Vulcan Materials acquiring Texas-based U.S. Concrete Inc. for $1.3 billion
Deal gives Vulcan Materials access to operations large metro areas in California, Texas, New York and New Jersey.
Birmingham’s Vulcan Materials Co. is acquiring a Texas company in a $1.2 billion deal announced this morning.
The concrete and building material producer will pay $74 per share in cash for U.S. Concrete Inc., a supplier of aggregates and ready-mixed concrete. The deal is expected to close in the second half of this year, subject to conditions.
In acquiring the company, Vulcan Materials gains access to operations large metro areas in California, Texas, New York and New Jersey. Last year U.S. Concrete shipped 12.6 million tons.
Vulcan Materials Co. Tom Hill called U.S. Concrete “an important Vulcan customer in a number of key areas, and this transaction is a logical and exciting step in our growth strategy as we further bolster our geographic footprint.”
“This is a merger of two corporate cultures that value people, technology, operating disciplines, customer service and the entrepreneurial spirit, and it positions Vulcan to further drive sustainable, long-term shareholder value,” Hill said.
Source: www.al.com
CONTRACTOR SUPPLY MAGAZINE
The April/May 2024 issue of Contractor Supply magazine is here!
This digital edition is sponsored by BECK AMERICA Inc.
Our cover story, Masters of Fasteners, visits Interstate Screw Corp. of metro Miami, which serves the fastening needs of south Florida, the Caribbean and Central and South America.
Also in this issue,our Industry Updates cover Adhesives, Tapes and Sealants, Anchoring Systems and Safety and PPE.
This digital edition is fully searchable and contains live links to every advertiser and new product listing. Click away!
