U.S. Concrete, Inc. (NASDAQ: USCR), a leading supplier of ready-mixed concrete and aggregates in active construction markets across the country, announced today that it has acquired the assets of On Time Ready Mix Inc., a ready-mixed concrete producer serving the mid- to high-rise commercial and residential segments primarily in Queens, New York. This strategic acquisition expands and strengthens U.S. Concrete's market recovery platform currently served by USC-Kings, LLC ("Kings"), allowing the Company to more effectively compete for non-union projects.
"This acquisition demonstrates our commitment to investing in growth segments throughout our business and is key to the future of our very active market recovery operations," said U.S. Concrete President, CEO and Vice Chairman, William J. Sandbrook. "Integrating ready-mixed concrete producers means finding successful businesses to serve the right markets for growth. Our ability to create cost-saving, streamlined operations will enhance our customer experience and ensure Kings' continued success. I am excited to welcome the On Time employees to the U.S. Concrete family."
About U.S. Concrete, Inc.
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 168 standard ready-mixed concrete plants, 17 volumetric ready-mixed concrete facilities, and 18 producing aggregates facilities. During 2016, U.S. Concrete sold approximately 8.1 million cubic yards of ready-mixed concrete and approximately 5.6 million tons of aggregates.
For more information on U.S. Concrete, visit www.us-concrete.com.