Aggregate producers, equipment suppliers and others gathered last week at the 2024 Pit & Quarry Roundtable & Conference in South Florida.
The event at PGA National Resort took place Feb. 1-2, attracting a record number of registrants to reflect on 2023, look to the year ahead and discuss topics related to equipment and technology, safety and health, and more.
The Roundtable program featured a presentation by George Reddin, managing director at FMI Capital Advisors, who delivered a 2024 outlook for the construction materials market. Among the updates Reddin provided were those related to mergers and acquisitions.
“2023 started off very slow,” Reddin says, referring to industry M&A. “There was a lot of uncertainty. Where is inflation going? When will the Fed stop raising interest rates? Russia-Ukraine was a factor in the first half of the year, and the Middle East [conflict] came later.
“In the second half of the year, some of the noise subsides and it looks like interest rates may not go up anymore,” he adds. “Inflation started to trend right. We’re getting GDP numbers that were exceeding expectations. We have seen a very robust merger and acquisition activity in our space.”
Michael Johnson, president and CEO of the National Stone, Sand & Gravel Association, also spoke at the Roundtable, providing insights on legislative and regulatory developments pertinent to the industry during a Q&A with P&Q’s Kevin Yanik.
Ogletree Deakins’ Bill Doran visited with Yanik, as well, providing updates related to the Mine Safety & Health Administration (MSHA) – including ones on the agency’s final rule on mobile equipment.
“It’s going to be a big rule, but from my perspective and from the people I’ve talked to, operators have been receptive to it – specifically because it bills itself as not being a cookie-cutter, one-size-fits-all-type regulation,” says Doran, shareholder of the Washington, D.C., office at Ogletree Deakins, who co-authors the MSHA & The Law column each month within Pit & Quarry. “At least the way it’s written, it provides some flexibility for operators to design a written plan that addresses specific hazards and issues at each individual operation.”
What else you missed
In addition to P&Q’s regular speakers, Roundtable attendees had the opportunity to share their own insights during discussions moderated by Yanik and Pit & Quarry managing editor Jack Kopanski. The seven topics the magazine drew up for discussion this year were 2023 reflections; 2024 outlooks; major events and developments (i.e., 2024 elections, inflation); equipment and technology; trade shows and meetings; industry promotion and business management; and safety and health.
The Pit & Quarry Roundtable & Conference concluded with a panel discussion between Yanik and four aggregate producers who explored what’s viable now and what’s possible with equipment and technology. The four producers to sit on the panel were Anderson Columbia’s Ronaldo Dos Santos, Turner Mining Group’s Thomas Haun, Kraemer Mining & Materials’ Cody Ladd and Capital Aggregates’ Chris Williams.
A golf outing at PGA National Resort’s Match Course and a cocktail reception welcomed attendees to South Florida. The foursome of Jeff Avant (Atlanta Sand & Supply Co.), Matt Lepp (VDG), Jay Mizack (Carmeuse) and Charles Gilbert (Astec) won the golf outing with a 9-under par 59.
Look for P&Q’s full report dedicated to the 2024 Pit & Quarry Roundtable & Conference in the magazine’s April 2024 edition.
