U.S. CONCRETE ADDS TO WEST TEXAS OPERATIONS
HOUSTON, TEXAS – July 8, 2008 – U.S. Concrete, Inc. (NASDAQ: RMIX)
today announced it completed the acquisition of nine ready-mixed
concrete plants, including real property, rolling stock and working
capital, in its west Texas market from another ready-mixed concrete
producer. The plants produced approximately 245,000 cubic yards of
ready-mixed concrete during 2007, and will be integrated with the
Company’s existing Ingram Concrete operations. The Company used
cash-on-hand and its existing line of credit to fund the purchase
price.
Michael W. Harlan, U.S. Concrete’s President and Chief Executive
Officer stated, “This acquisition marks our continued emphasis on
further strengthening our existing concrete operations and expanding
in those markets where we are vertically integrated with aggregates.
Our west Texas operations are performing very well and this
acquisition will not only complement existing Ingram markets, but
also expand our footprint in west Texas. We expect the acquisition
to be moderately accretive to 2008 earnings per share.”
ABOUT U.S. CONCRETE
U.S. Concrete services the construction industry in several major
markets in the United States through its two business segments:
ready-mixed concrete and concrete-related products; and western
precast concrete. The Company has 133 fixed and eight portable
ready-mixed concrete plants, eight pre-cast concrete plants, one
concrete block plant and seven producing aggregates facilities.
Including this recent acquisition, during 2007, these plant
facilities produced approximately 7.5 million cubic yards of
ready-mixed concrete, 2.7 million eight-inch equivalent block units
and 3.8 million tons of aggregates. For more information on U.S.
Concrete, visit www.us-concrete.com.
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