Summit Materials, Inc. (NYSE: SUM) ("Summit," "Summit Materials," "Summit Inc." or the "Company"), a leading construction materials solutions provider, in partnership with its subsidiary, Continental Cement Company, LLC ("Continental Cement," "CCC"), announced the official opening of the Davenport Cement Storage Dome, the largest cement storage dome in North America, with storage capacity of 125,000t of cement. The dome substantially reduces the need for winter storage barges and provides a safer, more efficient operation, reducing barge storage costs and helping Summit more effectively serve its valued customers.

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Summit Materials Opens North America's Largest Cement Storage Dome (Photo: Business Wire)

Construction of the dome, which required approximately 18 months to complete, is a shining example of Summit's commitment to be the most socially responsible, integrated construction materials solution provider, collaborating with stakeholders to deliver differentiated innovations and solve customers' challenges.

The project was completed on time, on budget, and most importantly, without a safety incident. Summit and Continental Cement's investment into this project reaffirms their long-term commitment to the Great State of Iowa, the Quad Cities, the City of Buffalo, and the 119 employees at Summit's Davenport plant.

"We are proud to officially open the Davenport Cement Storage Dome and to celebrate this milestone achievement with our valued customers, suppliers, employees, and community stakeholders," said Anne Noonan, CEO of Summit. "This dome helps strengthen our enduring and trusted customer relationships in all markets, particularly in Iowa and Missouri, where we have our major production assets. Our use of lower carbon cement both in the construction of the dome and to be stored within the dome exemplifies Summit and Continental Cement's commitment to sustainability and the path to carbon neutrality."

The Davenport Cement Storage Dome project used PLC in all concrete supplied to this project, and Summit is the first cement producer in the United States to convert all cement production to PLC, a lower carbon product.

"We are particularly proud of our industry leadership position in the replacement of fossil fuels with waste products," said Noonan. "Our existing replacement rate of using alternative fuels rather than coal is amongst the highest in the industry, and to further increase this important part of our carbon reduction commitment, we are investing another $32 Million in expanding our Green America Recycling operation, allowing the cement plant to replace approximately 55% of its fossil fuel consumption with non-hazardous waste."

Summit and Continental Cement thank all the stakeholders, including customers, employees, community stakeholders, elected officials, and suppliers, without whom this event would not be possible. Both remain committed to Iowa, the Davenport plant, its customers, and employees, and look forward to continued collaboration towards shared economic and community objectives.

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