U.S. Concrete, Inc. announced today that it has completed the sale of the remaining assets of the U.S. Concrete Precast Group, which consisted of an architectural precast plant operating in Middleburg, PA. The transaction represents the final divestiture of the Company's owned assets relating to precast concrete operations.
"This transaction marks the completion of our exit from the noncore precast concrete business," said U.S. Concrete President and CEO, William J. Sandbrook. "Since 2011, we have taken many successful steps to strategically position our business to capitalize on heavy construction material opportunities in our markets. This timely and accretive divestiture is another positive accomplishment for our Company and highly aligned with our strategic direction. We are now better positioned to continue dedicating our time, resources and capital to further expanding our heavy material operations in our attractive markets across the country. We believe we have a strong pipeline of growth opportunities ahead of us and an efficient capital base to continue enhancing our profitability and cash flow."
About U.S. Concrete, Inc.
U.S. Concrete, Inc. (the "Company" or U.S. Concrete) serves 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 140 standard ready-mixed concrete plants, 16 volumetric ready-mixed concrete facilities, and 10 producing aggregates facilities. During 2014, U.S. Concrete sold approximately 5.7 million cubic yards of ready-mixed concrete and approximately 4.7 million tons of aggregates. For more information on U.S. Concrete, visit www.us-concrete.com.