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. 817-835-4105