U.S. Concrete Adds to Its Texas Redi-Mix Operations
EULESS, Texas, July 29, 2013 (GLOBE NEWSWIRE) -- U.S. Concrete, Inc.
(Nasdaq:USCR) announced today that its wholly owned subsidiary, Redi-Mix, LLC,
completed the acquisition of certain assets of the ready-mixed operations of
Bodin Concrete, L.P. headquartered in Rowlett, Texas.
The acquisition includes three ready-mixed concrete plants located in Wylie,
Rockwall and Forney, Texas that will add to and reinforce the company's
existing Redi-Mix operations in the Dallas/Fort Worth Metroplex, complementing
the eastern Dallas market.
U.S. Concrete President and Chief Executive Officer, William J. Sandbrook,
said, "With the continued residential market recovery and the anticipated
commercial and infrastructure growth, we have long desired a presence in the
eastern corridor. We are extremely pleased to welcome these new operations to
the Redi-Mix group and expect them to be important additions to our ability to
service the expanding Dallas market."
Located in Euless, TX, Redi-Mix, LLC is an integral member of the U.S.
Concrete group of companies and has been a leading ready-mixed concrete
supplier in the Dallas/Fort Worth Metroplex and North Texas markets over the
past 30 years.
About U.S. Concrete
U.S. Concrete, Inc. (Nasdaq:USCR) services the construction industry in
several markets in the United States through its two business segments:
ready-mixed concrete and aggregate products. The Company has 104 fixed and 11
portable ready-mixed concrete plants and seven producing aggregates
facilities. During 2012, these plant facilities produced approximately 4.8
million cubic yards of ready-mixed concrete and 3.3 million tons of
aggregates. The company has supplied concrete for high profile, green building
projects such as the San Francisco Public Utilities Headquarters, San
Francisco Academy of Sciences, and One World Trade Center. 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 statements and cautions you not to rely unduly on them. Forward-looking
information includes, but is not limited to, statements regarding: the
stability of the business; encouraging nature of third quarter volume and
pricing increases; ready-mix backlog; ability to maintain our cost structure
and the improvements achieved during our restructuring 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; 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, 2012 and subsequent Form 10-Q filings.
CONTACT: Matt Brown, SVP & CFO
U.S. Concrete, Inc.
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