GLG News by Cement Industry Experts in GLG Member Programs

Kirk CoynePresident and Chief Executive OfficerKSC Ventures Inc

Cemex-Rinker--What's Next?

April 9, 2007

Analysis of:Cemex's Rinker Bid Gets U.S. Approval:Offer May Rise | www.bloomberg.com

Now that the Cemex-Rinker deal has received U. S. regulatory approval, it appears that the path is clear for bringing finality to the acquisition of Rinker. But the question remians by whom and for how much?

Russell KennedyFormer President and Chief Executive OfficerENAP, INC.

OSB Market Trends

April 3, 2007

Analysis of:OSB - Southern Capacity Glut | www.marketwire.com

OSB producers are investing in an off cycle time frame which will put increased pressure on pricing.

US Housing market trends are not supporting OSB producers investments and the outlook looks like it will continue for another 15 - 18 months before any shift will occur.

OSB value added products are niche products and will not support relief for the industry.

Kirk CoynePresident and Chief Executive OfficerKSC Ventures Inc

The Changing Complexion of the Construction Materials scene in Florida (and beyond)

March 28, 2007

Analysis of:American Cement gets heavy-hitter Oldcastle as partner | cementamericas.com

 

Why are the construction materials giants focusing so much attention on Florida?

Acquisitions, greenfield cement plants and capacity expansions are being announced with surprising frequency over the past year in Florida (Cemex/Rinker, Vulcan/Florida Rock, Oldcastle/American, Hanson./Civil & Marine).

With so much investment activity among the construction materials players in Florida in the last year, one has to wonder what is next.

Kirk CoynePresident and Chief Executive OfficerKSC Ventures Inc

Slower Growth Ahead for Construction Materials

March 19, 2007

Analysis of:Forecast 2007 (Cement) | cementamericas.com

The slowdown that began in cement and related construction materials in mid 2006 will extend into 2007 and perhaps beyond, led mainly by the housing slowdown.

There are marked regional disparities in the impact of the slowdown, with northern and coastal markets generally weakest and southern and certain western markets fairing better.

Cement supply will be more abundant in the next two years than in the past three, as a result of significant amounts of imports and domestic capacity additions.

Will the construction slowdown be a short-term blip or a more pronounced slide? This question, coupled with the impact on pricing, are keys to the impact on construction materials companies over the next couple of years.

Kirk CoynePresident and Chief Executive OfficerKSC Ventures Inc

The Slump in Housing Reflected in Cement Demand Decline

February 27, 2007

Analysis of:Housing Drop Contributes to Lower Forecast for Cement | www.cement.org

If one wasn’t sure how the decline in housing is impacting the construction materials sector, take a look at the trend in cement consumption. There was a notable negative shift that occurred in mid 2006 (earlier in some markets like Northern California), which is likely to continue through 2007. The tide has clearly turned and it may take some time for the current decline in construction to bottom out.

Kirk CoynePresident and Chief Executive OfficerKSC Ventures Inc

Cement Data Confirms Construction Slowdown

February 26, 2007

Analysis of:Two Hands Needed to Talk About Construction Spending in November, AGC Economist Says | www.agc.org

If one wasn’t sure how the decline in housing is impacting the construction materials sector, take a look at the trend in cement consumption. There was a notable negative shift that occurred in mid 2006 (earlier in some markets like Northern California), which is likely to continue throughout 2007. The tide has clearly turned and it may take some time for the current decline in construction to bottom out.

Kirk CoynePresident and Chief Executive OfficerKSC Ventures Inc

The rage with aggregates in Florida

February 21, 2007

Analysis of:Vulcan Materials to Buy Florida Rock for $4.6 Billion | www.bloomberg.com

 The recent announcement that Vulcan Materials has agreed to buy Florida Rock Industries marks the second mega construction materials deal announced in the last six months. In October 2006, Cemex launched a hostile takeover attempt of Rinker Materials valued at $12.8 Billion and on February 19, 2007, Vulcan entered into an agreement to buy Florida Rock Industries for $4.6 Billion. What do both of these transactions have in common? The target company in both cases has a strong presence in aggregates in the state of Florida. These deals reflect big bets on both the future of Florida and the pricing power of construction aggregates. This latest transaction also further demonstrates the continuing consolidation trend of the national (and global) construction materials industry, particularly aggregates and cement.

Kirk CoynePresident and Chief Executive OfficerKSC Ventures Inc

What direction is construction spending headed?

January 16, 2007

Analysis of:Two Hands Needed to Talk About Construction Spending in November, AGC Economist Says | www.agc.org

The latest data on construction spending for November confirms the contrasting stories between residential and non-residential construction. The theme of the November report is likely to be reflected throughout 2007-weak single family housing and stronger multifamily and non-residental construction.

Kirk CoynePresident and Chief Executive OfficerKSC Ventures Inc

Cement Industry : A Global Story

January 16, 2007

Analysis of:World cement consumtion growth expected to continue | cementamericas.com

Worldwide demand growth for cement is, not surprisingly being led by developing countries (Asia, Middle East, South America and Eastern Europe). The cement industry has become increasingly global and the big players are international and pursuing growth around the globe. The market effects of this globalization might be more local than one would think.

Kirk CoynePresident and Chief Executive OfficerKSC Ventures Inc

All is not bleak for the building industry

January 16, 2007

Analysis of:A Look Ahead for Real Estate | online.wsj.com

While the decline in housing is making all of the headlines, it does not appear that the building and construction industry as a whole is falling through the floor. It is a fact that homebuilding is contracting, but other sectors are picking up some of the slack, namely office, retail and industrial.

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