VULCAN MATERIALS COMPANY (HOLD BTC Capital Management Inc holding in Q2 2015 Form 13-F

Vulcan Materials Company is primarily engaged in the production and distribution of construction aggregates, including crushed stone, sand, and gravel. In addition to aggregates, Vulcan produces asphalt mix and ready-mixed concrete, which are downstream products that rely heavily on aggregates. These materials are essential for various construction projects, such as highways, bridges, and buildings, serving both public and private sector needs.

Vulcan operates in the construction materials industry, with a significant presence in the U.S. market. The company runs 423 active aggregates facilities, 70 asphalt facilities, and 74 concrete facilities across multiple states, with a strong market presence in California, Texas, Georgia, and Florida. Vulcan generates revenue primarily through the sale of its construction materials, with a substantial portion of its income coming from public sector construction projects funded by federal, state, and local governments. The Infrastructure Investment and Jobs Act (IIJA) and state funding measures are key factors that influence Vulcan's business performance.

Vulcan's primary customers include contractors and construction firms involved in infrastructure and building projects. The company's operational structure includes vertical integration, where it supplies aggregates to its asphalt and concrete segments. Vulcan's business performance is directly impacted by construction activity levels, which are tied to factors like population growth and employment rates. The company's strategy focuses on leveraging its extensive 16.5 billion tons of aggregates reserves and optimizing operational efficiencies through economies of scale and logistics innovation.