U.S. Concrete

U.S. Concrete, Inc.(NASDAQ: USCR) is an American company specializing in concrete, heavy construction aggregates and solutions. It was founded in 1999 and is headquartered in Euless, Texas. The company’s main products are ready-mixed concrete and aggregates. The company serves customers widely distributed in Texas, California, New Jersey, New York, Oklahoma, Philadelphia, U.S. Virgin Islands and Washington D.C..[1][2]

U.S. Concrete, Inc
Public
Traded asNASDAQ: USCR
S&P 600 Component
IndustryHeavy Building Materials
Founded1999
Headquarters
Euless, Texas
,
United States
Key people
Ronnie Pruitt
( President and CEO), John E. Kunz
( Senior Vice-President and CFO), Paul M. Jolas
(Senior Vice-President, General Counsel & Corporate Secretary)
ProductsAggregates and Ready-Mixed Concrete
Websitewww.us-concrete.com

History

1999-2001, U.S. Concrete, Inc acquired 21 companies and received $35 million IPO.
2002-2003, The company engaged in the aggregates industry and completed 1 tuck-in acquisition.
2004 and beyond, It has been making more progress in the market via cross-selling opportunities.[3]

The company filed for Chapter 11 bankruptcy protection on April 29, 2010.[4] It emerged from bankruptcy on August 31, 2010 after reducing its debt by $272 million.[5]

On October 30, 2012, Central Concrete Supply Co., Inc., a wholly owned subsidiary of U.S. Concrete, completed the acquisition of Bode Gravel Co. and Bode Concrete LLC.[6]

On Dec 17, 2012, a wholly owned subsidiary of U.S. Concrete, Inc., Smith Precast., Inc., sold substantially all of its assets for $4.27 million in cash and the assumption of certain obligations by Jensen Enterprises, Inc.[7]

In 2015, U.S. Concrete completed a significant ready-mixed concrete acquisition of Ferrara Bros. Building Materials, in Queens, New York. This acquisition significantly expanded the Company's footprint in New York City and allowed them to serve all five boroughs.[8] In subsequent acquisitions in 2016, USCR completed a series of acquisitions of Jenna Concrete, NYCON Supply Co. and Kings Ready Mix as part of a strategy to strengthen and expand its New York City operations. These acquisitions expanded their ready-mixed concrete operations, adding New York as a major contributor to success.

In 2017, the Company completed its largest acquisition to date with the purchase of Polaris Materials, a construction aggregate producer in British Columbia, Canada. Beyond its own traditional regions, they also serve aggregates-only markets in Southern California and Hawaii.[9] Also in 2017, USCR acquired Corbett Aggregate Companies, LLC located in Quinton, New Jersey.

In 2020, U.S. Concrete expanded its aggregates portfolio with the acquisition of Coram Materials, a construction aggregate producer on Long Island, New York. [10]

Products & services

U.S. Concrete, Inc. provides ready-mixed concrete, the company also provides crushed stone, sand, and gravel. U.S. Concrete has 176 standard ready-mixed concrete plants, 15 volumetric ready-mixed concrete facilities, and 22 producing aggregates facilities (2019). The company also involves building materials stores, hauling operations and broker product sales.[2][11][12][13]

Operations

Research & Development

2009, U.S. Concrete's National Research Laboratory was set up to develop enhanced concrete (supplementary cementitious materials, SCMs) and solutions. Besides, the company also maintains academic-industrial partnership with research teams at the University of California, Los Angeles (UCLA) and Arizona State University (ASU).
U.S. Concrete uses lime slurry and ARIDUS® Rapid Drying Concrete (addressing moisture-related floor covering failures) self-desiccating concrete technology. However, in 2012.12, the company's subsidiary sold Arizona Precast Operations.[2]

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References
  1. "Business Summary".
  2. "Description".
  3. "History/Timeline".
  4. Editorial, Reuters. "UPDATE 1-U.S. Concrete to cut $272 mln debt via bankruptcy". U.S. Retrieved 2018-07-19.
  5. "www.theconcreteproducer.com/producers/us-concrete-emerges-from-bankruptcy_o". www.theconcreteproducer.com. Retrieved 2018-07-19.
  6. "Form 8-K for US CONCRETE INC". October 31, 2012. Retrieved Nov 20, 2013.
  7. "U.S. Concrete Sells Arizona Precast Operations".
  8. "U.S. Concrete Announces Major Expansion in New York Metropolitan Area With Acquisition of Ferrara Bros. Building Materials".
  9. "U.S. Concrete Completes Acquisition of Polaris Materials Corporation".
  10. "U.S. Concrete Reports Strategic Acquisition".
  11. "About Us".
  12. "Company Solutions".
  13. "COMPANY FULL DESCRIPTION".
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