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Martin Marietta’s quarterly revenues, earnings rise
Martin Marietta Materials Inc. reported double-digit increases in revenues and earnings for the third quarter. Ward Nye, Martin Marietta president and CEO, says the ongoing recovery in private-sector construction, drove the company's third-quarter growth. "I am especially proud of the fact that our company achieved these strong results despite the continued public-sector construction headwinds," Nye says. "The combination of a 12 percent increase in consolidated net sales over the prior-year quarter and our ongoing focus on controlling costs resulted in a 13 percent increase in earnings per diluted share. These results reflect new third-quarter records for both net sales and earnings from operations in the specialty products business, as well as volume and pricing growth in the aggregates product line.” According to a press release, Martin Marietta's aggregates business experienced volume and pricing increases from all reportable segments and pricing growth in all product lines. Aggregates product line shipments increased 8.1 percent, and the specialty products business benefitted from strong dolomitic lime sales to achieve a 13 percent increase. “We… Keep Reading
Nonresidential building growth takes a sudden dip
The Dodge Momentum Index, a monthly measure of the first report for nonresidential building projects in planning, slipped 0.9 percent in October compared with the previous month, according to McGraw Hill Construction. October’s decline brought the momentum index to 115.3 – down from September’s 116.4. According to McGraw Hill Construction, this retreat may simply be a brief departure from the steady improvement nonresidential building projects in planning have shown since December 2012. At the same time, McGraw Hill Construction indicates that this dip may be a sign of renewed caution on the part of developers. The firm cites uncertainty about the political and economic environment stemming from the October government shutdown, as well as debt ceiling deliberations, as potential sources impacting nonresidential building. Specifically, commercial building plans dropped 2.1 percent while institutional building plans held steady. On the commercial side, a large decline in plans for new offices and stores outweighed gains for new hotel development, according to McGraw Hill Construction. Keep Reading
Talbert Manufacturing adds sales manager
Talbert Manufacturing hired Jennifer Koepke as its sales manager for the west region. Koepke will work directly with Talbert dealers in the western United States and Canada to help them market and sell Talbert trailers. According to a press release, Koepke was most recently the general manager at Sidump’r Trailer in Plainview, Neb., where she was responsible for rebranding and restructuring the company. Keep Reading
WEG Electric expanding in Mexico, China
WEG Electric plans to invest $345 million over the next five years to expand and increase production in Mexico and China, the company announced in a press release. According to WEG, its existing manufacturing complex in Mexico will benefit from expanded production capacity, as well as increased vertical integration, making it similar to WEG’s largest industrial complex in Brazil. The expansion will include the construction of a cast iron foundry that the company says will be capable of supplying all the needs for cast iron components in industrial electric motor frame sizes manufactured in Mexico and delivered to North American markets. The total investment is expected to be close to $210 million over the next five years, the company says. In China, WEG will build a new industrial electric motor manufacturing plant. In addition to this investment, WEG will expand an existing plant in China. Investments will total about $135 million through the year 2020. Both plants will help to meet the increased demand of the Asian market. Keep Reading
Xylem appoints national accounts manager for Godwin brand
Xylem Dewatering Solutions, which represents Xylem's Godwin brand, appointed Gregg Leslie as national accounts manager. Leslie will focus on national accounts customers, including government organizations and co-op services. According to a press release, Leslie has been in the pumping industry for 18 years. He previously worked with the Godwin brand as area sales manager for the Southeast. Keep Reading
Tradestar opens new facility, reaches milestone
Tradestar Corp. opened a new truck facility as part of its 45th anniversary celebration. The facility, which Tradestar says was necessary because it is projected to double in size over the next five years, spans more than 100,000 sq. ft. According to a press release, Tradestar expects the facility to help it shorten the time to make deliveries. Keep Reading
Mining societies unite to form technical partnership
Four global mining organizations, including the Society for Mining, Metallurgy and Exploration Inc. (SME), entered into a memorandum of understanding to establish the Global Mineral Professionals Alliance (GMPA). The organizations, which include the Australian Institute of Mining and Metallurgy, Canadian Institute of Mining, Metallurgy and Petroleum, and Southern African Institute of Mining and Metallurgy, will share education and public information. Services and benefits will include technical workshops and meetings, access to print and online libraries, print and online publications and host member registration rates for conferences. Over time, the GMPA intends to invite all professional and technical mining organizations from around the world to consider membership in the alliance. Keep Reading
Eagle Crusher names regional sales manager
Eagle Crusher Co. Inc. added Timothy Saine as regional sales manager. According to a press release, Saine has experience with manufacturers and distributors in the heavy equipment, crushing and screening industries. Keep Reading
IRock names eastern regional sales manager
IRock Crushers hired Thomas Jordan as its eastern regional sales manager. Jordan is tasked with strengthening IRock's dealer network along the East Coast, from Maine to Florida. According to a press release, Jordan is originally from Northern Ireland. He moved to the United States in 1999 and has worked as a dealer manager and sales manager for the past 17 years in the crushing and screening industry. Keep Reading
