EULESS, Texas, March 3, 2014 (GLOBE NEWSWIRE) -- U.S. Concrete, Inc. (Nasdaq:USCR) (the "Company" or "U.S. Concrete") announced today that its wholly owned subsidiary, Redi-Mix Concrete, LLC, has commenced production at its newest mining operation, the Red River Plant located in Thackerville, Oklahoma. This facility complements U.S. Concrete's existing sand and gravel operations, allowing the Company to supply materials to its Dallas–Fort Worth Metroplex concrete operations from the north as well as from its Rainbow and Chatfield plants to the south, while opening up opportunities to supply portions of southern Oklahoma. This timely expansion comes at a time when aggregate materials are in high demand in both Oklahoma and Texas.
"We are very excited to bring the Red River Plant online at such a crucial time in the continually improving construction cycle," said U.S. Concrete President and Chief Executive Officer William J. Sandbrook. "We are committed to enhancing the self-sufficiency of our operations in the high growth North Texas market via vertical integration and look forward to simultaneously servicing the increasing commercial aggregates opportunities in the region."
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 aggregate products. The Company has 106 fixed and 10 portable ready-mixed concrete plants and seven producing aggregates facilities. During 2012, U.S. Concrete produced approximately 4.8 million cubic yards of ready-mixed concrete and approximately 3.3 million tons of aggregates. For more information about 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; ready-mix backlog; ability to maintain our cost structure and the improvements achieved during our restructuring; ability to maximize liquidity, monitor fixed costs, 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 Quarterly Reports on Form 10-Q.
CONTACT: Company Contact: Matt Brown, SVP & CFO U.S. Concrete, Inc. 817-835-4105