SOURCE: U.S. Concrete, Inc.

U.S. Concrete, Inc.

October 28, 2015 06:00 ET

U.S. Concrete Acquires Two Vertically Integrated Construction Material Operations in the U.S. Virgin Islands

Strategic Expansion Marks Entry Into New Region With Strong Market Position

EULESS, TX--(Marketwired - October 28, 2015) - U.S. Concrete, Inc. (NASDAQ: USCR) announced today that it acquired Heavy Materials, LLC ("Heavy") and the assets of Spartan Concrete Products, LLC ("Spartan"), two strategically integrated businesses located in the U.S. Virgin Islands serving key Caribbean markets with strong demand and consistent performance.

Heavy is a primary producer of ready-mixed concrete and aggregates in the U.S. Virgin Islands through four ready-mixed concrete batch plants, a fleet of 32 mixer trucks, and two quarries with total aggregates reserves of approximately 40 million tons. Heavy also leases an industrial waterfront property that it utilizes as a marine terminal and sales yard. Heavy is a key aggregates supplier to Spartan, a leading local ready-mixed concrete producer, operating one batch plant and a fleet of 16 mixer trucks.

The combined operations of Heavy and Spartan creates a stronger vertically integrated platform to serve an extensive base of customers throughout the U.S. Virgin Islands and several other islands throughout the Caribbean. The end-market exposure of the combined operations is generally balanced across commercial, infrastructure and residential project activity.

"These acquisitions are highly aligned with our strategic goal to establish leadership positions in resilient, attractive markets and further enhance our mix of vertically integrated operations," said William J. Sandbrook, U.S. Concrete President and CEO. "We plan to create a more efficient operating dynamic in the U.S. Virgin Islands and the Caribbean by combining the efforts of these two separately owned businesses into one cohesive unit. Additionally, the combined operations provide a highly strategic platform to capitalize on leading market positions and growing regional demand to serve as the supplier of choice. We are thrilled to welcome Heavy and Spartan to the U.S. Concrete family of companies."

About U.S. Concrete, Inc.

U.S. Concrete, Inc. (the "Company" or "U.S. Concrete") serves the construction industry in several major markets in the United States through its two business segments: ready-mixed concrete and aggregate products. The Company has 144 standard ready-mixed concrete plants, 16 volumetric ready-mixed concrete facilities, and 14 producing aggregates facilities. During 2014, U.S. Concrete sold approximately 5.7 million cubic yards of ready-mixed concrete and approximately 4.7 million tons of aggregates. For more information on U.S. Concrete, visit www.us-concrete.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains various forward-looking statements and information that are based on management's belief, as well as assumptions made by and information currently available to management. These forward-looking statements speak only as of the date of this press release. The Company disclaims any obligation to update these forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except as required by federal securities laws, and cautions you not to rely unduly on them. Forward-looking information includes, but is not limited to, statements concerning plans, objectives, goals, projections, strategies, future events or performance, and underlying assumptions and other statements, which are not statements of historical facts. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms or other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include projections of our future financial performance, our anticipated growth strategies and anticipated trends in our business. These statements are predictions based on our current expectations and projects about future events. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that those expectations will prove to have been correct. Such forward-looking statements, by their nature, are subject to certain risks, uncertainties and assumptions, including, among other matters: general and regional economic conditions, which will, among other things, affect demand for new residential and commercial construction; our ability to successfully identify, manage and integrate acquisitions; the cyclical nature of, and changes in, the real estate and construction markets, including pricing changes of our competitors; governmental requirements and initiatives, including those related to mortgage lending or mortgage financing, funding for public or infrastructure construction, land usage and environmental, health and safety matters; disruptions, uncertainties or volatility in the credit markets that may limit our, our suppliers' and our customers' access to capital; our ability to successfully implement our operating strategy; weather conditions; our substantial indebtedness and the restrictions imposed on us by the terms of our indebtedness; our ability to maintain favorable relationships with third parties who supply us with equipment and essential supplies; our ability to retain key personnel and maintain satisfactory labor relations; and product liability, property damage and other claims and insurance coverage issues. Should one or more of these risks materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those expected. These risks, as well as others, are discussed in greater detail in U.S. Concrete's filings with the Securities and Exchange Commission, including U.S. Concrete's Annual Report on Form 10-K for the year ended December 31, 2014 and subsequent Quarterly Reports on Form 10-Q.

Source: USCR-G

Contact Information

  • Company Contact Information:
    U.S. Concrete, Inc.
    Investor Relations
    844-828-4774
    IR@us-concrete.com