EULESS, Texas, April 21, 2021 /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 an operational
cementitious terminal, bulk storage facility, and approximately
eight and a half acres of land with access to the Port of Stockton,
California.
"I am pleased to announce this strategic acquisition which
provides better control of our supply chain and cementitious supply
in the Bay Area," said Ronnie
Pruitt, U.S. Concrete President and Chief Executive
Officer. "We expect that this acquisition will benefit our
West Region in the short-term and provide long-term shareholder
value. With the supply of our Orca aggregates through our existing
Polaris terminal operations and now the addition of cementitious
materials with this acquisition, we are building sourcing options
into this market which will improve margins over the long-term
while successfully fulfilling our strategic growth
initiatives."
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," "target,"
"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.