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Granite Opens New Solari Aggregate Plant Near Bakersfield


Granite (NYSE:GVA) recently opened their Solari Aggregate Plant in Arvin, California. Solari will safely and sustainably provide aggregate and asphalt to private and public customers in the Bakersfield market.

The Solari facility replaces a depleted Granite facility near Arvin. The new 700-acre plant produces 70 million tons of additional high-quality reserves available to the Bakersfield market. Designed with efficiency and sustainability in mind, automated plant controls maximize the plant feed rate and crusher production. A new wash plant produces concrete aggregates while minimizing the demand for fresh water with its engineered three-stage water management system. Both variable frequency drives and plant automation, which staggers large motor startups, reduce the facility power demand.

“The new facility is Granite’s 77th materials facility,” said Vice President of Construction Materials Brad Estes. “We’re excited to open another top-notch facility supporting Granite’s vertically integrated business in the Bakersfield market.”

Exploration of the Solari Aggregate deposit began in 2006, permitting began in 2008, and facility construction began in September of 2019. Aggregate production began in December 2020 and asphalt production will begin during the second quarter of 2021.

Granite’s construction materials business stretches across the western United States and specializes in aggregate plants, asphalt plants, and recycling operations which supply external customers and support Granite’s vertically integrated business.

About Granite

Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite provider in the transportation, water infrastructure, and mineral exploration markets. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit graniteconstruction.com, and connect with Granite on LinkedIn, Twitter, Facebook, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210104005020/en/

Granite Construction Stock

€63.50
0.810%
Granite Construction gained 0.810% compared to yesterday.
Based on 2 Buy predictions and 1 Sell predictions the sentiment towards Granite Construction is rather balanced.
However, we have a potential of -8.66% for Granite Construction as the target price of 58 € is below the current price of 63.5 €.
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