In a sign that new home construction activity in the Triangle could finally be picking up, the number of single-family building permits issued in Wake County increased 26 percent in the first quarter.

There were 967 permits issued in the first three months of the year in Wake, up from 768 during the same period in 2011, according to data compiled by the Home Builders Association of Raleigh-Wake County.

Holly Springs and Garner posted the largest percentage increases.

Holly Springs issued 98 percents compared to 56 during the first quarter of 2011, a 75 percent increase. Garner's permit activity jumped 480 percent, from 5 to 29.

Permit activity declined 16 percent in Cary and was up 45 percent in Raleigh. Apex was also a big gainer with a 42 percent increase.

As the number of both new and existing homes has continued to drop in the Triangle, real estate professionals have been waiting for it to correspond to an uptick in new home construction.

There were just 1,603 new homes on the market in March in Wake, Durham, Orange and Johnston counties, Triangle Multiple Listing Services data show. That was down 27 percent from the same period a year ago and off 40 percent from two years ago.

New home construction has historically been a major source of employment in the Triangle, and the lack of activity has made it harder to bring down the unemployment rate.

Martin Marietta Materials posted a wider first quarter loss than Wall Street analysts expected Tuesday but the Raleigh company raised its guidance for the rest of the year after sales increased 21 percent.

Company officials also said they would proceed with plans to nominate four directors to rival Vulcan Materials Board of Directors on June 1. Martin Marietta said it spent $25.9 million in the quarter on its efforts to merge with Vulcan.

Martin Marietta initiated its $4.7 billion takeover of its larger rival in December, and the companies have been trading lawsuits and public barbs ever since.

Excluding business development expenses and acquisition expenses, Martin Marietta reported a loss of 30 cents per diluted share in the quarter, compared to a loss of 39 cents during the same period a year ago.

Net sales, however, increased 20.6 percent to $350.5 million and Martin Marietta shipped 9.6 percent more materials than it did during the first quarter of 2011.

The company, which provides the materials used to build roads, subdivisions and commercial buildings, is considered a bellwether for the construction industry.

Caterpillar announced today that it plans to invest $33 million in its manufacturing facilities in Johnston County and create 199 jobs over the next five years.

The project will expand the operations that are now home to Caterpillar's Building Construction Products Division. The expansion will make the Clayton facility the world source for several models of small wheel loaders produced by Caterpillar. 

Engineering and design work for BCP products will also take place at a new engineering and test facility near the Clayton manufacturing facility.  
 

The Fred Smith Company has paid $2.35 million for a 10-acre industrial site on Chapel Hill Road in West Raleigh.

Fred Smith Co. was already the largest tenant on the property, which includes 15,000 square feet of office space.

The site was long the home of graving and paving company C.C. Mangum, which Fred Smith Co. acquired in early 2010.

Jim Anthony of Colliers International brokered the transaction.

Fred Smith Jr., a former state senator and gubernatorial candidate, had been CCM's chief executive for a number of years before he bought the business. 

The 6105 Chapel Hill Road site is near its intersection with Edwards Mill Road.

Raleigh-based Martin Marietta Materials announced today that it has proposed merging with one of its chief competitors, Vulcan Materials, to create one of the largest providers of construction materials in the world.

The hostile takeover would give Vulcan shareholders a 58 percent ownership stake in the combined company.

The proposal has the unanimous support of Martin Marietta's Board of Directors.

Under the terms of the deal, each outstanding share of Vulcan will be exchanged for 0.50 Martin Marietta shares.

The bid values Vulcan at $36.685 a share based on Martin Marietta's stock price of $73.37 at the close of trading on Friday.

Martin Marietta and Vulcan officials began discussing a possible merger more than a year ago, and Martin Marietta CEO Ward Nye said today that the decision to take the deal directly to Vulcan's shareholders came after Vulcan officials halted discussions.

“We are bringing our proposal directly to Vulcan’s shareholders after Vulcan ceased participating in private discussions toward a negotiated transaction, which commenced over a year and a half ago,” Nye said.

Wake Forest's Town Hall has earned LEED Platinum status from the U.S. Green Building Council, the agency's highest ranking in environmentally friendly construction.

The town hall is one of only a few municipal buildings in the U.S. to receive the LEED designation, according to a news release today from the town of Wake Forest.

Energy efficiencies should result in a nearly 25 percent reduction in overall annual energy costs, according to the Wake Forest news release. Officials also expect 70 percent of the building's energy load to be offset using green methods such as solar and wind power.

Despite a slowdown in infrastructure spending and rising fuel costs, Martin Marietta Materials reported solid third-quarter earnings Tuesday.

The company, which produces rock, gravel and other materials used to build roads, subdivisions and commercial buildings, had sales of $464 million for the quarter that ended Sept. 30, up 4.6 percent from the same period in 2010.

Excluding one-time charges, the company reported earnings per share of $1.11. That was above the $1.09 a share that was the consensus among analysts who follow the company.

Martin Marietta now expects to ship anywhere from 2 to 4 percent fewer materials in 2011 than it did a year ago. The company’s fuel costs for the quarter rose 16 percent.

Raleigh-based Martin Marietta Materials has agreed to swap assets Lafarge North America.

The company announced Wednesday that it will receive Lafarge's quarry sites, concrete and asphalt plants and road paving business in Denver in exchange for cash and Martin Marietta's quarries and distribution yards along the Mississippi River.

The deal is expected to close within 60 days.

Martin Marietta produces rock, gravel and other materials used to build roads, subdivisions and commercial buildings.

Its business is closely tied to residential, commercial and government construction projects.

Martin Marietta's stock is has dropped about 20 percent over the past six months. The industry been hurt by uncertainty over future government spending levels and the prospects for approval of a long-term highway bill by Congress.

Ply Gem Holdings, a Cary company that filed plans to go public last year, reported lower sales in the second quarter as demand for the company's building products continued to be hurt by softness in the housing market.

The company's second-quarter sales totaled 294.5, 2.4 percent lower than the same period a year ago; quarterly earnings were $28.5 million, down from $30.3 million from a year ago.

Ply Gem sells vinyl siding and other products for home exteriors. The company's financial performance is closely tied to housing starts, which have remained at low levels since the homebuyer tax credits expired last year.

"Given that market conditions for 2011 are expected to remain challenging, Ply Gem will continue to focus on maintaining a lean overall cost structure while maximizing cash flow and striving to outperform the marketplace in all business units, which will ensure that Ply Gem emerges stronger as the housing market recovers," said Gary Robinette, the company's CEO, in a release.
 

A construction equipment manufacturer in Wilmington will be shutting down operations and laying off 92 people this year.

Terex Corp., based in Connecticut, notified the N.C. Department of Commerce to say it will close its Wilmington facility by Dec. 31.

The workers affected are in production and sales, with the first round of layoffs to happen Oct. 7.

In Wilmington, Terex did final manufacturing and assembly of cranes for sale and distribution in North America. Terex employs 18,000 worldwide makes cranes and other heavy equipment for construction, mining, energy and other heavy industries.

"While the economy is beginning to improve, our manufacturing capacity is greater than needed to meet foreseeable market demand," the company's letter said.