US Concrete (USCR) Announces Acquisition of Kings Ready Mix
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U.S. Concrete, Inc. (Nasdaq: USCR) announced that it has acquired the assets of Kings Ready Mix ("Kings"), a ready-mixed concrete producer headquartered in Brooklyn, N.Y. Kings has served the New York metropolitan area for more than 20 years and currently operates four ready-mixed concrete plants and a fleet of 62 mixer trucks. Kings serves a full range of project types and maintains a leading position in the growing market recovery segment which covers primarily the non-union, low- and mid-rise building construction market in Brooklyn, Queens and Manhattan.
"We remain committed to purchasing and integrating well-located ready-mixed concrete producers with great underlying businesses and reputations in new and existing markets," said U.S. Concrete President and CEO, William J. Sandbrook. "This acquisition further demonstrates our ability to do that. The combination of Kings and U.S. Concrete should allow for additional project diversity on an expanded customer base while delivering concrete more efficiently through enhanced logistics, streamlined operations and other cost-saving efforts. We are thrilled to have the Kings team on board."
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