Martin Marietta cement business hit by weather
Published by Jonathan Rowland,
Editor
World Cement,
Martin Marietta saw its cement shipments slip 9.7% in 3Q17 as the business felt the impact of the fourth wettest quarter in the last 123 year in Texas, where all of its cement operations are located.
The company operates two cement plants – Midlothian near Dallas and Hunter to the north of San Antonia – as well as three cement terminals around Houston.
“While Hurricanes Harvey and Irma unquestionably impacted our business […] weather-related events are short-term in nature and dislocations or delays are subsequently resolved,” said Ward Nye, Chairman, President, and CEO.
"We remain confident in Martin Marietta's long-term outlook, with the fundamental drivers for broad-based construction activity supporting a steady and extended, yet somewhat slower than anticipated, cyclical recovery across our geographic footprint.”
Despite the challenging weather condition, the cement product line saw prices rise 3.9% over the quarter, thanks to ongoing construction activity in the Dallas/Fort Worth area. Revenues for the cement product line are expected to be US$379 million for the year, the company added, slightly down on last year’s US$389 million.
Read the article online at: https://www.worldcement.com/the-americas/09112017/martin-marietta-cement-business-hit-by-weather/
You might also like
Christian Pfeiffer awarded sustainable ball mill contract from Hallett Construction Materials
Christian Pfeiffer has been assigned with the delivery of a complete grinding circuit, consisting of a Ø5.0 x 16.25m ball mill and an QDK T 250-Z high efficiency separator, completed by auxiliary equipment and conveying systems.