Vulcan Materials Company, the nation's largest producer of construction aggregates, today announced that it has reached a definitive agreement to acquire Polaris Materials Corporation, an aggregates and logistics company, which serves key California markets from strategically situated operations in British Columbia. The Polaris business includes a high capacity aggregates processing plant and deep water port on Vancouver Island along with associated long term aggregate reserves and five distribution yard outlets in the San Francisco Bay Area and in Long Beach, California.

"We are very pleased to have reached agreement to acquire Polaris Materials, which is expected to further enhance our ability to serve major California markets," said Vulcan's Chairman and Chief Executive Officer Tom Hill. "With this acquisition, we are continuing to build on our industry-leading position in the state of California. Polaris has assembled high quality aggregate reserves that will further expand our product offerings, particularly for certain concrete applications, as well as our geographic coverage in markets in the San Francisco and Los Angeles metro areas. This acquisition will enhance our logistics capabilities with the ship delivery of aggregate products and provide Vulcan with a platform for future distribution outlet opportunities along the Pacific Coast. The acquisition is especially timely given California's recent passage of SB1, which will provide $52 billion for key transportation infrastructure projects over the next ten years, in addition to passage of local ballot measures that add more than $1 billion annually for infrastructure projects in key growth markets that we serve."

The transaction will be subject to approval by Polaris Materials' securityholders, approval by the Supreme Court of British Columbia, and other customary closing conditions. Subject to obtaining the required approvals, the transaction is expected to complete in the fourth quarter of 2017.

Polaris Materials Corporation, headquartered in Vancouver, British Columbia, is a supplier of high quality construction aggregates to major coastal markets in California and British Columbia. The Company has developed an integrated logistical chain of mineral resources, receiving port terminals and cost effective, contracted shipping that allows it to meet the need for replacement aggregate sources in markets where local resources are depleting and marine imported aggregates offer an increasingly viable alternative.