Vulcan Materials Mexican subsidiary gets unexpected shutdown orders

Vulcan Materials CO

On May 5, 2022, Mexican officials ordered immediate halt to underwater quarrying at SAC TUN in Quintana Roo.
Company believes order is illegal, has permits, and will pursue all legal avenues to resume operations.
Vulcan has quarried limestone legally in Mexico for over 30 years and owns the land and reserves.
Ongoing NAFTA arbitration with Mexico since 2018; hearing July 2021, decision expected H2 2022.
Company has export-ready inventory at port and recently obtained a three-year customs permit in March.

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