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Granite Purchases Quarry and Barge Loading Facility on Vancouver Island

BusinessWire_EN 
0 0 03.05.23
Granite Purchases Quarry and Barge Loading Facility on Vancouver Island: https://mms.businesswire.com/media/20191118005918/en/662198/5/Granite-Logo-Color.jpg
 

Granite (NYSE:GVA) announced today that it has completed the acquisition of Coast Mountain Resources (2020) Ltd., a construction aggregate producer based in British Columbia, Canada on Malahat First Nation land. Coast Mountain Resources operates the Bamberton Quarry on Vancouver Island, which is strategically located on the deep water of the Saanich Inlet. Granite has been a customer of the quarry due to its high-quality aggregate and strategic proximity to our home markets.

“We’re excited to work with the Malahat First Nation to accomplish a shared goal of managing a safe and environmentally responsible operation,” said Vice President of Construction Materials Brad Estes. “We look forward to working with the Malahat Nation to ensure that our business is an integral part of their community for decades to come.”

“Supporting and strengthening our vertically integrated home markets, which we have done through the acquisition of CMR and the previously announced acquisition of Brunswick Canyon in Nevada, is at the core of our strategic plan,” explained President and CEO Kyle Larkin. “We’re happy to have CMR in our portfolio and we will continue to be opportunistic in future investments to support the growth of our home markets.”

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 civil construction provider. 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 the Granite website, graniteconstruction.com, and connect with Granite on LinkedIn, Twitter, Facebook, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230424005749/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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