Headwaters Incorporated Announces the Acquisition of CalStar Technology
February 23 2016 - 2:14PM
Business Wire
HEADWATERS INCORPORATED (NYSE: HW), a building products
company dedicated to improving lives through innovative
advancements in construction materials, today announced it has
recently acquired the technology to manufacture a wide variety of
concrete products without the use of portland cement. The
technology uses 100% fly ash as the cementitious binder.
The technology was previously owned by CalStar. No operating
assets were acquired in the transaction. The acquisition provides
Headwaters with the exclusive ability to produce a wide variety of
concrete products using Class C fly ash. Headwaters will
incorporate ash procured by Headwaters Construction Materials, the
largest manager and marketer of fly ash in the United States.
Over the past decade, CalStar developed a unique technology to
manufacture concrete products without the presence of portland
cement. Traditionally, concrete block, pavers, and brick are
manufactured using a mix design that includes sand, aggregates,
water, and portland cement as the binder material. The CalStar
technology uses fly ash based binders rather than portland cement
to manufacture a wide range of engineered building products. The
CalStar based products allow architects and specifiers to reduce
the energy and carbon footprints of their buildings, while meeting
product classifications without compromising budgets. The
technology uses proprietary reagents to activate the fly ash
pozzolan into a durable cement. This process produces significant
environmental benefits by incorporating up to 40% post-industrial
content, and reducing the carbon footprint by approximately 80%
versus portland cement based products.
The new products produced with the CalStar technology combine
the benefits of recycled content and lower energy use, while
maintaining traditional beauty and performance. Headwaters intends
to market custom colored smooth, ground face, polished, split faced
and textured masonry block in regular and oversized units to
commercial and institutional projects. For example, the new
American University Law School in Washington DC features CalStar’s
sustainable masonry products as its primary façade. Headwaters
believes its products will be the most sustainable, environmentally
friendly concrete product in the world. Importantly, the unique
value associated with the products should allow Headwaters to take
advantage of a shipping radius of more than 1,500 miles.
“The new CalStar technology, in conjunction with our eighteen at
a time big board machine, should provide us with an opportunity to
expand margins and supply the building community with a unique
masonry product,” said Bob Whisnant, President of Headwaters Block
Group. “We should have our big board machine ready for production
towards the beginning of our summer season.”
About Headwaters Incorporated
Headwaters Incorporated is improving lives through innovative
advancements in construction materials through application, design,
and purpose. Headwaters is a diversified growth company providing
products, technologies and services to the construction materials
and building products markets. Through its coal combustion
products, building products, and energy businesses, the Company has
been able to improve sustainability by transforming underutilized
resources into valuable products. www.headwaters.com
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements relating
to Headwaters’ operations that are based on management’s current
expectations, estimates and projections about the industries in
which Headwaters operates. Words such as “may,” “should,”
“anticipates,” “expects,” “intends,” “plans,” “targets,”
“forecasts,” “projects,” “believes,” “seeks,” “schedules,”
“estimates,” “budgets,” “goals,” “outlook” and similar expressions
are intended to help identify such forward-looking statements.
Forward-looking statements include Headwaters’ expectations as to
the managing and marketing of coal combustion products, the
production and marketing of building products, the sales to oil
refineries of residue hydrocracking catalysts, the development,
commercialization, and financing of new products and other
strategic business opportunities and acquisitions, and other
information about Headwaters which are not purely historical by
nature, including those statements regarding Headwaters’ future
business plans, the operation of facilities, the availability of
feedstocks, and the marketability of the coal combustion products,
building products and catalysts. These statements are not
guarantees of future performance and are subject to certain risks,
uncertainties and other factors, many of which are beyond the
Company’s control and are difficult to predict. Therefore, actual
outcomes and results may differ materially from what is expressed
or forecasted in such forward-looking statements. The reader should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. Unless legally
required, Headwaters undertakes no obligation to update publicly
any forward-looking statements, whether as a result of new
information, future events or otherwise. Among the important
factors that could cause actual results to differ materially from
those in the forward-looking statements are: changing feedstock and
energy prices; actions of competitors or regulators; technological
developments; potential disruption of the Company’s production
facilities, transportation networks and information technology
systems due to war, terrorism, malicious attack, civil accidents,
political events, civil unrest or severe weather; potential
environmental liability or product liability under existing or
future laws and litigation; potential liability resulting from
other pending or future litigation; changed accounting rules under
generally accepted accounting principles promulgated by
rule-setting bodies; and the factors set forth under the heading
“Risk Factors” in the Company’s Annual Report on Form 10-K,
quarterly reports on Form 10-Q and other periodic reports. In
addition, such results could be affected by general domestic and
international economic and political conditions and other
unpredictable or unknown factors not discussed in this press
release which could have material adverse effects on
forward-looking statements.
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AT THE COMPANY:Headwaters IncorporatedSharon MaddenVice
President of Investor Relations(801) 984-9400orANALYST
CONTACT:Financial ProfilesTricia Ross(310) 622-8226
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