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The US concrete supply market has just consolidated somewhat.
On June 7, Birmingham, Alabama-based Vulcan Materials announced it would acquire Euless, Texas-based US Concrete in a deal valued at just under $ 1.3 billion. of dollars.
The deal, expected to close in the second half of this year, allows Vulcan to acquire 27 aggregate and ready-mix concrete operations that serve metropolitan areas of California, Texas and northern -is. According to Vulcan, US Concrete shipped nearly 13 million tonnes of aggregate last year.
In addition to the geographic expansion of its aggregates business, the acquisition adds “Strategically oriented ready-mixed concrete operations that will expand Vulcan’s service capabilities. “
Vulcan primarily serves the southern half of the United States, with operations ranging from California to Florida. The company, with roots dating back to 1909, has steadily acquired aggregate business over the past decade. In his fiscal year 2020, Vulcan had sales of $ 4.86 billion and a total profit of $ 115 million.
US Concrete achieved total sales of $ 1.4 billion in 2020 and net profit of $ 25.5 million. According to its website, the company has approximately 3,000 employees in 11 subsidiaries with sites in the United States, as well as a presence in Canada and the United States Virgin Islands.
Image Credit: American Concrete