Eagle Materials Announces Plans to Modernize and Expand Its Cement Plant in Laramie, Wyoming
17 5월 2024 - 9:00PM
Business Wire
$430 million growth investment will increase
plant capacity by 50%; expected to result in cost savings of 25%
and reduce CO2 intensity by nearly 20%
Eagle Materials Inc. (NYSE: EXP) today announced plans to
modernize and expand its Laramie, Wyoming cement plant and related
distribution facilities, which provide cement to several markets,
including the growing northern Colorado area, Nebraska, Utah and
Wyoming.
The modernized plant and an additional cement distribution
facility in northern Colorado will incorporate state-of-the-art
technology maximizing operating efficiencies which will further
strengthen Eagle’s low-cost producer position. The expansion will
increase the plant’s annual manufacturing capacity by 50% to
approximately 1.2 million tons of cement and is expected to reduce
manufacturing costs by approximately 25%. Expected cost reductions
from the modern kiln line will be generated by replacing the use of
solid fuels with lower cost alternative fuels and natural gas,
simplified maintenance programs, and improved operating
efficiencies. Additionally, the CO2 intensity from the Laramie,
Wyoming facility is expected to decline by nearly 20% once the
project is complete. The project investment, which includes an
additional distribution facility in northern Colorado, is estimated
to be approximately $430 million. The existing plant, which became
operational in 1927, has an annual capacity of 800,000 tons of
cement. Planning for the project has been completed, primary
regulatory approvals have been received and construction is
expected to begin immediately with startup scheduled for the second
half of calendar year 2026.
With this expansion, Eagle re-emphasizes its commitment to be
the cement supplier of choice in the Mountain Region, including the
key cities of Denver and Salt Lake City, meeting the expected
increase in demand for cement more broadly and to reduce the
intensity of carbon emissions from its facilities.
About Eagle Materials Inc.
Eagle Materials Inc. is a leading U.S. manufacturer of heavy
construction products and light building materials. Eagle’s primary
products, Portland Cement and Gypsum Wallboard, are essential for
building, expanding and repairing roads and highways and for
building and renovating residential, commercial and industrial
structures across America. Eagle manufactures and sells its
products through a network of more than 70 facilities spanning 21
states and is headquartered in Dallas, Texas. Visit
eaglematerials.com for more information.
Forward-Looking Statements. This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, Section 21E of the Securities Exchange Act
of 1934 and the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the context of the
statements and generally arise when the Company is discussing its
beliefs, estimates or expectations as to future events. These
statements are not historical facts or guarantees of future
performance but instead represent only the Company’s belief at the
time the statements were made regarding future events which are
subject to certain risks, uncertainties and other factors, many of
which are outside the Company’s control. Actual results and
outcomes may differ materially from what is expressed or forecast
in such forward-looking statements. The principal risks and
uncertainties that may affect the Company’s actual performance
include the following: the cyclical and seasonal nature of the
Company’s businesses; fluctuations in public infrastructure
expenditures; adverse weather conditions; the fact that our
products are commodities and that prices for our products are
subject to material fluctuation due to market conditions and other
factors beyond our control; the availability and fluctuations in
the cost of raw materials; changes in the costs of energy,
including, without limitation, natural gas, coal and oil (including
diesel), and the nature of our obligations to counterparties under
energy supply contracts, such as those related to market conditions
(for example, spot market prices), governmental orders and other
matters; changes in the cost and availability of transportation;
unexpected operational difficulties, including unexpected
maintenance costs, equipment downtime and interruption of
production; material nonpayment or non-performance by any of our
key customers; consolidation of our customers; inability to timely
execute announced capacity expansions; difficulties and delays in
the development of new business lines; governmental regulation and
changes in governmental and public policy (including, without
limitation, climate change and other environmental regulation);
possible outcomes of pending or future litigation or arbitration
proceedings; changes in economic conditions or the nature or level
of activity in any one or more of the markets or industries in
which the Company or its customers are engaged; severe weather
conditions (such as winter storms, tornados and hurricanes) and
their effects on our facilities, operations and contractual
arrangements with third parties; competition; cyber-attacks or data
security breaches; increases in capacity in the gypsum wallboard
and cement industries; changes in the demand for residential
housing construction or commercial construction or construction
projects undertaken by state or local governments; the availability
of acquisitions or other growth opportunities that meet our
financial return standards and fit our strategic focus; risks
related to pursuit of acquisitions, joint ventures and other
transactions or the execution or implementation of such
transactions, including the integration of operations acquired by
the Company; general economic conditions, including inflation and
recessionary conditions; and changes in interest rates and the
resulting effects on the Company and demand for our products. For
example, increases in interest rates, decreases in demand for
construction materials or increases in the cost of energy
(including, without limitation, natural gas, coal and oil) or the
cost of our raw materials can be expected to adversely affect the
revenue and operating earnings of our operations. In addition,
changes in national or regional economic conditions and levels of
infrastructure and construction spending could also adversely
affect the Company’s result of operations. Finally, any
forward-looking statements made by the Company are subject to the
risks and impacts associated with natural disasters, the outbreak,
escalation or resurgence of health emergencies, pandemics or other
unforeseen events, including, without limitation, the COVID-19
pandemic and responses thereto designed to contain its spread and
mitigate its public health effects, as well as their impact on our
operations and on economic conditions, capital and financial
markets. These and other factors are described in the Company’s
Annual Report on Form 10-K for the fiscal year ended March 31, 2023
and subsequent quarterly and annual reports upon filing. These
reports are filed with the Securities and Exchange Commission. All
forward-looking statements made herein are made as of the date
hereof, and the risk that actual results will differ materially
from expectations expressed herein will increase with the passage
of time. The Company undertakes no duty to update any
forward-looking statement to reflect future events or changes in
the Company’s expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20240517172809/en/
For additional information, contact at
214-432-2000. Michael R. Haack President and Chief
Executive Officer D. Craig Kesler Executive Vice President
and Chief Financial Officer Alex Haddock Vice President,
Investor Relations, Strategy and Corporate Development
Eagle Materials (NYSE:EXP)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Eagle Materials (NYSE:EXP)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024