U.S. Concrete Completes Purchase Of Bay Area Cementitious Terminal
On April 21, 2021, U.S. Concrete (NASDAQ: USCR) announced the acquisition of a cementitious terminal and bulk storage facility in Stockton, California. This strategic purchase aims to enhance supply chain control and improve margins in the Bay Area. CEO Ronnie Pruitt highlighted that the acquisition supports short-term benefits for the West Region and long-term shareholder value by increasing sourcing options. U.S. Concrete continues to establish its presence in high-growth metropolitan markets and focuses on achieving its strategic growth initiatives.
- Acquisition of a cementitious terminal enhances supply chain control.
- Expected to improve margins and provide long-term shareholder value.
- Strengthens sourcing options in the Bay Area.
- None.
EULESS, Texas, April 21, 2021 /PRNewswire/ -- U.S. Concrete, Inc. (NASDAQ: USCR), a leading supplier of aggregates and ready-mixed concrete in active construction markets across the country, announced today that it has acquired an operational cementitious terminal, bulk storage facility, and approximately eight and a half acres of land with access to the Port of Stockton, California.
"I am pleased to announce this strategic acquisition which provides better control of our supply chain and cementitious supply in the Bay Area," said Ronnie Pruitt, U.S. Concrete President and Chief Executive Officer. "We expect that this acquisition will benefit our West Region in the short-term and provide long-term shareholder value. With the supply of our Orca aggregates through our existing Polaris terminal operations and now the addition of cementitious materials with this acquisition, we are building sourcing options into this market which will improve margins over the long-term while successfully fulfilling our strategic growth initiatives."
About U.S. Concrete
U.S. Concrete, Inc. (NASDAQ: USCR) is a leading supplier of aggregates and concrete for infrastructure, residential and commercial projects across the country. The Company holds leading market positions in the high-growth metropolitan markets of Dallas/Fort Worth, San Francisco, New York City, Philadelphia, and Washington, D.C., and its materials have been used in some of the most complex and highly specialized construction projects of the last decade. U.S. Concrete has continued to grow organically and through a series of strategic acquisitions of independent producers in its target markets.
For more information on U.S. Concrete, visit www.us-concrete.com.
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Source: USCR-G
Company Contact Information:
U.S. Concrete, Inc. Investor Relations
844-828-4774
IR@us-concrete.com
Media Contact:
Media@us-concrete.com
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SOURCE U.S. Concrete, Inc.
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