SOURCE: U.S. Concrete, Inc.

U.S. Concrete, Inc.

February 29, 2016 06:00 ET

U.S. Concrete Continues Expansion in New York Metropolitan Area

Addition Further Solidifies Geographic Coverage of New York City Market

EULESS, TX--(Marketwired - February 29, 2016) - U.S. Concrete, Inc. (NASDAQ: USCR) announced today that it has acquired the assets of Greco Brothers Concrete of L.I., Inc ("Greco"), a ready-mixed concrete producer located in Brooklyn, N.Y. Greco currently operates two ready-mixed concrete plants and a fleet of 37 mixer trucks. The assets of Greco will be integrated into U.S. Concrete's existing New York operation, Ferrara Bros., LLC ("Ferrara Bros.").

Greco has an established and respected market presence in the New York metropolitan area with approximately 60 years of experience serving commercial and residential high-rise projects in Manhattan, Brooklyn, Staten Island and Queens, N.Y. 

"This acquisition further demonstrates our commitment to be a leading producer of ready-mixed concrete in the New York metro area," said U.S. Concrete President and CEO, William J. Sandbrook. "We believe the New York City market is poised for strong demand growth in ready-mixed concrete with its perpetually growing population, economic development, and redevelopment activity. Additionally, the combination of Greco with Ferrara Bros. will offer significant opportunities to service our expanded customer base, optimize service efficiencies and enhance raw material purchasing savings. We are thrilled to welcome Greco 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 146 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

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