EULESS, Texas, Sept. 5, 2018 /PRNewswire/ -- U.S. Concrete, Inc.
(NASDAQ: USCR) ("U.S. Concrete" or the "Company"), a leading
national supplier of ready-mixed concrete and aggregates, today
announced that its wholly owned subsidiary, Polaris Materials
("Polaris"), has obtained the necessary permits to increase the
amount of aggregates it imports at its terminal located in
Long Beach, California. As a
result of the new permit, Polaris is now able to deliver up to two
million tons of highly specified aggregates annually, effectively
doubling its throughput capacity in supply-constrained Southern California.
"We are very pleased to be able to expand the aggregates
throughput at our Long Beach
terminal, especially at a point in time where the demand for these
materials in Southern California
is at an all-time high," said William J.
Sandbrook, Chairman, President and CEO of U.S. Concrete.
"Our intention was for the Polaris acquisition to grow its
aggregates volumes to provide our shareholders with both immediate
and long-term value. The permit helps with these objectives, while
also positioning our Company to benefit from the anticipated
tailwinds for the market, including the 2028 Olympics in
Los Angeles."
U.S. Concrete acquired the Long Beach Terminal as part of its
acquisition of Polaris in November
2017, which marked its entry into the Southern California market. By increasing its
aggregates permitted volume, the Company can expand its project
capacity and scope, and improve its ability to serve the
market.
About U.S. Concrete, Inc.
U.S. Concrete, Inc. (NASDAQ:
USCR) is a leading supplier of concrete and aggregates for
large-scale commercial, residential and infrastructure projects in
high-growth markets across the country. The Company holds leading
market positions in New York,
Philadelphia, San Francisco, Dallas-Fort Worth 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 our target markets.
For more information on U.S. Concrete, visit
www.us-concrete.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This press release contains various forward-looking statements
and information that are based on management's beliefs, as well as
assumptions made by and information currently available to
management. These forward-looking statements speak only as of
the date of this press release. The Company disclaims any
obligation to update these statements and cautions you not to rely
unduly on them. Forward-looking information includes, but is
not limited to, statements regarding: the expansion of the
business; the opportunities and results of our acquisitions; the
prospects for growth in new and existing markets; encouraging
nature of volume and pricing increases; the business levels of our
existing markets; ready-mixed concrete backlog; ability to maintain
our cost structure and monitor fixed costs; ability to maximize
liquidity, manage variable costs, control capital spending and
monitor working capital usage; and the adequacy of current
liquidity. Although U.S. Concrete believes that the
expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that those expectations will
prove to have been correct. Such statements are subject to
certain risks, uncertainties and assumptions, including, among
other matters: general and regional economic conditions; the level
of activity in the construction industry; the ability of U.S.
Concrete to complete acquisitions and to effectively integrate the
operations of acquired companies; development of adequate
management infrastructure; departure of key personnel; access to
labor; union disruption; competitive factors; government
regulations; exposure to environmental and other liabilities; the
cyclical and seasonal nature of U.S. Concrete's business; adverse
weather conditions; the availability and pricing of raw materials;
the availability of refinancing alternatives; results of
litigation; and general risks related to the industry and markets
in which U.S. Concrete operates. Should one or more of these risks
materialize, or should underlying assumptions prove incorrect,
actual results or outcomes may vary materially from those
expected. These risks, as well as others, are discussed in
greater detail in U.S. Concrete's filings with the Securities and
Exchange Commission, including U.S. Concrete's Annual Report on
Form 10-K for the year ended December 31,
2017.
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.