Granite to Develop New Aggregate Operation in Grantsville, Utah

Rhea-AI Summary

Granite (NYSE:GVA) has announced the acquisition and upcoming development of a new aggregate operation in Grantsville, Utah. The site spans 640 acres and contains approximately 99 million tons of recoverable rock, positioned 30 miles west of Salt Lake City. The facility aims to supply quality materials to Utah, supporting the company's home market strategy. Production is expected to commence in July 2022, and Granite is committed to sustainability through the use of water-saving technologies.

Positive

• Acquisition of a 640-acre site with 99 million tons of recoverable rock.
• Expected production start in July 2022.
• Supports Granite's home market strategy in Utah, a fast-growing state.

Negative

• None.

WATSONVILLE, Calif.--(BUSINESS WIRE)-- Granite (NYSE:GVA) announced today that it has acquired and will start development on a new aggregate operation near Grantsville, Utah. Located approximately 30 miles west of Salt Lake City on Interstate 80, the site covers approximately 640 acres. The material comes from an alluvial deposit containing 99 million tons of recoverable rock.

“We are pleased to be moving forward with the Grantsville facility,” said Brad Estes, vice president of construction materials. “This facility will provide quality materials to Utah for decades and supports Granite’s home market strategy.”

“Utah is one of the fastest-growing states in the country, and the Salt Lake metro area is where a lot of that growth is happening and will continue to happen,” explained Jason Klaumann, vice president of regional operations. “Securing such an extensive reserve of material gives Granite lots of opportunity to capture all the work that will come with that growth.”

Granite is currently designing the plant for the Grantsville facility. In support of Granite’s core value of sustainability, the company is assessing a variety of water-saving and waste-reduction equipment and technology options. The plant will be assembled in the coming months and the facility is expected to begin production in July 2022.

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/20220606005213/en/

Media

Erin Kuhlman 831-768-4111

Investors

Wenjun Xu - 831-761-7861

Source: Granite

FAQ

What is Granite's new project in Utah?

Granite is developing a new aggregate operation in Grantsville, Utah.

How much recoverable rock is at the Grantsville site?

The site contains approximately 99 million tons of recoverable rock.

When will production start at the Grantsville facility?

Production is expected to begin in July 2022.

Why is Granite expanding in Utah?

Granite is expanding to support its home market strategy in a fast-growing area.