U.S. Concrete acquires NYCON Supply Corp
June 28, 2016 By U.S. Concrete
June 28, 2016 – U.S. Concrete, Inc. announced that it has acquired the assets of NYCON Supply Corp. (NYCON), a ready-mixed concrete producer headquartered in the Long Island City neighborhood of Queens, N.Y.
NYCON primarily serves high- and mid-rise projects in Western Queens and Midtown Manhattan through its two concrete batch plants and a fleet of 38 trucks. NYCON is a leader in quality and service in the markets it serves and will continue to operate under the NYCON Supply Corp. trade name.
“We are pleased to add NYCON to our growing portfolio of assets in New York,” said U.S. Concrete president and CEO William J. Sandbrook. “NYCON’s premier location enlarges our footprint to serve the New York City market and expands our regional customer base. We are now better positioned to enhance sales logistics, delivery efficiencies and material sourcing synergies. New York City’s perpetually growing population, economic development, and redevelopment provide a strong backdrop for continued ready-mixed concrete demand in coming years. We look forward to welcoming the NYCON team to our company.”
About U.S. Concrete, Inc.
U.S. Concrete, Inc. 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 146 standard ready-mixed concrete plants, 16 volumetric ready-mixed concrete facilities, and 14 producing aggregates facilities. During 2015, U.S. Concrete sold approximately 7.0 million cubic yards of ready-mixed concrete and approximately 4.9 million tons of aggregates. 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 belief, 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 forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except as required by federal securities laws, and cautions you not to rely unduly on them. Forward-looking information includes, but is not limited to, statements concerning plans, objectives, goals, projections, 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,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “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 projects about future events. Although the Company 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 forward-looking statements, by their nature, are subject to certain risks, uncertainties and assumptions, including, among other matters: general and regional economic 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 of our competitors; governmental requirements and initiatives, including those related to mortgage lending or mortgage financing, 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; 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 and other claims and insurance coverage issues. 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 inU.S. Concrete’s filings with the Securities and Exchange Commission, including U.S. Concrete’s Amendment No. 1 to Annual Report on Form 10-K/A for the year ended December 31, 2015.
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