series, visit its website. Watch for more background on the event in the Good Neighbors column in the April issue of Rock Products.

Editor’s note: The March run was canceled due to concerns with COVID-19.

Higher aggregates and asphalt earnings drive Vulcan’s fourth quarter

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Vulcan Materials Co. announced results for the quarter ended December 31, 2019, noting that higher segment earnings in Aggregates and Asphalt helped drive 15 percent year-over-year growth in the company’s fourth quarter earnings from continuing operations. 

Full year revenues were $4.9 billion, up 12 percent as compared to the prior year, and net earnings were $618 million, an increase of 20 percent.  Adjusted EBITDA increased 12 percent to $1.27 billion.  At year end, total debt was $2.8 billion, or 2.2 times trailing-twelve month Adjusted EBITDA.

“2019 marks another year of strong earnings growth and cash generation. We are particularly proud of our people who worked hard to achieve these results while ensuring another year of world-class safety performance,” said Tom Hill, Vulcan chairman and CEO, in a press release. “Widespread improvements in pricing helped drive 8 percent growth in our industry-leading unit profitability and double-digit growth in Adjusted EBITDA, a strong result despite some higher-than-expected costs in the fourth quarter. Industry leadership in safety and pace-setting unit margins are both evidence of our strong and healthy business. Going forward, our compounding unit margins and our disciplined capital allocation position us to increase our cash flows and improve our return on invested capital again in 2020.”

Aggregates results

Fourth quarter sales increased 10 percent, while gross profit grew 7 percent to $275 million or $5.32 per ton. Fourth quarter aggregates shipments increased 4 percent compared to the same quarter a year prior. The freight-adjusted average sales price increased 5.5 percent to $13.96. The fourth quarter was negatively impacted by higher repair and maintenance costs, geographic volume mix including higher sales volumes in rail-served remote markets, and lower tipping fees for clean fill.

For the full year, segment sales increased 14 percent, driven by volume growth of 7 percent and price growth of 5.6 percent. The freight-adjusted price per ton for the full year was $13.99. Gross profit increased 16 percent, and unit profitability grew by 8 percent to $5.32 per ton. Cash gross profit for the year was $6.74 per ton.

2020 outlook

“Looking ahead, demand in our markets will continue to benefit from higher levels of highway funding and continued growth in residential and nonresidential markets,” Hill said. “This visibility into demand growth has already set the stage for solid price improvement in 2020. Price improvement coupled with our four strategic initiatives (Commercial and Operational Excellence, Logistics Innovation and Strategic Sourcing) should continue to increase unit profitability.” 

Three fire departments team to rescue dog at Vulcan’s Greenwood Quarry

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Greenwood City Fire and Rescue, Greenwood County Fire Rescue, and Ware Shoals Fire Rescue teamed up to rescue a puppy that had fallen to a rock ledge in Vulcan’s Greenwood quarry. Photo courtesy of Greenwood City Fire Rescue.

Earlier this month, the Greenwood City Fire Rescue executed a high angle rescue to save a young dog that had fallen into Vulcan Materials Co.’s Greenwood, S.C., quarry. The puppy was wearing a GPS collar and was located in the quarry after being missing for nearly a day. It had fallen approximately 60 feet and was trapped on a rock ledge.

The fire department reports that its Rescue 1 and Battalion 2 units responded to the rescue call, and worked with the Department of Natural Resources and Greenwood County Fire Rescue to retrieve the puppy.

Using specialized ropes and equipment rescue worker, Lt. Chris James, was lowered to the rock ledge where the dog had fallen. Once the dog was secured, Lt. James and the logs were lowered another 150 feet to a larger rock ledge.

A third fire department, Ware Shoals Fire Rescue, joined the effort with its new ladder truck. The ladder truck was set up at the quarry floor and the 107-foot ladder was then used to bring Lt. James and the dog down from the highwall.

The rescue crews nicknamed the pup “Rocky” in honor of his adventure.

TCEQ approves air quality permit for Vulcan operation

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Vulcan’s proposed operation in Comal County, Texas, moved one step closer to reality.

Vulcan Material Co.’s plans for a 1,500-acre limestone quarry in Comal County took another step forward, according to a report in the San Antonio Business Journal. All three commissioners of the Texas Commission on Environmental Quality (TCEQ) approved the operator’s air permit following an earlier decision by an administrative law judge that particulate matter and crystalline silica released by the operation would not exceed state limits.

The quarry has faced several challenges. An opposition group, Friends of Dry Comal Creek, has opposed the quarry and told the San Antonio Business Journal that it plans to file a motion requesting TCEQ to reconsider its decision. In addition, State Rep. Kyle Biedermann sent a policy analyst to permit hearings to read a letter into the record. The letter asked for the TCEQ to impose tighter standards on aggregate producers, claiming that current standards don’t protect public health, the environment, or local acquifers.