EULESS, Texas, Nov. 11, 2020 /PRNewswire/ -- U.S.
Concrete, Inc. (NASDAQ:USCR), a leading supplier of aggregates
and ready-mixed concrete in active construction markets across the
country, announced today that it has acquired the assets of Sugar
City Building Materials Co. ("Sugar City") in San Francisco's East Bay area. Sugar City has
over 90 years of history and serves all sectors of the building
materials market. The deal includes a building material retail
operation, two ready-mixed concrete batch plants and two concrete
recycling systems. The retail operation will extend the footprint
of the Company's Westside Concrete Materials network of locations
and the ready-mixed concrete assets will be added to the Company's
Central Concrete operation. The additions increase the Westside
Concrete Materials' network to six locations and the Central
Concrete network to 28 ready-mixed concrete plants.
"An acquisition that adds to all of our Bay Area operations is a
big win for U.S. Concrete," said Ronnie
Pruitt, President and Chief Executive Officer of U.S.
Concrete. "Sugar City's long history in this dynamic market allows
us to immediately capitalize on these assets. Beyond the retail and
concrete additions, its proximity to our aggregates terminal means
we are able to expand our distribution of Orca high performance
concrete aggregates from Polaris Materials. These additions
strengthen each of our segments and further add to shareholder
value."
About U.S. Concrete
U.S. Concrete, Inc. (NASDAQ:
USCR) is a leading supplier of aggregates and concrete for
infrastructure, residential and commercial projects across the
country. The Company holds leading market positions in the
high-growth metropolitan markets of Dallas/Fort Worth, San Francisco, New
York City, Philadelphia,
and Washington, D.C., and its
materials have been used in some of the most complex and highly
specialized construction projects of the last decade. U.S. Concrete
has continued to grow organically and through a series of strategic
acquisitions of independent producers in its target markets.
For more information on U.S. Concrete, visit
www.us-concrete.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Certain statements and information provided in this press release
are "forward-looking statements" within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements include,
without limitation, statements concerning plans, objectives, goals,
projections, outlook, strategies, future events or performance, and
underlying assumptions and other statements, which are not
statements of historical facts. In some cases, you can identify
forward-looking statements by terminology such as "may," "will,"
"intend," "should," "expect," "plan," "anticipate," "believe,"
"estimate," "outlook," "predict," "potential" or "continue," the
negative of such terms or other comparable terminology. These
forward-looking statements, which are subject to risks,
uncertainties and assumptions about us, may include projections of
our future financial performance, our anticipated growth strategies
and anticipated trends in our business. These statements are
predictions based on our current expectations and projections about
future events which we believe are reasonable. Actual events or
results may differ materially.
By their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. We believe
that these risks and uncertainties include, but are not limited to:
general economic and business conditions, which will, among other
things, affect demand for new residential and commercial
construction; our ability to successfully identify, manage, and
integrate acquisitions; the cyclical nature of, and changes in, the
real estate and construction markets, including pricing changes by
our competitors; governmental requirements and initiatives,
including those related to mortgage lending, financing or
deductions, funding for public or infrastructure construction, land
usage, and environmental, health, and safety matters; disruptions,
uncertainties or volatility in the credit markets that may limit
our, our suppliers' and our customers' access to capital; our
ability to successfully implement our operating strategy; weather
conditions; our substantial indebtedness and the restrictions
imposed on us by the terms of our indebtedness; the effects of
currency fluctuations on our results of operations and financial
condition; our ability to maintain favorable relationships with
third parties who supply us with equipment and essential supplies;
our ability to retain key personnel and maintain satisfactory labor
relations; and product liability, property damage, results of
litigation and other claims and insurance coverage issues. These
risks and uncertainties also include the effects of COVID-19; the
length and severity of the COVID-19 pandemic; the pace of recovery
following the COVID-19 pandemic; our ability to implement cost
containment strategies; and the adverse effects of COVID-19 on our
business, the economy and the markets we serve.
Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee
future results, levels of activity, performance or achievements.
Moreover, neither we nor any other person assumes responsibility
for the accuracy and completeness of the forward-looking
statements. All written and oral forward-looking statements made in
connection with this press release that are attributable to us or
persons acting on our behalf are expressly qualified in their
entirety by the "Risk Factors" in our Annual Report on Form 10-K
and our Quarterly Reports on Form 10-Q filed with the Securities
and Exchange Commission. We are under no duty to update any
of the forward-looking statements after the date of this press
release to conform such statements to actual results or to changes
in our expectations, except as required by federal securities
laws. There can be no assurance that other factors will not
affect the accuracy of these forward-looking statements or that our
actual results will not differ materially from the results
anticipated in such forward-looking statements. Unpredictable or
unknown factors we have not discussed in this press release also
could have material effects on actual results or matters that are
the subject of our forward-looking statements. We undertake no
obligation to, and do not intend to, update our description of
important factors each time a potential important factor
arises.
Source: USCR-G
Company Contact Information:
U.S. Concrete, Inc.
Investor Relations
844-828-4774
IR@us-concrete.com
Media Contact:
Media@us-concrete.com
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SOURCE U.S. Concrete, Inc.