U.S. Concrete Strengthens Aggregates Operations with Strategic Acquisition in Texas
EULESS, Texas: U.S. Concrete, Inc. (NASDAQ: USCR) ("U.S. Concrete" or the "Company"), a leading national supplier of ready-mixed concrete and aggregates, today announced that it has expanded its aggregates business in Texas with the acquisition of Leon River Aggregate Materials, LLC ("Leon River"), a sand and gravel producer based in Proctor, Texas.
Furthermore, U.S. Concrete also announced that it has completed the divestiture of its Dallas/Fort Worth area lime operations to Lhoist North America, which includes two fixed plants, lime tankers and raw material tankers.
"We are excited to strengthen our aggregates operations in West Texas and to use the processing facility to produce high-quality materials that will be used in many of the market's ongoing and planned construction projects," said William J. Sandbrook, Chairman, President and CEO of U.S. Concrete. "The lime divestiture gives us the ability to further our strategic focus of optimizing our portfolio of assets and allocating money directly to growing our aggregates business while concurrently improving our balance sheet by reducing debt."