Euless-based U.S. Concrete Inc. (NASDAQ : USCR ), a leading national supplier of ready-mixed concrete and aggregates, on Sept. 6 announced that it has expanded its aggregates business in Texas with the acquisition of Leon River Aggregate Materials LLC, a sand and gravel producer based in Proctor, Texas. The acquisition adds over 400 acres of land with reserves to the company’s operations and a state-of-the-art processing plant to achieve the highest efficiencies.
Furthermore, U.S. Concrete also announced that it has completed the divestiture of its Dallas/Fort Worth area lime operations to Lhoist North America, which includes two fixed plants, lime tankers and raw material tankers.
“We are excited to strengthen our aggregates operations in West Texas and to use the processing facility to produce high-quality materials that will be used in many of the market’s ongoing and planned construction projects,” said William J. Sandbrook, chairman, president and CEO of U.S. Concrete. “The lime divestiture gives us the ability to further our strategic focus of optimizing our portfolio of assets and allocating money directly to growing our aggregates business while concurrently improving our balance sheet by reducing debt.”
On Aug. 7, U.S. Concrete reported second-quarter net income of $16.3 million, after reporting a loss in the same period a year earlier.
The concrete and aggregates producer posted revenue of $404.2 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $391.7 million.
U.S. Concrete expects full-year revenue in the range of $1.52 billion to $1.62 billion.