Calgary’s BURNCO, an aggregate construction materials company with Canadian and U.S. operations, is purchasing the Hammerstone Quarry located north of Fort McMurray from Brookfield Business Partners, a New York-based private equity firm.
The transaction will complement BURNCO’s existing business in Alberta with a major limestone production business and vast leasehold interests throughout the oil sands region.
It also brings a sizeable operation back into Albertan hands.
“As fourth generation owners of BURNCO, our family is thrilled to be investing again in Canada,” said Scott Burns, the company’s Executive Chairman.
With Canada’s focus on pushing towards net-zero carbon concrete there is an ever-increasing amount of innovation in the construction materials sector. Concrete is the most commonly used building material globally and accounts for 1.5% of Canada’s CO2 emissions.
BURNCO has been working to advance sustainable business activity and drive innovation in its construction practices. The company recently announced a low-carbon concrete initiative with Calgary’s Carbon Upcycling, a leader in circular decarbonization solutions for various building industries.
The resulting CO2-enhanced concrete will find its way into sidewalks, housing foundations, pathways, and gutters. Additional such projects are expected in future, especially as Hammerstone shares similar values in this area with their products already playing a role in helping reduce greenhouse gas emissions.
The Hammerstone Quarry is one of the largest limestone quarries in Western Canada with over 750 million tonnes of aggregate reserves, representing multiple generations of supply. The quarry’s output of limestone aggregates is essential to the energy-producing customers operating in the region for roads, highways, infrastructure pads, and well pads.
“Hammerstone’s business is a natural fit within our broader aggregates position in Alberta and expands our geographic and operational footprint in the province,” said Tom Zais, BURNCO’s CEO.
“Hammerstone’s employees are focused on safety, environmental stewardship, and community engagement, all of which are consistent with BURNCO’s commitment to people, customers, and communities,” Zais added.
Nick Laganiere, Hammerstone’s CEO, noted, “Our people are extremely pleased to be joining BURNCO. It’s a great outcome as BURNCO knows our business and understands what we have built in the Fort McMurray area over the past 15 years.”
Closing of the transaction is subject to sign-offs under the Competition Act and other customary conditions before an approval which can be expected in the next 30 days.
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