EULESS, Texas, Oct. 2, 2017 /PRNewswire/ -- U.S. Concrete, Inc. (NASDAQ: USCR) ("U.S. Concrete" or the "Company") announced today that its wholly owned subsidiary, NorCal Materials, Inc., has acquired the assets of two independently owned and operated ready-mixed concrete operations, Harbor Ready-Mix ("Harbor") and A-1 Materials, Inc. ("A-1"). The acquisitions include two ready-mixed concrete batch plants and 23 mixer trucks. The acquisitions also include the assets of L.C. Frey Co., Inc., a landscape materials business related to A-1's operations.
Both ready-mixed concrete operations serve the commercial and residential sectors in the Peninsula and South Bay areas of San Francisco. These favorably located plants give U.S. Concrete increased capacity to serve an expanded customer base in the Northern California market.
"These acquisitions are indicative of our team's ability to find and integrate high-quality businesses in attractive markets," said U.S. Concrete President, CEO and Vice Chairman, William J. Sandbrook. "Expanding our market presence and diversifying our customer base in this vibrant and growing market is very exciting. Pent up demand from recent weather delays and a significantly undersupplied residential housing market will allow us to gain immediate traction for long-term success. I am pleased to welcome Harbor and A-1 to the U.S. Concrete family of companies."
About U.S. Concrete, Inc.
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 162 standard ready-mixed concrete plants, 17 volumetric ready-mixed concrete facilities, and 17 producing aggregates facilities. During 2016, U.S. Concrete sold approximately 8.1 million cubic yards of ready-mixed concrete and approximately 5.6 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 beliefs, 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 statements and cautions you not to rely unduly on them. Forward-looking information includes, but is not limited to, statements regarding: the expansion of the business; the opportunities and results of our acquisitions; the prospects for growth in new and existing markets; encouraging nature of volume and pricing increases; the business levels of our existing markets; ready-mixed concrete backlog; ability to maintain our cost structure and monitor fixed costs; ability to maximize liquidity, manage variable costs, control capital spending and monitor
working capital usage; and the adequacy of current liquidity. Although U.S. Concrete 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 statements are subject to certain risks, uncertainties and assumptions, including, among other matters: general and regional economic conditions; the level of activity in the construction industry; the ability of U.S. Concrete to complete acquisitions and to effectively integrate the operations of acquired companies; development of adequate management infrastructure; departure of key personnel; access to labor; union disruption; competitive factors; government regulations; exposure to environmental and other
liabilities; the cyclical and seasonal nature of U.S. Concrete's business; adverse weather conditions; the availability and pricing of raw materials; the availability of refinancing alternatives; results of litigation; and general risks related to the industry and markets in which U.S. Concrete operates. 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, 2016.
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SOURCE U.S. Concrete, Inc.