Vulcan To Expand Mexican Quarry Production Capacity And Purchases Third Ship
Wednesday, March 29, 2006, Birmingham, Ala. – Vulcan Materials Company (NYSE: VMC) today announced that it is performing a major expansion and upgrade of the processing facility at its Sac Tun quarry on Mexico’s Yucatan Peninsula and that it has acquired a third, Panamax-class, vessel to transport the additional volume of aggregates. The increased production and transportation capacity will allow Vulcan to meet strong market growth and demand along the U.S. Gulf Coast.
The plant expansion will increase annual production capacity at the quarry from approximately 9 million tons to approximately 12 million tons. The new ship will increase annual shipping capacity by approximately 3 million tons. Vulcan has purchased a bulk cargo vessel and will convert it to a self-unloading vessel as was done with the Company’s two existing vessels. The plant expansion and vessel conversion are expected to be completed by mid-2007.
“This project will allow Vulcan to increase its shipments to attractive markets along the Gulf Coast,” said Don James, Vulcan’s chairman and chief executive officer. “Market demand in this region is expected to continue to increase at a level above the national average, while the availability of local, quality aggregates continues to decline. Over time, we expect to continue to increase production and shipping capacity from our Sac Tun quarry so that Vulcan will be positioned to serve expected growth in markets along the Gulf Coast.”
Vulcan Materials Company, a member of the S&P 500 index, is the nation’s foremost producer of construction aggregates and a major producer of other construction materials.
For additional information about Vulcan Materials Company, see www.vulcanmaterials.com.
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