U.S. Concrete, Inc. announced that its wholly owned subsidiary, Ingram Concrete, LLC, completed the acquisition of certain assets of the ready-mixed operations of Colorado River Concrete, L.P., Cindy & Robin Concrete, L.P. and E&R Artecona Family Limited Partnership for $2.4 million in cash, and the assumption of approximately $1.9 million in interest-bearing debt.
The company used cash on hand to fund the purchase price. The acquisition includes four ready-mixed concrete plants located in Stephenville, Aledo, Glen Rose and Granbury, Texas. This acquisition will add to the company's existing Ingram operations in west Texas as well as to its Redi-Mix operations in the Dallas-Fort Worth area.
U.S. Concrete serves the construction industry in several major markets in the United States through its two business segments: ready-mixed concrete and concrete-related products; and precast concrete products. As of the date of this press release, the company has 99 fixed and 12 portable ready-mixed concrete plants, two precast concrete plants and seven aggregates facilities.
During 2011, these plant facilities produced approximately 4.0 million cu. yd. of ready-mixed concrete from continuing operations and 3 million tons of aggregates, according to the company.