U.S. Concrete Announces Acquisition of Architectural Precast, L.L.C. and Reorganization of Pre-Cast Concrete Operations


HOUSTON, Oct. 1 / -- U.S. Concrete, Inc. (NASDAQ:RMIX) announced today that it has completed the acquisition of Architectural Precast, L.L.C. ("API"). Located in Middleburg, Pennsylvania, API is a leading designer and manufacturer of premium quality architectural and structural pre-cast concrete products serving the Mid-Atlantic region. During 2006 and for the last twelve months ended July 31, 2007, API generated revenues of $14.3 million and $16.9 million, respectively. The Company used borrowings under its revolving credit facility to fund the purchase price.

"The combination of API's architectural and structural pre-cast products with our existing ready-mixed concrete products will allow us to provide our customers in our Atlantic Region with a full range of products and services," said Michael W. Harlan, U.S. Concrete's President and Chief Executive Officer. "We are very pleased that we have been able to retain the current management team at API, which has significant experience and expertise, to continue to run this operation."

Appointment of Douglas W. McLaughlin as Vice President U.S. Concrete -- Pre-Cast Division

Due to the revenue growth and expanding geographical footprint of the Company's pre-cast concrete operations, the Company also announced that it has reorganized its Western Pre-Cast Region into the Pre-Cast Division. The API acquisition represents the Company's third acquisition of a pre-cast company in the last year and a half, and it expects to continue to explore additional opportunities to grow its Pre-Cast Division. In connection with the new division, Douglas W. McLaughlin has been appointed as Vice President -- U.S. Concrete Precast Division. Prior to the appointment, Mr. McLaughlin had been serving as the Regional Vice President for the Company's Southwest Precast operations. From 1975 to 1999 Mr. McLaughlin served in various positions at San Diego Precast Concrete, Inc., a company that was acquired by U.S. Concrete in 1999 and has served as the platform business for the Western Pre-Cast Region.

"The pre-cast concrete industry represents a significant potential growth opportunity for the Company, as well as an opportunity to expand our presence into historically higher margin business lines. Doug's 32 years of experience in this industry, and proven track record in our Western Pre-Cast Region, makes him the ideal person to lead U.S. Concrete's Pre-Cast Division," said Mr. Harlan.

U.S. Concrete services the construction industry in several major markets in the United States through its two business segments: ready-mixed concrete and concrete-related products; and pre-cast concrete. The Company has 150 fixed and nine portable ready-mixed concrete plants, 9 pre-cast concrete plants, three concrete block plants and eight aggregates facilities. During 2006, these facilities produced approximately 9.1 million cubic yards of ready-mixed concrete, 4.0 million eight-inch equivalent block units and 4.6 million tons of aggregates. For more information on U.S. Concrete, visit http://www.us-concrete.com/.

Source: U.S. Concrete, Inc.

CONTACT:Robert D. Hardy, CFO of U.S. Concrete, Inc., +1-713-499-6222

Web site: http://www.us-concrete.com/

All Topics