Construction Partners, Inc. Announces North Carolina Greenfield
Construction Partners, Inc. (NASDAQ: ROAD) has launched operations at a new hot-mix asphalt plant in Benson, North Carolina, aimed at enhancing its presence in adjacent markets. This strategic expansion targets the growing suburbs of Johnston and Harnett County in the Raleigh-Durham area, contributing to the company's long-term growth objectives. The company emphasizes that such greenfield initiatives are vital for organic growth and shareholder value, while continuing to explore further investment opportunities in the Southeast market.
- New hot-mix asphalt plant in Benson, North Carolina, enhances market presence.
- Targets fast-growing suburbs of Johnston and Harnett County, potentially increasing revenue.
- Aligns with long-term growth strategy to drive organic growth and shareholder value.
- None.
Benson Asphalt Plant to Serve Multiple Market Areas
DOTHAN, Ala., Aug. 22, 2022 /PRNewswire/ -- Construction Partners, Inc. (NASDAQ: ROAD) (the "Company"), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across five southeastern states, today announced that it has commenced operations at a new hot-mix asphalt plant site in Benson, North Carolina.
Fred J. (Jule) Smith, III, the Company's President and Chief Executive Officer, said, "The new Benson plant is a prototypical greenfield for us, whereby we expand into an adjacent market based on project opportunities and market dynamics. From Benson, we expect to be able to serve the fast-growing Johnston and Harnett County suburbs of the Triangle metro area of Raleigh-Durham. Consistent with our continued long-term growth strategy, greenfields such as this one in Benson are a key driver of organic growth and building shareholder value. We will continue to evaluate future investment opportunities that leverage our strong organizational footprint throughout the Southeast."
About Construction Partners, Inc.
Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across five southeastern states. Supported by its hot-mix asphalt plants, aggregate facilities and liquid asphalt terminal, the company focuses on the construction, repair and maintenance of surface infrastructure. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The company also performs private sector projects that include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments. To learn more, visit www.constructionpartners.net.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained herein that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of words such as "seek" "continue," "estimate," "predict," "potential," "targeting," "could," "might," "may," "will," "expect," "should," "anticipate," "intend," "project," "outlook," "believe," "plan" and similar expressions or their negative. The forward-looking statements contained in this press release include, without limitation, statements relating to the benefits of a new business location and the expected results of the new location. These and other forward-looking statements are based on management's current views and assumptions and involve risks and uncertainties that could significantly affect expected results. Important factors that could cause actual results to differ materially from those expressed in the forward-looking statements are set forth in the Company's most recent Annual Report on Form 10-K, its subsequent Quarterly Reports on Form 10-Q, its Current Reports on Form 8-K and other reports the Company files with the SEC. Forward-looking statements speak only as of the date they are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable law.
Contact:
Rick Black
Dennard Lascar Investor Relations
ROAD@DennardLascar.com
(713) 529-6600
View original content:https://www.prnewswire.com/news-releases/construction-partners-inc-announces-north-carolina-greenfield-301609518.html
SOURCE Construction Partners, Inc.
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